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HOUSTON HOUSING MARKET HELD STEADY THROUGHOUT 2016
The Houston area housing market was stable throughout 2016 despite fears of falling oil prices and layoffs. After a decline in 2015, single-family home sales increased 3.0 percent and is 1.3 percent above the homes sold in 2014.
Inventory levels grew during the first half of 2016, hitting a 4.0-months supply in July. Levels were down to a 3.3-months supply, at the end of the year, which is the same level as the beginning of 2016.
The Houston housing market had gains in December 2016 with single-family home sales and total property sales all up compared to December 2015.
Single-family homes inventory grew from a 3.2-months supply to 3.3 months. Inventory across the U.S. currently is at a 4.0-months supply.
