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Longview housing's best June on recordLongview housing's best June on recordhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=171552017-07-18T05:00:00Z2017-07-18T16:00:00Z

​​​LONGVIEW – Home sales in the area jumped nearly 13 percent from a year earlier, setting a June record.

According to the Longview Area Association of Realtors, 281 sales were closed in June, up 32 from a year ago. Active listings numbered 570, up 20.3 percent from June 2016.

The average price was $173,479, down from $179,046. Homes spent an average of 120 days on the market, up from 111. 

Worries about rising rates could be driving more buyers into the market, said Real Estate Center Chief Economist Dr. Jim Gaines.

"It could be the talk of interest rates increasing by the Fed is spurring people to come into the market and bringing demand forward," he said. "If you believe the cost of financing is going up, it spurs you to action. In the long run, increasing interest rates will cause demand to go down."

Longview News-Journal
Longview
Housing
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