Some experts predict the falling prices of Housing in Texas, others are not so optimistic – Newsradio 740 KTRH

The Texas Housing Market is constantly up and down, and this will probably not stop in 2025.

Certain changes to the policy that President Trump wants to go through will surely have an impact on the market that starts this year. The home market this year may be more favorable than in 2024 or previous years.

Despite several Fed interest rates over the last few months, the average 30-year mortgage rate has increased to 7.08% by early January. According to Redfin, the average selling price on a national scale was just over $ 427,000 as of December 2024. Housing prices in the United States was 6.2% compared to last year.

In Texas, the average sales price per home is $ 350,600 in December, which is 2.6% compared to a year before. Some real estate experts predict housing prices will fall in the main metropolitan areas in Texas this year. Houston -based real estate agent Matthew Villaflor agrees, although he does not expect prices to drop much.

“I don’t expect you to drop dramatically,” he told local housing prices. “We will have different sectors on the market that you will see some price drop, but overall real estate generally increases their value.”

Inventory is also relatively low. Higher prices and more slow construction have prevented many people from buying their first home. Plus, many homeowners have been able to lock themselves with a low interest rate during Covid years, so they still don’t want to move, if at all.

“If interest rates go far enough, it would force more people to move if that makes sense for them,” added Vilaflor, who also designs a balanced market between buyers and sellers.

Houston, like Austin and Dallas, saw a thriving home market during the pandemic. It is now predicted that these big cities can see housing prices after some time at a remarkable rise. For the first time, home buyers hope to see the mortgage rates will reduce and increase the levels of stocks in 2025.

“The more inventory we have, this will reduce housing prices, but they are still quite slender at the moment and this will keep the housing prices stable,” VillaFlor said.