East Texas home prices on the rise
Kelvin Woodfin with Tyler Lending Group said the region’s low housing inventory is making it a sellers market, a trend he expects will continue.
"We had about a $13,000 increase on the average loan size, which tells me if the average loan size increased the average home price also increased," Woodfin said.
Real Estate Center data show a fourth straight year of rising home prices in Lufkin, Nacogdoches, Longview, and Tyler. In those cities, home sales were about the same in 2015 as 2014, but average price was up and months on market was down.
Center data show Tyler had 6.1 months of home inventory in December 2015 compared with 9.4 months in Nacogdoches, which is the highest in East Texas.
You might also like
TG Magazine
Check out the latest issue of our flagship publication.
