Last year, Realtors sold 76,449 single-family homes in Greater Houston – almost 1,000 more than in 2014, the previous record year, and up 3 percent from 2015.
Cindy Hamann, chairman of the Houston Association of Realtors, said many were surprised when the market seemed to stabilize in the first quarter after a below-average 2015.
“About April it started picking up and then after the election things started happening,” she said. “I think the consumer was tired of the doom and gloom and tired of the election and everybody got back to business.”
Only upper-end homes seemed to be affected by the oil downturn, Hamann said.
“Our luxury properties took a dive during the latter part of the summer,” she said. “That’s when oil companies and (other) companies were starting to lay off.”
But by the end of the year, the upper-end market had recovered.
In December, sales of homes above $500,000 increased 23 percent compared to a year earlier.
Hamann expects sales of all homes to increase even more in 2017.