Realtors, Economists give ETX economy good marks - KYTX CBS 19 Tyler Longview News Weather Sports

Realtors, Economists give ETX economy good marks

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TYLER (KYTX) -

The East Texas economy is on a roll. UT Tyler's fourth annual Economic Forecast Summit had a message of "clear skies ahead" on Thursday.

Meanwhile new numbers from the Greater Tyler Association of Realtors show that they are selling more houses--which are spending fewer days on the market. They're selling them so fast that some Realtors are wishing they had more options for their buyers.

Realtor Nathan Foreman with Tyler's Real Edge Real Estate said more buyers are just the beginning.

"We've seen a pretty good surge in the marketplace," Foreman said. "But what we're seeing now is a lot of those buyers maybe a year or two years ago were at the entry level. Maybe $100,000 or $150,000."

Now they're upgrading and buying more homes in the $400,000 range.

While Foreman was showing houses Thursday, East Texas business leaders were learning about the other good things going on in our economy.

Dr. Ronald Johnson was the keynote speaker at UT Tyler's economic summit. His resume includes two stints with the Federal Reserve.

"The United States is poised now to become the largest energy producer in the world, and [East Texas] sits pretty," he said.

Johnson said the government shutdown has done some damage to the national economy. He said even the discussions of the potential to default on debt were enough to spook financial markets.

But he said East Texas continues to out-pace the national economy and that the problems in Washington D.C. probably won't last.

"[Lawmakers] realize the damage would be so tremendous that it's just not worth this fight," Johnson said.

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