Is East Texas Housing Market Affected By National Home Sales Slump? - KLTV.com - Tyler, Longview, Jacksonville |ETX News

7/25/07-Tyler

Is East Texas Housing Market Affected By National Home Sales Slump?

Coldwell Banker Realtors Bobbie Harris and Sharon Counts are walk us through an East 2nd Street home that's for sale in the Azalea District.

It's been listed for the last three months, but they say they haven't felt the national gloom surrounding the housing industry.

"Tyler for the last few years we really haven't experienced that. We're really settling into a normal market here," says Counts.

Harris adds, "We have a lot of people who come here to retire. Our medical community is just booming and attracting a lot of attention."

But also attracting attention nationally is the decline in homes sales, currently in the worst slump in 16 years.

"I think those larger markets are feeding to a certain extent into our market," says real estate agent Matt Marshall.

Marshall says in years past, people were willing to buy a home while they're still selling their existing one. But because there are more homes for sale to choose from than there are buyers, it's taking longer for homes to sell and people don't want to be stuck with two mortgages.

"If they're moving from out of town or within town. What they're doing is putting a contract on a house where they're going to wait and see if their home sells first.  Or they're just going to hold back and as soon as they get a contract on their house then they'll aggressively start looking," says Marshall.

While the sales decline has been the lowest in the south at 1.7%, all these realtors agree the market is currently in the buyer's favor.

"We have a pretty large inventory of homes available that are in the higher price ranges," says Harris.

Sellers just need to be prepared for it to take a little longer to seal the deal.

National data also showed an increase in the number of homeowners unable to pay their mortgages, which is contributing to the national slump.

Locally we're told that hasn't been a significant problem.

Christine Nelson Reporting cnelson@kltv.com

  • NewsMore>>

  • John Tyler receives donation for local lawyer to help upgrade helmets

    John Tyler receives donation for local lawyer to help upgrade helmets

    Friday, August 18 2017 11:14 PM EDT2017-08-19 03:14:50 GMT
    KLTV StaffKLTV Staff
    The John Tyler Lions always seem to look sharp in their uniforms. But thanks to East Texas lawyer Keith Miller, the Lions will look better and play safer. Helmets that advertise lowering the impact of hits, and possibly reduce the amount of concussions, come with a hefty price-tag. Miller's donation of 7,500 dollars, will go to help the lions cover that cost. "Keith Miller's been a big sponsor of John Tyler High School football program for years now.  I know it's...More >>
    The John Tyler Lions always seem to look sharp in their uniforms. But thanks to East Texas lawyer Keith Miller, the Lions will look better and play safer. Helmets that advertise lowering the impact of hits, and possibly reduce the amount of concussions, come with a hefty price-tag. Miller's donation of 7,500 dollars, will go to help the lions cover that cost. "Keith Miller's been a big sponsor of John Tyler High School football program for years now.  I know it's...More >>
  • Red Zone Rundown: Kilgore looks to a pair of Bulldogs speed to up offense

    Red Zone Rundown: Kilgore looks to a pair of Bulldogs speed to up offense

    Friday, August 18 2017 11:08 PM EDT2017-08-19 03:08:11 GMT
    KLTV StaffKLTV Staff
    The last time we talked about the Kilgore Bulldogs, quarterback Buddy Jackson and wide receiver Jonathan Shepherd were apart of the 800-meter relay team that won gold at the 2017 state track meet. But today they are back in the pads, and looking to turn their speed into touchdowns.  Competing in District 9-4A, Kilgore has always had a strong run game that helped them become the 2016 District Champs. However, in order to surpass their opponents this season, including Carthag...More >>
    The last time we talked about the Kilgore Bulldogs, quarterback Buddy Jackson and wide receiver Jonathan Shepherd were apart of the 800-meter relay team that won gold at the 2017 state track meet. But today they are back in the pads, and looking to turn their speed into touchdowns.  Competing in District 9-4A, Kilgore has always had a strong run game that helped them become the 2016 District Champs. However, in order to surpass their opponents this season, including Carthag...More >>
  • Arp ISD takes extra precautions after high levels of asbestos reported in city's water

    Arp ISD takes extra precautions after high levels of asbestos reported in city's water

    Friday, August 18 2017 10:43 PM EDT2017-08-19 02:43:21 GMT
    Sample of water taken from sink inside Arp Junior High School. (Source: KLTV News Staff)Sample of water taken from sink inside Arp Junior High School. (Source: KLTV News Staff)

    Holding up a sample of water collected from a sink at the Arp Junior High school, the district’s superintendent says “it looks like lake water.” 

    More >>

    Holding up a sample of water collected from a sink at the Arp Junior High school, the district’s superintendent says “it looks like lake water.” 

    More >>
Powered by Frankly