Does anybody know how much average. Home prices have decreased?
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I live in Midland. I have seen a small decrease in prices, but the catch is a lot of people are simply holding their houses and not selling. The market seems fairly stagnant to me, I suspect to prevent a free fall on housing value.
I bought my house for $275K in August 2019, and I think I could successfully sell at $265K for it right now but that's just my best guess. Finding the closest analogous house to mine, in the same neighborhood, I actually see them listed at 280K - 290K. I'm not sure if they're actually selling at those prices though. It's hard for me to gauge, since I did the "lower cost house in a higher priced neighborhood" route, so there's not a lot of analogs for me to reference.
My gut says you could probably save a nice 10K if you want to purchase a middle class home right now. I also suspect you won't have to deal with any of the bidding war nonsense that was common in 2019, and that alone is a blessing.
@2ope, Then quit posting if that's what you are! You have a horrible opinion of yourself, by the way.
@4fek+17qA78mb, the question is specifically for midland, not “everywhere you look”. Generalizing that all areas in the US behave the same reflects the quality of your comment.
The real estate market has been crazy hot this year, everywhere I look homes are gone soon and at or above asking price. Very few homes on the market compared to 2 years ago.it might be different in Midland but I think in few years there will be another Oil boom.
One thing about oil, it is either boom or bust.
If you have a home there, hang onto it, unless you are worried about the opportunity cost. It will have another oil boom in the next 3-4 years.
Never trust an aggie
No they are selling like hot cakes. I have an off market listing I will let you have first crack on but you have to move quick and sign a non reversible contract on the property before you can see it. It’s a great deal.
Buy low sell high
@1rkk+17qA78mb: I heard the was an anal retentive a$$hole who post the same thing again and again.
Home resale prices are dropping like a boat anchor. If you had an ounce of smarts, you would have rented a house in this town. But, if you took a gamble and purchased one instead, you’re the only one to blame. Don’t look to Chevron to bail you out. Bankruptcy court is straight down Main Street and to the left at the first 4-way stop sign.
I heard that there was a site around here with layoff topics being discussed. Anyone know about it?
$300K
Who the hell wants to live in Midland???
It appears it is a buyers market in Midland! I wonder how come. Zillow shows quite a few house just listed within the last week.
Not a lot yet. But they are not selling so. It tells me a lot of people are leveraged and can’t reduce there prices more the sell them. Not to mention a lack of buyers
Not much at all. Check the Texas A&M Real Estate Center for some good stats.
Check realtor.com not lay-off.com