Laredo ranked 200th best real estate market in the nation

Local real estate is booming, according to a recent report from WalletHub. And while Laredo’s standing isn’t as high as many local realtors might have imagined or wished, the town has beaten several other major markets.

Laredo earned an overall total score of 51.12 and was ranked 200th in the real estate market for the best places to buy a home. As for mid-sized cities, Laredo was No. 68.

Specifically, Laredo ranked #50 in the Affordability and Economic Environment category, as well as #231 in the Real Estate Market category.

Texas topped the overall standings with seven of the top 11 cities including Frisco, Allen, McKinney and Austin taking the top four spots, followed by Denton at No. 8 and Richardson and Fort Worth at No. 10 and 11, respectively. .

Laredo’s overall ranking places it 19th out of 21 Texas cities in the ranking — which includes 300 U.S. cities — ahead of Corpus Christi (No. 202) and Amarillo (No. 207).

Irene Antu is a local realtor with Keller Williams Laredo. And she recently shared her thoughts on the data in the report.

“Given the metrics used, I’m not surprised we made the list and thought it was accurate,” Antu said. “Laredo is one of the fastest growing cities in the country as well as a major port of entry for the trade industry. Our market is not only very active, but growing. In terms of affordability and job growth in our area, I believe Laredo has a very competitive advantage.

One aspect she is happy with is the affordability of the Laredo market compared to other cities, which gives her an edge over big cities like New York (#271). According to Antu, it’s always about affordability and what Laredo offers.

She says there’s no doubt the pandemic has driven up prices across the country, but in terms of price per square yard, Laredo is definitely a place to aim for.

“The name of the game is affordability, and Laredo is playing tough,” Antu said. “Ask any nomad what brought him here, and he will always praise the price at which he bought his house or the investment and work opportunities that brought him here.”

While affordability is a major feature of the local real estate market, Antu says that doesn’t mean the city doesn’t have challenges in its system.

The real estate agent said one of the biggest challenges facing the local market is that there is a lot of misinformation being spread about what is really going on. This sows a seed of anxiety in potential buyers or sellers, giving interested buyers more reason to turn to a real estate professional.

Inflation is another major hurdle currently seen in the market. However, Antu says that while the market may have slowed down, it certainly hasn’t stopped.

“While the rise in interest rates over last year may have discouraged some buyers, the rise in inventory has given them a whole new advantage from a trading standpoint,” Antu said.

According to the WalletHub report, the housing market in 2022 is much more seller-oriented, with mortgage rates nearly doubling in the past year and home values ​​rising nearly 21% on average.

One thing the local real estate market has is the fact that many real estate agents working in the industry are currently in the process of being certified. Amidst the influx of these professionals, Antu states that there is an abundance of work for all these professionals.

“Laredo is unique in that it allows real estate agents to explore many options when it comes to their careers,” Antu said. “Even during the pandemic, Laredo has continued to grow at a rapid rate and we have seen an increase in median household income. Not only that, but real estate is more than buying and selling homes, it encompasses ranch land, industrial land, commercial sales, leases, investment properties, and more.

“The fact that we have both supply and demand for all of these aspects of the market makes Laredo the perfect place to pursue a career in real estate. Our city is growing and with it a need for real estate agents.

Not all potential buyers should buy a property because they are told it is the right time to enter the market. On the contrary, Antu said individuals should check their own finances before making such a decision.

“While most of the time shoppers hear that now is the time to buy, that’s not always the case for every individual,” Antu said. “The best time to buy real estate is when you’ve taken a good look at your finances, considered the costs, considered how it’s going to be for you in the long run. Speak to a real estate professional with any questions you may have regarding the pros and cons of your situation.

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