The Bains

223 homes sold last month, compared to 164 sold November 2008 – a 36% INCREASE, according to
the Greater Tyler Assoc. of Realtors. 4th best November ever. A 28.8% increase in October. Median sales prices increased to $129,000 from $120,750 a year ago. October saw median prices at
$137,900, so a decrease there. Tyler inventory fell to ll.8 months. However, the TX A&M Real Estate Center says a balanced inventory is 6 months. Wood County saw similar figures, but in smaller numbers. The $8,000 Tax credit drove some of this + the hopefully to be passed $6,500
credit for existing homeowners. Some of buyer reluctance is consumer fear & the “wait for the price to bottomout” attitude, but Texas has affordability & jobs. Since prices did not appreciate rapidly,
the the bottoming will be less obvious. Sales will increase because of record low interest rate (now
average 5.05%), continuation of tax credits, affordability & great selection.