RGV Business Journal: RGVBA Parade of Homes and the Home Buying Market

Hi, RGVBA members! RGV Business Journal covered details on the RGVBA's Parade of Homes this week in an illuminating article detailing the rising costs of homes in the region and how the community is reacting to new challenges in the market.

See the excerpt below from the outlet's Facebook post for more information:

From RGV Business Journal: "There are more homes for sale in the McAllen metro right now than at any point in the last 20 years — but that doesn't mean it's easy to buy one.

Home prices have climbed 75% over the past decade in the McAllen area (104% in Brownsville-Harlingen), while local wages haven't kept pace. The result: builders say buyers are walking through the door, but many aren't qualifying for loans.

"We're going from a seller's market to a buyer's market, but we have very few local buyers," one Valley realtor told RGVBJ.

The Builders Association's Parade of Homes kicks off this weekend (July 11-12, then July 18-19) with 23 new homes on display across the Valley — a chance to see where the market's headed firsthand."

Click here to read the full story on RGV Business Journal's website.