Wichita Falls Housing Market Looking Up - Newschannel 6 Now | Wichita Falls, TX

Wichita Falls Housing Market Looking Up

National home sales are down, but in Wichita Falls things are looking up.  According to the Wichita Falls Association of Realtors home sales from April to May were up 15 percent, while the rest of the nation saw a loss of 3.8 percent.

Nationally analysts say first time buyers slipped to 35 percent of sales when in healthy times they drive about half of sales.

An area of town that is growing is Shady Grove Lane.  Doug McCulloch, a home builder and President of the North Texas Home Builders Association says he's been busy lately,
really busy.

"Usually I'm doing like 3, 4, or 5 custom homes a year and this year it will be more like 8, 9, or 10," said McCulloch.

He says builders have been seeing a boom in the number of homes requested from people looking to move to up to a bigger home, something realtor DeeAnn Martin understands.

"Wichita Falls is probably so much better than 90 percent of the country," said Martin.

Like cities across the nation when the housing market took a hit so did Wichita Falls, but unlike other areas the city recovered.

"We do not have the escalation of prices like so many markets do.  We very gradually go up we don't just peak up so fast; therefore, if there is a drop it's normally a very slight drop."

Martin says the number of people looking to purchase a home has been steady, but one thing that has drastically changed are those looking to lease or rent.

"A large number of people are leasing homes because they cannot sell the homes in the cities where they had been living previously," she said.

For now we have a steady market that is growing stronger, so seeing signs with the word 'sold' will not be going away.

Though homes sales from April to May grew in the greater Wichita Falls area they were still slightly down from last year.

 

Crystal Hall Newschannel 6.

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