Advice for Consumers

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. 

It’s not going to fix itself … really

I’m not sure who’s more to blame: me or the woodpecker.

About a year ago, I heard a knocking noise coming from a bedroom in my house. I discovered that it wasn’t coming from the room, but outside it—a woodpecker was having quite a time on a trim board near the roof.

I poked my head out the window and saw that the bird had made a small hole in a rotting section of the board. I should fix that soon, I thought.

I should’ve fixed that sooner
Fast-forward to this week. I noticed that the siding below the woodpecker’s handiwork is showing signs of rot in several places and there are now two large holes instead of a small one.

Not only has the woodpecker been back, it appears that his holes allowed water to make its way behind the siding.

Penny wise, pound foolish
The original trim replacement, which I should’ve done months ago, is a perfect example of the maintenance that you need to perform regularly as a homeowneror eventually face more expensive, involved repairs.

And what if you decide to sell? Unless you’ve kept up with the maintenance on your home, you’ll suddenly be faced with a long list of projects you’ll need to complete to get your home in its best condition. Otherwise, you might need to reduce your asking price.

I’d like to blame the large bill for next week’s siding and trim replacement on avian vandalism, but I think I’m as culpable as the woodpecker.

What is a Texas REALTOR®?

Not all real estate agents are REALTORS®.

Only those who agree to abide by a code of ethics that goes beyond what the law requires may join the Texas Association of REALTORS®.

Read the REALTOR® Code of Ethics

Texas REALTORS® do more than help you buy and sell real estate

They protect the rights of property owners. They fight proposals that would increase the burdens on buying, selling, and owning real estate. And they bring property-owners’ concerns to the Legislature, regulatory agencies, and local authorities.

Learn more about how Texas REALTORS®  can help you