July 2015 Home Sales in Houston Set Record, Despite Falling Oil Prices

Despite growing concerns in the Houston real estate market, declining oil prices have still not penetrated home sales in the area. In fact, July 2015 was the strongest month this year for home sales, with a total of 8,147 homes sold. According to the Houston Association of Realtors, Houston homes sales have only exceed 7,000 a few times in the past few years.

When oil prices fell last summer from over $100 a barrel to less than $50 a barrel currently, market experts were concerned about the market as we have discussed in previous blogs. However, homes sales have not plateaued and mortgage interest rates remain at 4 percent. Even with energy company layoffs, business hiring in Houston has remained strong and our economy has proven resilient.

Houston has proved that it is more than just an “oil town” as other parts of our economy are making up for the loss of jobs in the oil field. This resilience has carried the real estate market to new records. In fact, according to HAR, July 2015 home sales reflected a seven percent increase over July 2014.

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About fulshearrealestate

With over 20 years of working in the greater Fulshear/Katy market, RE/MAX Realty West has become an integral part of the community and the number one choice for clients to find their next home. We are intimately familiar with the rich history and the wonderful communities that this area has to offer, not only because we work here, but because this is the community that we, ourselves, call home. As a friendly, boutique office, our goal is to provide our clients with an unequaled level of service. Whether you are finding the right home or looking to put your current house on the market, RE/MAX Realty West can help you every step of the way. Our experience helps clients find the right home, in the right location. We specialize in the greater Fulshear and Katy communities including Weston Lakes, Fulbrook, Cross Creek Ranch, Fulshear Creek Crossing and Firethorne. We also serve the acreage communities along the FM 359 corridor, which include the quaint neighborhoods of River Forest, Texana, Woods Edge and Grand River. Additionally, we handle the large Katy Master Planned Communities including Cinco Ranch, Seven Meadows and Grand Lakes.
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