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Real Estate Guide 2007
Analysis by region
National statistics are meaningful, but in real estate "location, location, location" means local trends trump all.
City overview
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El Paso, Texas
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If you run around Texas talking about the housing market collapsing, you may as well be speaking a foreign language. Strong demographics contribute to healthy home sales, with El Paso boasting one of the highest averages of families in the country, with 3.6 people per family. It's also No. 2 on Fortune magazine's list of cities where it expects to see home values rise, 7.1 percent this year and 4.4 percent next year.
4th quarter 2006: $131,800
Median price 4th qtr. 2005: $118,400
% change: +11.3%
Projected avg. price end of 2007: $187,000
Current avg. 30-year fixed rate: 5.71%
Current avg. 5/1 ARM rate 5.56%
*Affordability rating: 5.4
Foreclosures in Jan. 2006:
(1 for every 790 households)
284
Foreclosures in Jan. 2007:
(1 for every 984 households)
228
Change in foreclosures: -19.72%
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Current rate comparison:
» Click here for state vs national rates
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Key market events
 
Key market map
Dec. '05: Median price $118,400
Jan. '06: 30-yr. fixed rate at year's low 6.10%
June '06: National median home price $227,100
June '06: Fed makes last of 17 rate hikes
July '06: 30-yr. fixed rate at year's high 6.80%
Dec.'06: Median price rises 11.3% to $131,800
Jan. '07: National median home price: $210,600
-- Posted: March 8, 2007


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Mortgages
Compare today's rates
NATIONAL OVERNIGHT AVERAGES
30 yr fixed mtg 4.28%
15 yr fixed mtg 3.30%
5/1 ARM 3.30%
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