Alice, TX metro housing market

What this means

• Valuation. Prices are 43% below this area's pre-2020 price-to-income norm, cheaper relative to incomes than before the pandemic.
• Prices. Home values are down 9.7% over the past year (U.S.: +1.2%), 29% below their 2022-23 peak.
• Supply. There are 11% more homes for sale than the 2017-19 norm and rising (+18% vs. a year ago), so buyers have more to choose from than before the pandemic.
• Negotiating. Buyer leverage is high (82/100; U.S.: 54): homes sell for about 4.5% below their final list price; 12% of listings had a price cut (U.S.: 26%).
• Affordability. A mortgage on the typical home takes 23% of the median household income (U.S.: 35%); it takes about $39k a year to keep the payment at 30% of gross pay. That includes about $2,259 a year for home insurance (U.S.: $1,790).
• Disaster risk. FEMA expects about $173 a year in natural-disaster damage per $100k of building value (U.S.: $155), mostly from hurricanes.
• Outlook. No clear direction: likely −10% to +5% over the next 12 months (38% 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: −10.3% to +4.7% (80% range; middle estimate −1.4%), chance of a rise 38%, of a 5%+ drop 26%.

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.

Counties in Alice, TX metro