TYLER AREA HOME SALES INCREASE
Tyler area home sales in May 2012 jumped 6.65% from the same time last year. 289 units were sold as compared to 271 in May 2011 reported by the Greater Tyler Association of Realtors. Increase from April, but April was slow. Median home sale prices are still $137,500 as they were a year ago. Dr. Lawrence Yun, National Association of Realtors chief economist, said the housing recovery is under way. It is no longer just investors, but folks taking advantage of the HIGH AFFORDABILITY conditions, which includes the continuing low interest rates. The number of days on the market in the Tyler area is DECREASING, so inventory is lowering, which is a good indication of a stronger market. Still a ways to go to be a stable market for both buyers & sellers.