Mayagüez-San Germán, PR

The Mayagüez-San Germán, PR CSA is made up of two counties in Puerto Rico: Mayagüez and San Germán. The CSA had a population of approximately 402,000 in 2017 and has a total area of 544 square miles. The CSA is located on the western coast of Puerto Rico and includes the cities of Mayagüez, San Germán, Aguadilla, Cabo Rojo, Lajas, and Rincon.

The housing market in the Mayagüez-San Germán CSA has seen some ups and downs over the past few years. In general, the market has been slowly recovering since the recession of 2008-2009. However, there have been some recent trends that are cause for concern.

One trend is that home prices in the CSA have been rising faster than incomes. This is causing affordability problems for many potential buyers. Another trend is that there has been an increase in foreclosures and short sales in recent years. This is likely due to the fact that many people are still struggling to make ends meet after the recession.

Despite these trends, there are still some positive aspects to the housing market in the Mayagüez-San Germán CSA. One positive trend is that rental prices have been relatively stable over the past few years. This provides some stability for renters who may be considering buying a home but are not yet ready to take on a mortgage. Another positive trend is that interest rates remain low by historical standards. This makes it an attractive time to buy a home for those who can afford it.

Overall, the housing market in the Mayagüez-San Germán CSA appears to be slowly recovering from the recession but there are still some challenges that need to be addressed such as affordability and foreclosures/short sales