The San Fernando Valley’s resale housing market flirted with record low level sales in 2016, because inventory remained scant and prices climbed out of reach for many potential buyers, a trade association said Thursday. Last year sales of previously owned homes fell 4 percent from 2015 to 5,863 transactions, the second lowest level since full-year record keeping began in 1985, according to the Van Nuys-based Southland Regional Association of Realtors.