What low oil prices really mean for Texas home sales

What do you get when you mix rising demand for Texas homes with decreasing inventory? The perfect recipe for a strong seller's market. And that's just what happened in the second quarter of 2015, according to the latest Texas Quarterly Housing Report, despite concerns that lower oil prices would have a negative impact on the statewide housing market. "Texas home sales are actually stronger than they were this time last year, when oil prices were nearly $100 a barrel," said Scott Kesner, chairman of the Texas Association of REALTORS®. "This is further evidence of the strong and enduring demand for Texas real estate." The report, released today by the Texas Association of REALTORS®, also shows that demand for Texas homes in the second quarter of 2015 kept statewide inventory low at 3.8 months. The Real Estate Center considers 6.5 months inventory to be a balance between supply and demand. Download the full report to see how your market performed in the second quarter of 2015.