Oil Prices & Pending Home Sales

 

Home prices achieved record highs for February 2015.  

Houston inventory is 2.7 months.  

 

“Houston ranks as No. 2 job market in the U.S.”

(according to a new report by Forbes)

In addition, the Texas Workforce Commission just declared 2014 one of the best years for job creation in Houston with almost 105,000 jobs added and continued hiring expected this year.  More jobs than anytime in history and 58% are paying more.

Forbes reported significant job growth in the Houston metro area, which includes The Woodlands, TX and Sugarland, TX.

Lower priced oil prompted thousands of layoffs since December 2014 in the Houston, and many may be concerned.  But things really aren’t that bad, at least according to Forbes, they ranked Houston second strongest job market among 150 major American cities.

I have personally encountered more inquires on selling and purchasing.  In addition, mortgage rates are still very low.  Many existing homeowners are refinancing.  I am grateful to live in a city that’s diversity help sustain the market in comparison to other cities that simply can’t.

Jennifer L. Ciulla

RE/MAX Fine Properties