BUILDING BLOCKS – part 3

During our Great Recession, home builders cut production sharply, as did the firms that produce the materials used to construct homes.  Now that the housing market is recovering, tight supplies are driving prices up.  This upward trend should be temporary, lasting only as long as it takes for suppliers to get back up to speed.  Then prices will settle back some.  Inventories in “hot” Texas spots like Austin, San Antonio, Houston, Dallas and areas where there is an oil boom have a 3 or so month inventory of homes on the market.  Tyler and our East Texas area have near a 10 month inventory as builders built during the Recession so more houses on the market, but prices are creeping up.  Tyler and East Texas are GROWING!