The median sales price for a single family home for the past year has increased by nearly 3%. This may be good news for home sellers but not so good news for the value of money. Last year the average sales price was about $140,000 for a resale existing three bedroom, two bathroom detached home. I also track the average CPI for El Paso and that index has also increased but not as dramatically. As home owners we want the value of our homes to increase and in a good economy (where wages and jobs are growing) an average home will appreciate by between 1.5-2.9%. But as we all know, the USA has been recovering from the 2008 economic crash. I conclusion is that home prices and CPI are increasing due to inflation. 

 

 

 

 

home price trend in el paso