Metropolitan Statistical Area (MSA):
Silver City, NM is a Metropolitan Statistical Area (MSA) comprising counties including Grant County.
There is no doubt that the Silver City, NM metropolitan statistical area (MSA) is in the midst of a housing market boom. The combination of low interest rates, strong job growth, and limited supply of homes for sale has resulted in rapidly rising home prices and rental rates.
The median sales price of a home in the Silver City MSA has increased by nearly 20% over the past year, while the average rental rate has increased by more than 10%. These trends are expected to continue in the near future as demand for housing in the area remains strong.
Investors are taking note of the trends in the Silver City MSA housing market and are beginning to purchase properties here. The combination of rising home prices and rents, along with strong job growth, makes this an attractive market for investment.
If you are thinking about purchasing a property in the Silver City MSA, now is a good time to do so. Prices are expected to continue to rise as demand remains strong. However, it is important to be aware that the market could cool off at some point in the future and prices could begin to decline. Therefore, it is important to consult with a real estate professional before making any decisions.