Below is Hexter-Fair/First American’s latest look at the dollar volume of single family home sales in North Texas’ MLS system (NTREIS). In December, the dollar volume of home sales shot back up to $1.78 billion, which is 22% higher than December 2013 (which was the previous high for a December). This 22% year-over-year dollar volume gain was achieved with 12% more transactions and an increase in average sale price of 9%. It’s hard to say much more than “wow!” It will be interesting to watch whether oil’s dramatic price decline hurts our strong housing market in 2015. While consumers love cheap gasoline, the oil business has added a lot of jobs in DFW in the last few years, and a reversal into oil industry layoffs would put a dent into the positive momentum of our local economy. And if banks end up being weakened by oil company loan defaults, that would be a “double whammy” for us. Fortunately, our economy is much more diversified than in the mid-1980s and is better equipped to absorb the effects of falling oil prices.