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One for the books! Tyler sees record home sales in 2015One for the books! Tyler sees record home sales in 2015https://www.recenter.tamu.edu/news/newstalk-texas/?Item=120542016-02-10T06:00:00Z

​​TYLER - Home sales for 2015 were record-breaking according to Claudia Carroll, chairwoman of the Greater Tyler Association of Realtors.​ ​

Yet, while 2016 seems off to a solid start, there could be trouble brewing if oil and gas prices remain low.

In the 30-county region, which includes Smith and Gregg counties, 4,507 homes were sold in 2015. That's up 7.7 percent over 2014's 4,168 homes sold.

"We're thrilled with the numbers overall," Carroll said. "Consumer confidence in the real estate market is at an all-time high. Tyler, Smith County and the surrounding counties saw the benefits."

The year saw an increase in younger, millennial-generation homebuyers.

"What's really hot on the market right now is anything less than $200,000, because that's your first-time homebuyer market," Carroll said. 

"We're seeing more millennials buying now. They're in their 30s now and feeling more comfortable, so they're looking to buy their first homes."

Home sales in the region ended the year on a positive note, with 313 homes sold in December, up 11.8 percent from November's 280 homes sold.

That was down slightly year-to-year, compared to December 2014's 332 homes sold, but the yearly total more than made up for that. ​

The year's dollar volume was another record, she added. 

Across the region, home sales in 2015 totaled $792.1 million, up 10.7 percent over 2014's $715.2 million.

"In three separate months, we saw sales of more than $80 million," Ms. Carroll said. "That's incredible."

However, there are some other troubling economic indicators, particularly oil and gas prices, that could mean a less-robust 2016. ​

Carroll doesn't expect the kinds of foreclosures that the region saw when oil prices crashed in the 1980s.

"Most of us are seeing a brisk start to 2016," she said. ​

Tyler Morning Telegraph
Tyler
Housing
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