Felipe reveals the surprising state of El Paso's real estate market as the first quarter of 2026 wraps up.
The episode begins with host Felipe introducing a market update for early 2026, noting recent shakeups in and outside the market. He states that national prices are around $400,000, with interest rates steady in the sixes after a small dip. In El Paso, average home prices are $250,000, with lower ranges around $229,000 in the Northeast area. Felipe describes the current market as balanced, shifting toward a buyer's market due to the interest rate dip that helped sellers clear inventory. He warns that waiting for another rate dip is unwise because rates are expected to rise, leading to property appreciation of 1-3%. Felipe recommends buying now if possible, citing economic instability and transaction timelines of 30-45 days. He emphasizes that new builds offer better deals, with builders providing interest rates as low as 4.2%, making a $300,000 new home comparable to a $250,000 resale. The host then reviews El Paso neighborhoods: the Northeast is hottest due to data centers, military growth, and new HOAs; the Westside has new builds in the $320,000 to millions range; Horizon and Socorro are developing with bigger homes; and Central has resales and flips. Felipe explains that flips can be good investments since renovations are already done. For buyers, he notes more purchase power with homes staying on the market 30-50 days, but well-priced homes sell quickly. For sellers, he advises pricing realistically to avoid long market times and loss of negotiation power. The episode concludes with a recap urging immediate action, as the market is hot and unpredictable, with a strategy to plan purchases within six months to avoid price increases.
