Del Rio, TX metro housing market

What this means

• Valuation. Prices are roughly in line with local incomes (+0% vs. this area's pre-2020 price-to-income norm).
• Prices. Home values are down 4.0% over the past year (U.S.: +1.2%).
• Supply. There are 65% more homes for sale than the 2017-19 norm and rising (+13% vs. a year ago), so buyers have more to choose from than before the pandemic.
• Negotiating. Buyer leverage is high (68/100; U.S.: 54): homes typically sell at or above asking (103.7% of list); 11% of listings had a price cut (U.S.: 26%).
• Affordability. A mortgage on the typical home takes 26% of the median household income (U.S.: 35%); it takes about $58k a year to keep the payment at 30% of gross pay. That includes about $1,696 a year for home insurance (U.S.: $1,790).
• Buy vs. rent. Owning and renting a typical home cost about the same per month.
• Disaster risk. FEMA expects about $82 a year in natural-disaster damage per $100k of building value (U.S.: $155), mostly from flooding.
• Outlook. No clear direction: likely −9% to +6% over the next 12 months (46% 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: −9.4% to +5.6% (80% range; middle estimate −0.5%), chance of a rise 46%, of a 5%+ drop 22%.

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 Del Rio, TX metro