Corpus Christi's coastal real estate market has been influenced by San Antonio's metropolitan area. San Antonio's success is fueled by a large military presence, insurance company headquarters (USAA), major manufacturing facilities such as Toyota, a solid labor force and warm sunny climate.  It is now one of the strongest real estate markets in the country.  San Antonio's success and short drive to Corpus Christi provides a stable source of steady second home buyers for the Corpus Christi coastal market.  

Other factors affecting Corpus Christi's coastal area are the Hispanic population growth and high-end development of beachfront land.

A study by the Joint Center for Housing Studies at Harvard University shows Latinos will account for nearly one-third of the home-buying pool by 2010. That same year, the disposable income of Hispanics will exceed $1.08 trillion, or 9.2 percent of total purchasing power nationwide, according to the Selig Center for Economic Growth at the University of Georgia.

Mustang Island and North Padre Island central location in the Texas Gulf Coast and a steady supply of second home buyers from the San Antonio, not to mention the baby boomers from across the US, make this area one of the most stable investments in the country for beach front property.

In addition to the local factors, there are statewide factors that are also influencing the Corpus Christi's coastal real estate market:

• Strong Second Home Interest from Baby Boomers
• Housing Affordability 1/2 of that of California & Florida
• "Texas' lower cost of living is drawing retirees from Florida and California," said Charles F. Longino Jr., author of Retirement Migration in America. "They're selling their $500,000 houses, buying $250,000 homes in Texas and putting the rest into their retirement nest eggs."
• Major Capital Investments planned by the State

In order to further analyze this area we need to take into consideration a major factor that has influenced investors. Voters turned down, by a 55 percent to 45 percent vote, a vehicle ban on the 7,200 feet of beach stretching from the Packery Channel south jetty to the northern boundary of Padre Balli Park.  Allowing vehicles to drive and park on the beach has caused concern among developers and their investors. Port Aransas has somewhat mediated this concern by restricting vehicle access away from the waterfront line.

---

See the Texas Gulf Coast Market Conditions report card at http://www.texasgulfcoastonline.com/Sales.aspx for more information.