The
State of New Home Affordability – Q1 2017
As a national statistic, the recovery of home values from the Great Recession is complete. In April 2017, Zillow reports that the median home value was $198,000; up 7.3% YOY, beating the value at the height of the market in 2007 by $2,000. Home sales also reflect the new paradigm. In the first quarter of 2017, Metrostudy data indicates that the median price of existing homes sold was $199,500, an 8.4% increase over the same period the previous year. The new home median price also was higher, rising 3.2% to $308,100 for the same period.
Texans are paying less on mortgage debt than the rest of the country
