Jim Wells County, TX housing market

What this means

• Valuation. Prices are 39% below this area's pre-2020 price-to-income norm, cheaper relative to incomes than before the pandemic.
• Prices. Home values are down 9.6% over the past year (U.S.: +1.2%), 22% below their 2022-23 peak.
• Supply. There are 10% more homes for sale than the 2017-19 norm and rising (+21% vs. a year ago), so buyers have more to choose from than before the pandemic.
• Negotiating. Buyer leverage is high (81/100; U.S.: 54): homes sell for about 4.8% below their final list price; 11% of listings had a price cut (U.S.: 26%).
• Affordability. A mortgage on the typical home takes 24% of the median household income (U.S.: 35%); it takes about $42k a year to keep the payment at 30% of gross pay. That includes about $2,257 a year for home insurance (U.S.: $1,790).
• Disaster risk. FEMA expects about $163 a year in natural-disaster damage per $100k of building value (U.S.: $155), mostly from hurricanes.
• Outlook. No clear direction: likely −11% to +6% over the next 12 months (41% chance of a rise).

Next 12 months

No clear direction

A fall is somewhat more likely than a rise, but not by enough to call. Likely change: −10.6% to +5.8% (80% range; middle estimate −1.1%), chance of a rise 41%, of a 5%+ drop 27%.

HouseVane's model, refit every month on local market signals and national ones, trained only on data known at the time. How accurate it has been.

ZIP codes in Jim Wells County, TX