Laredo, TX Federal Housing Finance Agency Home Price Index (FHFA HPI)

Laredo, Texas is located on the north bank of the Rio Grande in South Texas, and is the county seat of Webb County. The city has a population of 260,654 (2017 U.S. Census) and is the tenth-largest city in the state of Texas. Laredo is also the largest inland port on the Mexican border and is part of the Maquiladora economic zone.

The Laredo housing market has been strong in recent years, with home prices rising steadily. The Federal Housing Finance Agency’s (FHFA) House Price Index for Laredo was 171.6 in Q4 2017, up from 168.8 in Q3 2017 and 157.1 in Q4 2016. This represents an annualized increase of 8 percent over that period.

Home equity levels have also increased significantly in Laredo over the past few years as home prices have risen faster than mortgage rates have increased. According to CoreLogic, the average homeowner had $61,000 in equity at the end of 2017, up from $50,000 at the end of 2016 and $37,000 at the end of 2015.

With home prices continuing to rise and mortgage rates remaining low by historical standards, it’s likely that home equity levels will continue to increase in Laredo (and across much of Texas) in 2018. This could provide a boost to consumer spending and help support economic growth in the region