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Home Sales Edge Up In April, As Warmer Weather Helps Boost Inventory

Buyers defied expectations that oil-industry layoffs would discourage big purchases.

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Houston-area home sales ticked up in April, according to the latest data from the Houston Association of Realtors. Single-family home sales for the month totaled 6,502 units, up 1.9 percent compared to April 2014.

The increase comes despite concerns that layoffs in the energy sector would convince would-be buyers to hold off on major purchases.

“The oil price change did not affect our market like anyone expected it to,” says Tim Surratt, a Realtor with Greenwood King Properties. “In virtually every category, everything’s up — the number of units that we’ve sold, the record average price [for April] is up to $281,000, which is 4 percent higher than last year at this time.”

The biggest volume of sales took place among homes priced between $250,000 and $500,000.

The region’s housing inventory edged up as well, reaching a supply of 2.9 months, as higher prices and warmer weather encouraged more sellers to put their homes on the market.

Inventory is a rough measure how long it would take to sell out the entire listed supply of housing. By comparison, the national supply comes to 4.6 months.

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Andrew Schneider

Andrew Schneider

Politics and Government Reporter

Andrew heads Houston Public Media's coverage of national, state, and local elections. He also reports on major policy issues before the Texas Legislature and county and city governments across Greater Houston. Before taking up his current post, Andrew spent five years as Houston Public Media's business reporter, covering the oil...

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