The supply of homes on the market in the El Paso area has grown to 12 months. We normally have a 7-8 month supply of homes in El Paso.
Texas home prices are still holding, however. We have experienced a 5% increase in prices so far this year.
Currently we have 5,184 El Paso home listings, whereas a year ago at this time we had about 3,200 listings. Home buyers looking in the El Paso market are getting a good deal, but sellers are having a hard time getting the home value they want.
It’s hard to say where the real estate market in El Paso will look by the end of the year.
For further information, please contact Barry Karch, Prudential BKB, REALTORS, El Paso, TX, 915-549-4663 or 800-963-1909, www.HomesForSaleInElPasoTexas.com
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