Housing market in Wichita Falls continues to show signs of growt - Newschannel 6 Now | Wichita Falls, TX

Housing market in Wichita Falls continues to show signs of growth

(Source: KAUZ) (Source: KAUZ)
WICHITA FALLS, TX -

The Wichita Falls housing market is on a solid foundation. 

John Wilson, Executive Vice-President of the Wichita Falls Association of Realtors said there has been a 16-percent increase in sales this January compared to last January, and low interest rates are helping make this possible. 

            “Interest rates are very low compared to what they've been in the past, and I expect them to be in the three to four percent range which is just phenomenal,” said Wilson.

Last year most houses were on the market not even three months before being sold, and as of now there are more than 800 homes up for sale. 

            “I think that is an indication that our sales are up so we have more homes being sold than being listed,” said Wilson.

In 2015 nearly 2,000 houses were sold which is good for this size market said Wilson.

Why the increase? Wilson explains the end of the drought has contributed to residents considering Wichita Falls to be their permanent home.

Also, Wichita Falls ISD improvements and expansions, the growth of Midwestern State University and United Regional Hospital are providing more job opportunities.

With many homes listed below $130,000, along with the city's salary range, many homes are affordable in the area. Wilson said that is one of the reasons many people make Wichita Falls their home. 

While right now is a good time to purchase a house, those in the real estate business are remaining hopeful the upcoming election will not affect market policies or interest rates.    

Copyright 2016 KAUZ All Rights Reserved

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