George West, TX 78022 housing market

What this means

• Valuation. Prices are 7% below this area's pre-2020 price-to-income norm, cheaper relative to incomes than before the pandemic.
• Prices. Home values are down 0.8% over the past year (U.S.: +1.2%), 10% below their 2022-23 peak.
• Supply. Listings are 20% below the 2017-19 norm, still somewhat tight.
• Negotiating. Buyer leverage is high (68/100; U.S.: 54): homes sell for about 6.3% below their final list price; 13% of listings had a price cut (U.S.: 26%).
• Affordability. A mortgage on the typical home takes 35% of the median household income (U.S.: 35%); it takes about $64k a year to keep the payment at 30% of gross pay. That includes about $2,251 a year for home insurance (U.S.: $1,790).
• Disaster risk. FEMA expects about $147 a year in natural-disaster damage per $100k of building value (U.S.: $155), mostly from flooding.
• Outlook. No clear direction: likely −10% to +7% over the next 12 months (48% 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: −9.5% to +6.8% (80% range; middle estimate −0.3%), chance of a rise 48%, of a 5%+ drop 23%.

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.

Other ZIP codes in Live Oak County, TX