November Home Sales Reflect Oil Price Decline

With the fall of oil prices, the Houston market was able to maintain a strong resilience for home sales for 2015. Although October home sales was one of the first months to finally indicate changes due to oil price decline, November home sales sealed the deal. Home sales in Houston fell 10.5 percent last month in the wake of declining oil prices and slowing job growth.

The Houston Association of Realtors reported 4,595 single family homes were sold this November, which was a decrease of 5,135 home sales in November 2014. After a slow couple of months, it is clear that the exceptionally strong sales of this year has come to an abrupt stop. With the last quarter of the year ending, market analysists presume that December will follow in the same fate as November.

As for 2016? We hope that our resilient city can overcome the economic standstill, but only time will tell.

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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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