Metropolitan Statistical Area (MSA):
McAllen-Edinburg-Mission, TX is a Metropolitan Statistical Area (MSA) comprising counties including .
There is no doubt that the McAllen-Edinburg-Mission, TX metropolitan statistical area (MSA) is one of the hottest housing markets in the country. The combination of strong job growth, low interest rates, and limited supply of homes for sale has resulted in rising prices and bidding wars for properties.
The median home price in the MSA has increased by double digits over the past year, and shows no signs of slowing down. The number of homes sold each month has also been on the rise, as more and more buyers are looking to take advantage of the favorable conditions.
Investors have been quick to jump into the market as well, snapping up properties to rent or flip. With rents also on the rise, there is no shortage of demand for rental units.
All indications point to continued strong growth in the MSA housing market in the coming months. Prices are likely to continue to increase at a rapid pace, so buyers need to be prepared to act quickly when they find a property they like. Those who are looking to invest in rental properties should also do their homework before making any decisions, as there is a lot of competition for good properties right now.