OK, let’s be real honest here: the current housing market conditions in Killeen, Texas have been quite fluid. I know firsthand, because we were on the hunt when we first got here and things have taken a turn. Folks right now aren’t selling because they want to and are going to make a huge profit. They are selling because they can’t afford to live anymore.
The Current State Of Affairs
Many Texas are struggling to stay in their current homes, let alone having the means to be able to purchase one. With the median single-family home price increasing its way up to 8.6% from just last year, it’s at a whopping $398,500 according to the National Association of Realtors. While home prices went up, making it harder for many to purchase, the costs have also gone up to stay in and maintain these homes.
A housing crisis definitely looms over the Lone Star State. There are 8 specific cities within the state though that show negative signs that this potential crisis may be rapidly nearing. The Consumer Financial Protection Bureau and the 2020 American Surveys data was analyzed by GoBankingrates.com. They put together a list of precisely which cities in Texas are heading the way of a housing crisis. Here they are.
The total housing units in Laredo are 72,328. Almost a whopping 50% of homes for sale in Laredo are or have been foreclosed on. Over 3% of these homeowners are 30-90+ days delinquent on their mortgage. Let me just say yikes!
Total housing units are 874,827.1.5% of homeowners are delinquent, and get this, almost 75% of homes for sale are or have been foreclosed on. 75%? This can’t be real.
Total housing units, 54,840. They have around the same percentage of 30-90+ day delinquent homeowners as Houston. This is a lot compared to how big Houston is. There’s less inventory and another thing Killeen has a lot of, is homes that are for sale or have been foreclosed upon. Almost 12% to be exact. The amount of vacant homes is rising to 4% which could be due to the proximity of the military installation Fort Hood and the constant revolving door the city plays with the military members. That’s huge though.
230,905 total housing units, and they are seeing almost 20% of homes that are or have been foreclosed on in
Corpus’ housing unit total at 117,789 is needing a life raft with their deliquency percentages and foreclosures, and their homeowner vacancy rate is currently climbing to a staggering 2%.
I’d say 53,506 total housing units in Brownsville looks pretty concerning with their almost 25% of homes dealing with foreclosure.
With 76,778 total housing units, besides a high percentage of delinquency. Amarillo has a lot of owner vacant homes. What’s going on Amarillo?
Total housing units are 50,108. There isn’t a lot of inventory in Waco. However, the inventory that they do have is landing right on a trend with cities like Amarillo and Brownsville.
My 2 Cents
If you are a current homeowner that lives in any of these 8 cities, (I’m sure you know this) if you can get back on track, or at least break even selling your home, that could be a much better solution than foreclosure. On the other hand, if you plan on buying a home in any of these cities I’d wait it out. Start doing your research and homework and be one of the first in line to hop on many of these houses that will be on the market real soon.
Let’s talk about it. How do you feel about this Killeen? Download our free app. Tap the chat button and let me know your thoughts on this. Until the next epsiode. K-Lew out!
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