Town of Pecos, TX metro housing market

What this means

• Prices. Home values are up 3.8% over the past year (U.S.: +1.2%), but still 41% below their 2022-23 peak.
• Supply. There are 144% more homes for sale than the 2017-19 norm and falling (−47% vs. a year ago), so buyers have more to choose from than before the pandemic.
• Negotiating. Buyer leverage is moderate (56/100; U.S.: 54): homes typically sell at or above asking (104.8% of list) (as of Sep 2024); 7% 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 $50k a year to keep the payment at 30% of gross pay. That includes about $1,892 a year for home insurance (U.S.: $1,790).
• Disaster risk. FEMA expects about $107 a year in natural-disaster damage per $100k of building value (U.S.: $155), mostly from flooding.
• Outlook. Leaning up: likely −4% to +11% over the next 12 months (77% chance of a rise).

Next 12 months

Leaning up

Prices are more likely to rise than fall over the next year. Likely change: −4.4% to +10.5% (80% range; middle estimate +4.4%), chance of a rise 77%, of a 5%+ drop 8%.

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 Town of Pecos, TX metro