Large investments limit housing supply in Texas – KTEN [Video]

DENISON, Texas (KTEN) – It may be harder for folks to call the Lone Star State home due to large investors buying up properties which limits inventory for both realtors and potential homeowners.

“Hopefully the interest rates come back down a little bit.”

North Texas is preparing for rapid growth with more housing options, but the supply has been an issue for realtors in town due to investors purchasing large quantities of property.

“It impacts us as individual realtors because it takes inventory off the market,” said Tommi Sue Homuth, owner of Tracy Realty in Denison. 

Single family homes are a hot commodity in town. 

“Housing prices have gone up in our area and with interest rates on loans going up it has made it more difficult for buyers to buy a single-family home here. So, interest rates are coming down a little bit which is good but when you’re competing with cash buyers it makes it very difficult,” …