75428, Commerce, TX

The home equity and home prices in the 75428 zip code of Commerce, TX are reflective of the overall market conditions in the area. Over the past year, home values have increased by 2.5%, which is slightly slower than the national average of 2.8%. However, this rate of growth is still above the 1.7% rate seen over the past twelve months.

One factor that has contributed to this uptick in home values is a shortage of available properties for sale in this area. In fact, there are currently only 3 homes for sale within a 5-mile radius of where I live - which is significantly lower than what we typically see during peak housing season. This lack of inventory has driven up prices and given buyers more bargaining power when negotiating with sellers.

Another contributing factor to increased home values in this area is strong economic growth prospects. The Commerce economy has been expanding at a healthy clip over recent years, which has led to an increase in jobs and wages as well as an increase in household income overall. This positive trend should continue into 2019 and 2020, which will help to drive up demand for housing stock and consequently drive up prices even further.