Tyler residential lot shortage equals higher prices

TYLER – Visitors enjoying the Tyler Area Builders Association annual Parade of Homes this year might notice something different — nearly all of the homes on the tour have already been sold.

Smith County Chief Appraiser Michael Barnett said there could be a 34 percent or more increase in residential construction in 2015.

“We’re already forecasting more than 1,000 homes to be built in Smith County in the current year,” Barnett said. “We had over 650 homes built in 2014.”

The real estate market in the Smith County and Tyler areas is hot right now. Residential construction is an important part of that market.

One thing might not be keeping up with demand — the availability of lots on which to build.

Builders build homes, but they need developers to put in the subdivisions and make lots available. 

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