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Home Sales Blossomed in March

People are buying more expensive homes, and it’s not solely due to the oil industry.



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Last year, the uncertainty of oil prices had an effect on the housing market.

But Kenya Burrell with the Houston Association of Realtors says that oil had a smaller effect on the city than many may think.

"Having a diverse economy with healthcare, hotels and restaurants, public education we are not as oil dependent as we have been,” says Burrell.

Single-family homes sales went up 11.7 percent from last March.

And Luxury homes sales with prices starting at $750,000 have also increased.

"Not only have we noticed an increase in the categories of sales of homes, but we've noticed a surge in demand for the rental market,” Burrell says.

She says that it's a sellers' market right now because housing inventory is low, making finding a home more competitive.

On average homes sold for close to $285,000 which was the highest level for March.

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