77379, Spring, TX

The 77379 zip code of Spring, TX has a median home value of $174,000. The home equity in this zip code is $101,000. Home prices have increased by 10% over the past year. The average credit score for residents in this zip code is 740. This indicates that most residents are able to borrow money to purchase a home.

The main reason for the increase in home prices is the low supply of homes available for sale in this area. There are only 190 homes available for sale in the 77379 zip code as of May 2019. This compares to an availability of 1,848 homes at the same time last year. Another contributing factor to the increase in home prices is that interest rates have remained relatively low over the past year. This has made it more affordable for people to borrow money to purchase a home.

There are some potential risks associated with buying a home in the 77379 zip code. One risk is that interest rates could rise and make it more expensive to borrow money to purchase a home. Another risk is that there could be a housing market crash and homeowners who have taken out mortgages may not be able to afford their payments if house prices decline significantly.