Tyler housing report Q2 shows promising data for future

Published: Aug. 5, 2022 at 6:45 PM CDT
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TYLER, Texas (KLTV) - The Tyler housing report for quarter two shows the housing market is strong.

More houses are available to purchase in Tyler compared to quarter two of 2021 with a 37 percent inventory increase. Also, data shows the median price of homes has slightly increased 14 percent, with a current price of $285,000.

As a result, licensed real estate agent Kelly Raulston tells us it’s important for sellers to price houses appropriately.

“When you price your home right from the beginning based on facts and not emotions, you are going to ultimately be able to have a faster home sale as opposed to picking a number based on emotions or based on how much you want to net from the sale of the house.” says Raulston.

Quarter two has shown an increase in interest rates for homebuyers; this, as our economy is also affected by inflation. Raulton says both can affect home sales.

She says, “We really need to look at home sales anywhere from 60 days to 120 days. A long time ago we were able to compare from even 12 months of data. But now we got to look at where the data is based on when the interest rates started increasing in order to price your home more accurately.”

Based on the results of this quarter, Raulston is hopeful that quarter three will play out similarly with more inventory for buyers to choose from.

“We don’t know what the interest rates are going to be doing like in six months from now or a year from now. And you don’t want to go into it saying man I wish I bought that house in 2022 and wait ten years later and then home value still increase and interest rates could still possibly increase as well.”

Raulston says real estate is a very cyclical industry, so marketing your property based on data is essential when selling a home.

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