Texas residential real estate sales up, inventory at all-time low

Projections for a strong second and third quarter could be at risk because of floods
  • Residential home sales spiked in the first quarter of 2016.
  • Inventory reached all-time low in Texas at 2.8 months.

The first quarter of 2016 disproved any forecasts of a calm period following a five-year boom in Texas residential real estate. With residential real estate sales increasing 7.8 percent to 65,265, the promise of a growing job market seems to be attracting more buyers.