Red River County, TX housing market

What this means

• Valuation. Prices are roughly in line with local incomes (+5% vs. this area's pre-2020 price-to-income norm).
• Prices. Home values are up 9.2% over the past year (U.S.: +1.2%), but still 12% below their 2022-23 peak.
• Supply. There are 40% more homes for sale than the 2017-19 norm and falling (−25% vs. a year ago), so buyers have more to choose from than before the pandemic.
• Negotiating. Buyer leverage is high (98/100; U.S.: 54): homes sell for about 7.4% below their final list price; 21% of listings had a price cut (U.S.: 26%).
• Affordability. A mortgage on the typical home takes 32% of the median household income (U.S.: 35%); it takes about $52k a year to keep the payment at 30% of gross pay. That includes about $2,382 a year for home insurance (U.S.: $1,790).
• Disaster risk. FEMA expects about $739 a year in natural-disaster damage per $100k of building value (U.S.: $155). Check insurance costs before buying.
• Outlook. No clear direction: likely −9% to +8% over the next 12 months (57% chance of a rise).

Next 12 months

No clear direction

A rise is somewhat more likely than a fall, but not by enough to call. Likely change: −8.5% to +7.9% (80% range; middle estimate +1.0%), chance of a rise 57%, of a 5%+ drop 19%.

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 Red River County, TX