Silver City, NM metro housing market

What this means

• Valuation. Prices are roughly in line with local incomes (+8% vs. this area's pre-2020 price-to-income norm).
• Prices. Home values are down 5.2% over the past year (U.S.: +1.2%), 18% below their 2022-23 peak.
• Supply. Listings are 38% below the 2017-19 norm and falling (−14% vs. a year ago): still a tight market.
• Negotiating. Buyer leverage is high (70/100; U.S.: 54): homes typically sell at or above asking (100.0% of list) (as of Feb 2025); 18% of listings had a price cut (U.S.: 26%).
• Affordability. A mortgage on the typical home takes 30% of the median household income (U.S.: 35%); it takes about $46k a year to keep the payment at 30% of gross pay. That includes about $1,357 a year for home insurance (U.S.: $1,790).
• Buy vs. rent. Buying costs about $187/mo less than renting a typical home (mortgage payment vs. typical rent).
• Disaster risk. FEMA expects about $242 a year in natural-disaster damage per $100k of building value (U.S.: $155), mostly from flooding. Flood isn't covered by standard homeowners insurance.
• Outlook. No clear direction: likely −9% to +6% over the next 12 months (53% 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 +6.4% (80% range; middle estimate +0.3%), chance of a rise 53%, 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.

Counties in Silver City, NM metro