Want to sell your Tyler Home? Get a FREE home value report Want to buy a Tyler Home? Search all homes for sale It's that time of year. We are at the end of 2015! Can you believe it? The year has just flown by, and it's been an incredible year in real estate. Our team has sold over 470 homes, but more importantly, sales in the Tyler area are up 8% to 10% from 2014. By the end of the year, we will have 4,500 homes sold in our area. Home prices are up about $7,000. This is all very positive. It shows how well our market has recovered over the last 24 months. We have experienced a shortage in inventory, especially for homes below $250,000. If your home is in that price range, you are definitely in a seller's market. That means there are more buyers in the market than sellers, which helps to drive home prices up. When you're in a seller's market, it's not uncommon to wind up in a multiple offer situation. Now, what can you expect from the real estate market in 2016? We don't anticipate any major changes in the market. The market is going at a brisk rate, and we have 35 to 40 homes closing this December. We already have 30 closings scheduled for January. We're extremely busy, even in the winter months. If you're a buyer, you do need to pay attention to interest rates. The Fed recently increased rates for the first time in several years. We do expect rates to continue creeping up over 2016. Now may be the best time to look at homes and take advantage of those historically low rates. A few months down the road, you may wind up paying a higher interest rate on your 30-year fixed mortgage. If you have any questions about today's video, give us a call or send us an email. We would be happy to help you!