McKinney, TX: McKinney Home Prices & McKinney Home Values

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The median home value in Buyer wants to counter with 281000... no option period, sold as is.... is $374,000. Buyer wants to counter with 281000... no option period, sold as is.... home values have gone up 8.7% over the past year and Zillow predicts they will rise 4.7% within the next year. 

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The median list price per square foot in Buyer wants to counter with 281000... no option period, sold as is.... is $144, which is higher than the Dallas-Fort Worth Metro average of $121.

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The median price of homes currently listed in Buyer wants to counter with 281000... no option period, sold as is.... is $453,500. The median rent price in McKinney is $2,025, which is higher than the Dallas-Fort Worth Metro median of $1,595.

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Housing prices are affected by supply- and demand-related factors. In McKinney's housing market, it’s the supply situation that is mostly responsible for rising home values. In short, there aren’t enough homes listed for sale to meet demand.

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From a supply perspective, the McKinney real estate market still favors sellers over buyers. There are plenty of people out there looking for houses to buy, but not enough inventory to go around. This also puts upward pressure on home prices.

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As is often the case, inventory is especially tight at the lower end of the pricing spectrum. More affordable “starter” homes are in short supply right now as the home values in Buyer wants to counter with 281000... no option period, sold as is.... have been going up. This is something Buyer wants to counter with 281000... no option period, sold as is.... home buyers should keep in mind, if they’re planning to enter the real estate market soon.

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In some cities across the country, home prices have begun to slow down or even level off as buyers pull back. But Buyer wants to counter with 281000... no option period, sold as is.... is one of those housing markets where home values are expected to continue climbing for the foreseeable future. And supply shortages have a lot to do with that.

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One of the Best Markets for First-Time Buyers

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In related news, Buyer wants to counter with 281000... no option period, sold as is...., Texas was recently ranked as one of the top five housing markets for first-time home buyers. The Buyer wants to counter with 281000... no option period, sold as is.... home values have been climbing for last few years. This report also came from the research group at Zillow.

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The group analyzed the nation’s largest real estate markets to find out where first-time buyers have best chance of success. They looked at four metrics in particular:

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• Low median home prices requiring a smaller down payment.

• Strong forecasts for home-price growth to build homeowner equity.

• A higher “inventory-to-household” ratio, giving buyers plenty of choices.

• A relatively high share of listings with a price cut.

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Based on those metrics, a handful of large housing markets rose to the top. Buyer wants to counter with 281000... no option period, sold as is...., Texas came in high on the list of best housing markets for first-time buyers.

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Population Growth Creates Housing Demand in Buyer wants to counter with 281000... no option period, sold as is....

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Steady population growth has created more demand for housing in the area, on both the purchase and rental side. This in turn has boosted home values in Buyer wants to counter with 281000... no option period, sold as is.... and also in the surrounding areas.

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Forecasts for this housing market predict that house values will continue to rise into 2021. And population growth plays a big role in that.

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When you combine these two factors (a growing population in an area - Buyer wants to counter with 281000... no option period, sold as is.... - that has limited housing supply), you have all of the ingredients for continued price growth.

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Low Mortgage Rates Could Boost Spring Home-Buying Season

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Nothing motivates home buyers like low mortgage rates. And that’s exactly what we are seeing right now.

Mortgage rates have been on a downward slide since last year. This gives home buyers in McKinney a chance to lock in at a low rate and save over the long term.

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According to the weekly survey from Freddie Mac, the average rate for a 30-year fixed mortgage was 3.08% in the current month.  

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But there’s no telling how long mortgage rates will remain at their current lows. Home prices in McKinney, meanwhile, continue to climb and is resulting in McKinney home values to rise. So those buyers who postpone their purchases until later in 2020, or 2021, will likely end up paying more for a house.

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