Wichita Falls housing market strongest it's ever been - Newschannel 6 Now | Wichita Falls, TX

Wichita Falls housing market strongest it's ever been

One Wichita Falls house One Wichita Falls house
WICHITA FALLS, TX (KAUZ) -

The Wichita Falls housing market went through a rough stretch during the drought.
But it has come back stronger than ever.
The drought dried up the market.
It is the biggest reason why there are affordable houses to buy and great opportunities to sell.
A perfect mix of factors has created the strongest market some have seen in over 50 years.
    "We went five years in a very dry drought season," Sandie Hadsell, President of the Wichita Falls Board of Realtors said. "And May of 2015 changed the thoughts of people of Wichita Falls."
    "People became a lot more optimistic about home ownership," Danny Steed, a Broker for Hirschi Realtors said. "They are not afraid to go out and make those decisions to buy and sell. And we saw a lot more activity as a result of it."
That activity has led to possibly the strongest housing market Wichita Falls has ever seen.
    "Anytime your lakes and water supply gets down to below 20 percent, people start having doubts about whether it's going to rain again," Steed said. "That impacts all kinds of decisions. Not the least of which is whether or not they want to live here. Do they want to own homes here? Will they be able to sell what they have when they need to?"
But there are more factors, which include positive economic development and low interest rates.
    "There's talk about interest rates going up," Hadsell said. "So the people that were maybe standing on the fence are now thinking we probably better do something before it get's so high we really can't afford to."
Steed believes it is a sellers market, but thinks buyers should be encouraged.
    "We've kind of got the best of both worlds," Steed said. "We've got affordability for buyers. We've got the opportunity for sellers to put their houses on the market and get them sold within a reasonable period of time."
Hadsell and Steed both believe 2017 will be just as successful as 2016.
In fact, Hadsell's goal is to have an even better year in 2017.
Hadsell believes people are looking at the community as a whole.
She said Midwestern State helps bring people to Wichita Falls along with Sheppard Air Force Base.

Copyright 2017 KAUZ News All Rights Reserved

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