Housing market up in January, but sales expected to cool

"Despite the recent plunge in oil prices, Houston's housing market remained on top last month.

Sales were up 6.1 percent in January as buyers closed on 4,032 single-family homes for a median price of $190,000, according to a monthly report from the Houston Association of Realtors.

Sales activity was strongest in the $250,000 to $500,000 price range, while homes less than $150,000 showed declines. The pace of sales has started to slow among homes priced higher than $500,000.

Though it's still technically a seller's market, the amount of housing inventory ticked up slightly in January to 2.6 months, from 2.5 months in December. Months inventory estimates the time it would take to sell all the homes on the market based on the previous year's worth of sales. The market is considered balanced when inventory is at around six months."

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https://www.chron.com/business/real-estate/article/Housing-market-up-in-January-but-sales-expected-6075367.php