Ector County Appraisal District Residential Property Market Trends

HCAD analysis of interest rates, housing inventory, and sales patterns reveals key residential property Market trends.

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Taylor County Property and the Influence of Rising Interest Rates

  • Mortgage rates have risen significantly from their historic lows, now ranging between 7.0% and 7.5%.
  • The sharp increase in interest rates between February 2022 and July 2023, which pushed the Fed Funds Rate to 5.50%, has had a direct impact on property valuations within the Ector County Appraisal District.
  • These higher interest rates are reducing housing affordability, potentially leading to a slowdown in the local housing market.

As of April 1, 2024, mortgage rates have reached levels not seen in recent years, driven by actions from the Federal Reserve, influencing housing affordability and reflected in property assessments by the Ector County property tax.

Shifts in Housing Inventory in Ector County

  • In Ector CAD, housing inventory has seen a steady rise, growing from 2.6 months in January 2023 to 3.3 months in December 2023, according to local market data.
  • This increase marks a sharp contrast to the 1.3 months of inventory available in January 2022, as seen in Ector Appraisal District property records.
  • The surge in inventory has brought much-needed stability to the market, helping keep median and average home prices steady compared to the previous year, as reflected in property assessments.

Over the last two years, the availability of homes has shifted dramatically, significantly influencing housing prices and ensuring a more balanced market, as shown in the Ector County Appraisal District data.

Exploring the ECAD Single-Family Home Marke

  • Single-family home construction took a sharp downturn from 2,500 homes to just 1,000 between 2007 and 2011, according to appraisal data.
  • Though construction has gradually picked up since 2011, it still hasn’t quite returned to pre-recession levels, signaling a slow recovery.
  • However, since 2020, the pace of housing starts has increased, with new construction values skyrocketing even faster, as seen in the Ector Appraisal District evaluations.

These shifts housing market—marked by fluctuations in both single-family home construction and property values—show just how much the local real estate landscape has evolved in recent

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