Longview home sales pick up as weather dries out

LONGVIEW – Longview-area home sales weathered a wet spring and still managed to post a solid 4 percent gain through the first six months of the year.

The biggest gains were April–June, when the number of houses sold increased more than 7 percent from a year ago, according to data from the Longview Area Association of Realtors.

That easily topped the pace of home sales statewide, which gained 4.7 percent during second quarter, according to the Texas Association of Realtors.

"The impact of lower oil prices continues to be delayed, leading to a surprisingly strong second quarter," said Scott Kesner, chairman of the statewide association, referring to crude oil prices that are now about half what they were a year ago. "In fact, Texas home sales are actually stronger than they were this time last year, when oil prices were nearly $100 a barrel."

That was certainly the case in the Longview area, where the number of homes sold has topped 2014 in all but two months this year, with 1,113 homes sold January through June. That’s up from 1,066 homes sold during that period a year ago.

With dwindling places to build new homes, sales of existing homes are driving most of the gains within the city limits.

In the Longview area, the average sale price for the first half of the year was $163,521. The averages in May and June, however, were nearly $177,000 and more than $178,000, respectively.

Source: Longview Area Association of Realtors