The Houston Chronicle
Buyers closed on 73,724 single-family homes last year, falling just 2.4 percent short of the market's 2014 sales peak, the Houston Association of Realtors said Wednesday.
"We have to remember the housing market from 2012 through 2014 was really quite extraordinary. It was really an overheated market," said Steve Spillette, president of CDS Community Development Strategies, a market research and economic analysis firm based in Houston. "We were adding so many jobs, and we really couldn't catch up."
That said, he added, "the hiring boom that drove so much of that increase in population and households in our region, that's over."
The slowdown in housing began to take hold late last year. December marked the third straight month of year-over-year declines in single-family home sales.
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