2025Issue2 BuildersOutlook
15
Texas Cities with lowest cost of living
Some Good News For Homebuyers : Slower Price Growth , More Supply and More Bargaining Power
Redfin News , by Dana Anderson
The median monthly housing payment remains near record highs , but slowing price growth , declining mortgage rates and a pileup of supply is giving homebuyers in certain parts of the country room to negotiate .
The median U . S . home-sale price rose 3.7 % year over year during the four weeks ending February 16 , the smallest increase since September . Additionally , the weekly average mortgage rate dipped to 6.87 %, its lowest level of the year .
While typical monthly housing costs remain near record highs , decelerating price growth and gradually declining rates are among several small pieces of good news for house hunters this week . Here are the others :
Homebuyers have more total inventory to choose from . There are five months of supply on the market , up from 4.1 months a year earlier and the most since early 2019 ( except the 4 weeks ending January 26 , when there were 5.1 months ). Supply is piling up because listings are rising while pending home sales are falling .
Buyers have more new inventory to choose from , too . New listings are up 4.2 % year over year to their highest level for any comparable time period in three years .
Buyers have more negotiating power . The typical home is selling for 2 % less than its asking price , the biggest discount in two years . Additionally , the typical home that sells is taking 57 days to go under contract , the longest span in five years . A slow market in which the typical home is selling under list price means buyers in many markets have the opportunity to negotiate on prices and terms .
Some markets are more buyer friendly than others . For example , the coastal Florida market is tilting in buyers ’ favor , while sellers are generally in the driver ’ s seat in some West Coast and Northeast markets . Additionally , these conditions may be short-lived as more buyers come off the sidelines . Hometouring activity is rising , according to both ShowingTime data and Google data , and Redfin agents in certain areas report that house hunters are gearing up for spring homebuying season .
“ If a home needs work or it ’ s priced too high , it ’ s sitting on the market ,” said Cody Brownfield , a Redfin Premier agent in Cincinnati . “ That ’ s when a buyer has bargaining power . But updated homes that are priced right – especially those located in desirable neighborhoods with highly rated schools – are selling quickly , sometimes for tens of thousands of dollars over the asking price . It seems like every buyer is looking for the same type of house .”
Pending sales , listings are up in Los Angeles in aftermath of wildfires
In Los Angeles , pending home sales rose 7.4 % from a year earlier during the four weeks ending February 16 , making it one of just seven major metros where sales are increasing . New listings in Los Angeles rose 21.9 %, the third-biggest increase in the U . S .
The uptick in housing-market activity among both homebuyers and sellers likely stems from January ’ s Palisades and Eaton wildfires , which destroyed thousands of homes in Los Angeles . Some affluent buyers who lost their homes are now buying new ones , and some homeowners are selling to meet the demand . Additionally , some buyers throughout Los Angeles pressed pause on their house hunt in January and are picking it back up now . https :// www . redfin . com / news / housing-marketupdate-good-news-for-homebuyers-2025 /
Network Journal , by Kenneth John https :// tnj . com / placeswith-lowest-cost-of-living-in-texas /
Texas known as the Lone Star State has become a highly-rated factor as it provides affordability , stability , and opportunity . Given the fact that there is no state income tax , Texas is highly rated in terms of cities due to its economy and attractions . It is highly rated with no doubt . If you are searching for the places where you can get the most bang for your buck , here is a detailed overview of the top 10 cities in the United States where the cost of living is the lowest .
n Brownsville Median Home Value : $ 186,700 Cost of Living : 25.1 % below the national average Located on the southern edge of Texas bordering the Gulf of Mexico . Brownsville is known for its warm climate , rich culture , and budget-friendly living . This city is known as the sunset capital and is a perfect spot for those searching for a tropical feel without spending most of their cash . Housing is cheaper along with lower utility costs which makes Brownsville highly rated for retirees and young children .
n Abilene Median Home Value : $ 196,495 Cost of Living : 19.8 % below the national average Abilene is a city that provides everything that a retiree , quiet life seeker , or a family looking to raise children would be interested in . The community is equipped with affordable housing , affordable healthcare , and even a cheap cost of living all while being in touch with nature and great parks . The residents are friendly and welcoming , making the city even more appealing .
n Wichita Falls Median Home Value : $ 168,224 Cost of Living : 23.7 % below the national average Wichita Falls is not only a great place to reside but also for those looking to break free from city life . The city has absolutely reasonable prices for accommodation and the cost of living is also extremely low . The environment of the city is peaceful and has a lot to offer in terms of nature which makes it an even more appealing option .
n Lubbock Median Home Value : $ 206,875 Cost of Living : 18.9 % below the national average Lubbock is a city that offers everything that a university student or even a family or a working individual would desire in a community , all while staying on the budget . The community has a low cost for utilities , a great cultural scene , is filled with places to eat from , and also is conveniently located right next to Texas Tech University .
n San Angelo Median Home Value : $ 213,986 Cost of Living : 18.9 % below the national average When someone thinks of San Angelo what comes to mind is the diversification of the history , a mix of cultures , and being affordable . Paying groceries and getting transportation in this city is below average so for someone looking for a more economical lifestyle balanced with work opportunities will find this city good . Additionally , the residents will also benefit a lot from the beautiful landscapes and the arts which are the major attractions around the city .
n Pasadena Median Home Value : $ 221,232 Cost of Living : 3.1 % below the national average For lovers around Houston , Pasadena is an easier and more affordable city to reside in with lots of lets out including outdoor activities . With many parks , trails , and local activities , the city suits best for families and people who enjoy staying outside and active most of the time . Even the housing of Pasadena is inexpensive with median rent at around $ 1,610 .
n Kileen Median Home Value : $ 224,170 Cost of Living : 16.3 % below the national average Killeen has Fort Hood and thus a fastgrowing population that has a variety of jobs with many being in the military field . The reason Killeen is good for families and professionals is the low utility costs , cheap housing , and the variety of activities that are available such as hiking and boating .
n Waco Median Home Value : $ 196,951 Cost of Living : 16.6 % below the national average Waco lies in the middle of Dallas and Austin making it easy to access as well as relatively cheaper compared to other places . Supporting her friendly cost of living , Waco provides education with Baylor University and offers a strengthened culture making it a wellsuited option for families and young people looking to settle down .
n Arlington Median Home Value : $ 317,398 Cost of Living : 3 % below the national average Situated at the tip of the Dallas Fort Worth metropolitan area , Arlington proves to be cheaper while offering many employment opportunities in IT , health , and education . The Area is famous for many sports franchises and entertainment facilities such as the AT & T stadium and Six Flags over Texas .
n El Paso Median Home Value : $ 223,427 Cost of Living : 18.1 % below the national average El Paso ’ s southernmost point that borders Mexico , it is one place that has an amazing culture and is cheap at the same time . Randy has affordable housing , a good economy , and beautiful scenery making it the perfect spot for people who want a place that is different yet affordable .