MidlandDirt: Home Values Projected to Fall in 2016, Investments Considered ‘Dangerous’

midland home prices

Things look grim for the real estate market in Midland over the next 12 months, as home values are forecast to decrease by 5 percent over the next 12 months. In the second and third year, prices are forecast to decrease 2 percent and remain unchanged, respectively, according to new reports from Local Market Monitor.

In Odessa, home values are predicted to increase by 2 percent over the next 12 months. In the second and third year, prices are forecast to increase 1 percent and 2 percent. Nationally, prices are forecast to increase by 4.9 percent.

Most worrying, the reports have called investment in Midland real estate “dangerous,” giving it a -1.7 score, on a 1 to 10 scale. In Odessa, the rating is a 1.3, putting that city in the “speculative” category.

This is a marked changed from the market of three years ago, when the investment risk for both cities was in the “low risk” category.

Read the whole story over at MidlandDirt.com.

One Comment

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