Home value tracker: Houston's most and least expensive ZIP codes
Although rising mortgage rates are pricing out some buyers, it could also help to cool demand slightly, helping the market to catch up on inventory. Average rates for a 30-year fixed mortgage were at about 5.3 percent for the week ending in July 7 – that’s up from 2.4 percent a year earlier, according to the government-sponsored finance enterprise Freddie Mac. For a $320,000 loan, that could add about $450 to prospective buyer’s monthly payment.
Jennifer Wauhob, chair of HAR and an agent with Better Homes and Gardens Real Estate Gary Greene, said a rise in inventory in May could also help ease some of the competition for homebuyers. Zillow’s home value index data represents an estimate of the typical home value in a given geography, such as a state or ZIP code. The data on this page is meant to compare regions and illustrate trends over time — it is not necessarily an indication of any individual home’s value.
Zillow is a member of various local MLSs throughout the state of Texas, giving the company access to some of the same data that real estate agents have.
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