Tyler Home Sales Decrease In December
By CASEY MURPHY
Business Editor
The Tyler area saw a 5.26 percent decline in home sales in December compared to the same time the year before.
There were 198 houses sold in the area last month, compared to 209 units sold in December 2010, according to figures released Thursday from the Greater Tyler Association of Realtors.
The December sales were a 4.8 percent decrease from the 208 houses sold in November.
Mary Smith, RE/MAX broker associate and chairwoman of the Greater Tyler Association of Realtor’s PR Committee, said she believes the decrease in sales could be because of the holiday season.
Business Editor
The Tyler area saw a 5.26 percent decline in home sales in December compared to the same time the year before.
There were 198 houses sold in the area last month, compared to 209 units sold in December 2010, according to figures released Thursday from the Greater Tyler Association of Realtors.
The December sales were a 4.8 percent decrease from the 208 houses sold in November.
Mary Smith, RE/MAX broker associate and chairwoman of the Greater Tyler Association of Realtor’s PR Committee, said she believes the decrease in sales could be because of the holiday season.
“I really feel that the holidays come and people do things differently,” she
said.
Ms. Smith feels the bigger story is how the Tyler area finished the year.
She said nearly 5 percent more houses were sold in 2011 than in 2010. Tyler also saw a more than 6 percent increase in total dollar volumes last year than in 2010, she added.
Ms. Smith said there were tax credits in 2009 and for part of 2010. And she believes 2011 was a good year because sales in 2011 were “neck and neck” with 2009 without any incentives.
“Home buyers are coming out and exhibiting confidence,” she said.
Ms. Smith said local residents appeared confident in the interest rates, which were “pretty stable” in 2011 and were not worried about them being raised.
Ms. Smith feels the bigger story is how the Tyler area finished the year.
She said nearly 5 percent more houses were sold in 2011 than in 2010. Tyler also saw a more than 6 percent increase in total dollar volumes last year than in 2010, she added.
Ms. Smith said there were tax credits in 2009 and for part of 2010. And she believes 2011 was a good year because sales in 2011 were “neck and neck” with 2009 without any incentives.
“Home buyers are coming out and exhibiting confidence,” she said.
Ms. Smith said local residents appeared confident in the interest rates, which were “pretty stable” in 2011 and were not worried about them being raised.
The Tyler area also saw a slight decrease in housing costs.
The median home price for December was $129,750, a 0.19 decrease from the median price of $130,000 the year before. Last month’s price was a 13.47 percent decline from November’s $149,950.
The Tyler area’s home inventory stood at 12 months in November, the latest month for which figures from the Real Estate Center at Texas A&M University were available.
That is down from the same time the year before when the inventory was at 13.4 months, and down from 13.3 months in September.
Home inventory is how long based on the past year’s sales rate it would take to clear out existing inventory, with no more homes introduced into the market.
Smith County saw only eight foreclosures in December, five of which were in Tyler, according to RealtyTrac.
Total home sales for Texas in November were up, according to the latest figures from Real Estate Center at Texas A&M University.
The state saw 15,004 homes sold in November, an 8.2 percent increase from the same time the year before, when 13,869 homes were sold in the state. The November totals were also a 2.69 decrease from October.
Texas median home price for November was $147,400, a 0.75 percent increase from November 2010, when it was $146,300, and a 0.61 percent increase from October.
The state’s inventory stood at 6.5 months in November, down slightly from 7.6 months the same time the year before and from 6.9 months in October.
Texas had 8,586 foreclosures in December, according to RealtyTrac
Shy Shinalt
Keller Williams Tyler
www.shyshinalt.com
The median home price for December was $129,750, a 0.19 decrease from the median price of $130,000 the year before. Last month’s price was a 13.47 percent decline from November’s $149,950.
The Tyler area’s home inventory stood at 12 months in November, the latest month for which figures from the Real Estate Center at Texas A&M University were available.
That is down from the same time the year before when the inventory was at 13.4 months, and down from 13.3 months in September.
Home inventory is how long based on the past year’s sales rate it would take to clear out existing inventory, with no more homes introduced into the market.
Smith County saw only eight foreclosures in December, five of which were in Tyler, according to RealtyTrac.
Total home sales for Texas in November were up, according to the latest figures from Real Estate Center at Texas A&M University.
The state saw 15,004 homes sold in November, an 8.2 percent increase from the same time the year before, when 13,869 homes were sold in the state. The November totals were also a 2.69 decrease from October.
Texas median home price for November was $147,400, a 0.75 percent increase from November 2010, when it was $146,300, and a 0.61 percent increase from October.
The state’s inventory stood at 6.5 months in November, down slightly from 7.6 months the same time the year before and from 6.9 months in October.
Texas had 8,586 foreclosures in December, according to RealtyTrac
Shy Shinalt
Keller Williams Tyler
www.shyshinalt.com
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