{"id":1157838,"date":"2022-08-29T05:38:04","date_gmt":"2022-08-29T10:38:04","guid":{"rendered":"https:\/\/ktbb.com\/post\/?p=1157838"},"modified":"2022-08-30T10:34:19","modified_gmt":"2022-08-30T15:34:19","slug":"east-texas-housing-market-cooling-down","status":"publish","type":"post","link":"https:\/\/ktbb.com\/post\/?p=1157838","title":{"rendered":"East Texas housing market cooling down"},"content":{"rendered":"

\"\"TYLER \u00e2\u20ac\u201c Over the last few years, the housing inventory hasn\u00e2\u20ac\u2122t kept up with demand. According to our news partner KETK, a new house listing would receive multiple offers in just hours, most above asking price, but now the market has flipped. \u00e2\u20ac\u0153The housing market definitely is slowing down,\u00e2\u20ac\u009d said Luis Torres, Senior Business Economist with the Federal Reserve Bank of Dallas. Economy expert Luis Torres with the Federal Reserve Bank of Dallas says the housing market during the pandemic was on a roll. \u00e2\u20ac\u0153The major driver of seeing such a hot housing market during the pandemic, was historical low mortgage rates that we show during that period,\u00e2\u20ac\u009d said Torres. He spoke at UT Tyler recently about why he thinks interest and mortgage rates rising are now causing the market to cool off.<\/p>\n

\u00e2\u20ac\u0153It effects affordability, it\u00e2\u20ac\u2122s a major contributor to affordability when you try to buy a house, and definitely buying a house is becoming more expensive right now than it was before,\u00e2\u20ac\u009d said Torres. Kelly Raulston with the Greater Tyler Association of Realtors says serious buyers are still buying. \u00e2\u20ac\u0153The medium value is $311,000, so we have increased that by 22% in comparison to last year,\u00e2\u20ac\u009d said Kelly Raulston, Chairman Elect, The Greater Tyler Association of Realtors. Raulston attended the event and said they are even seeing an increase of homes going on the market. \u00e2\u20ac\u0153We are up our inventory 43%,\u00e2\u20ac\u009d said Raulston. She adds that though prices and inventory are up, sales are down almost 6%. Luis Torres saying it\u00e2\u20ac\u2122s all thanks to one thing. Both Torres and Raulston hoping everything will eventually even out.<\/p>\n","protected":false},"excerpt":{"rendered":"

TYLER \u00e2\u20ac\u201c Over the last few years, the housing inventory hasn\u00e2\u20ac\u2122t kept up with demand. According to our news partner KETK, a new house listing would receive multiple offers in just hours, most above asking price, but now the market has flipped. \u00e2\u20ac\u0153The housing market definitely is slowing down,\u00e2\u20ac\u009d said Luis Torres, Senior Business Economist … Continue reading East Texas housing market cooling down<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":1157841,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/ktbb.com\/post\/wp-content\/media\/2022\/08\/city-of-tyler-1.png","fifu_image_alt":"East Texas housing market cooling down","footnotes":""},"categories":[177],"tags":[],"class_list":["post-1157838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-local-news-archive-archives"],"publishpress_future_action":{"enabled":false,"date":"2026-06-15 20:34:29","action":"change-status","newStatus":"trash","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"fifu_image_url":"https:\/\/ktbb.com\/post\/wp-content\/media\/2022\/08\/city-of-tyler-1.png","fifu_image_alt":"East Texas housing market cooling down","_links":{"self":[{"href":"https:\/\/ktbb.com\/post\/index.php?rest_route=\/wp\/v2\/posts\/1157838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ktbb.com\/post\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktbb.com\/post\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktbb.com\/post\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/ktbb.com\/post\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1157838"}],"version-history":[{"count":2,"href":"https:\/\/ktbb.com\/post\/index.php?rest_route=\/wp\/v2\/posts\/1157838\/revisions"}],"predecessor-version":[{"id":1157928,"href":"https:\/\/ktbb.com\/post\/index.php?rest_route=\/wp\/v2\/posts\/1157838\/revisions\/1157928"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktbb.com\/post\/index.php?rest_route=\/wp\/v2\/media\/1157841"}],"wp:attachment":[{"href":"https:\/\/ktbb.com\/post\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1157838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktbb.com\/post\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1157838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktbb.com\/post\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1157838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}