76457, Hico, TX

Home Equity and Home Prices in the 76457 Zip Code of Hico, TX

There is no doubt that home equity is one of the most important assets a person can have. Not only does it provide a financial cushion in times of need, but it also gives homeowners the ability to borrow against their homes and use the equity as collateral for other loans. In addition, home prices are often an indicator of overall economic conditions in a given area. As such, it is important to understand how home equity and home prices are changing in the 76457 zip code of Hico, TX.

According to data from Zillow, the median home value in this zip code was $119,000 as of September 2017. This represents an increase of 7% over the previous year and indicates that there is strong demand for housing in this area. In addition, Zillow reports that the average days on market for properties in this zip code was 36 which suggests that there is strong competition for available homes. Finally, Zillow reports that the percentage of homes sold within three months was 83%, which indicates that there is strong demand for property ownership in this area. Taken together, these data suggest that homeownership rates are high and there is strong demand for housing stock in the 76457 zip code of Hico.

While home values have been increasing steadily over recent years, there has been some volatility associated with these values due to changes in interest rates and other economic factors. For example, according to data from Trulia , house values decreased by 3% between May 2017 and May 2018 due to increased interest rates (which made borrowing more expensive) and concerns about global economic conditions (which could lead to a decrease in business activity). However, since June 2018 house values have recovered somewhat (by 2%) as interest rates have fallen again relative to other factors affecting purchasing decisions such as location . Overall then, while there has been some volatility associated with house prices over time – particularly during periods when interest rates change – overall trends suggest that they are rising steadily relative to inflationary pressures . This suggests that homeownership rates are high and there is strong demand for housing stock in the 76457 zip code of Hico.