The real estate market in El Paso, TX is changing! Right now there are right at 2400 resale homes on the market, 2665 homes that have already closed and 1082 that are pending and waiting to close. Those figures do not count brand new homes or any multi family.
Everyone is saying we are in a buyer's market and in some ways that is true. There are alot of homes on the market and they are taking a little longer to sell and we are seeing some price reductions, but the big growth spurt that El Paso is about to see has not even happened yet!!!!
The new Medical School will open and have the 1st classed within the new couple of years, the military build up has not really started yet and the high tech military weaponary buildup is just starting to be in the works.
With all of the above happening within the next few years, I feel that prices will again start to be on the rise and real estate in El Paso will drastically change. I have been in this business since the early 80's and I have never seen a market like the one we will be going into within the next year and more.
If you want to buy a home, now is the time to purchase because if you wait, prices will go up!!!
Active Rain Real Estate Network
You can find great local El Paso, Texas real estate information on Localism.com Patti Olivas is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.
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