Metropolitan Statistical Area (MSA):
Marshall, TX is a Metropolitan Statistical Area (MSA) comprising counties including .
There are many factors influencing the real estate market in any given area, and the Marshall, TX MSA is no different. Some of the most important trends to watch for in this area include population growth, job market trends, and interest rates.
Population growth is always an important factor to consider when thinking about real estate trends. The Marshall MSA has seen a population increase of 1.4% from 2010-2017 according to the U.S. Census Bureau. This population growth, combined with a low unemployment rate of 3.8%, indicates that there is strong demand for housing in the area.
Job market trends are also key to understanding the real estate market. The Marshall MSA has seen a recent influx of jobs in the healthcare and education industries. In particular, the opening of Christus Good Shepherd Medical Center - Marshall in 2015 has created over 1,000 new jobs in the area. This trend is likely to continue as healthcare needs continue to grow across the country.
Interest rates are another important factor to consider when thinking about real estate trends. The current average interest rate for a 30-year mortgage in the Marshall MSA is 4%. This is slightly higher than the national average of 3.9%, but still relatively low by historical standards. Low interest rates make it easier for buyers to afford a home, which can lead to increased demand and prices