The association reported 6,502 single-family homes were sold here last month, typically a robust month as sales kick into high gear for the spring buying season.
Many have been expecting an economic decline in Houston because oil prices have fallen from about $108 a barrel last summer to about $60 a barrel today and major energy companies have announced layoffs. But so far, home sales in Houston are keeping pace with sales in 2014, which was the best year ever for home sales in Houston.
"The Houston real estate market is doing quite well despite low inventory levels and concerns about the effects of declining oil prices," said HAR Chair Nancy Furst. "Realtors I speak to regularly tell me that business remains strong, and April’s uptick in inventory means consumers had the benefit of more homes hitting the market. We will have to watch and see how layoffs in the energy industry affect home sales in the months ahead."
Our twice-weekly e-newsletter provides a quick overview of Texas real estate markets. Because your time is valuable.