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    San Antonio luxury home sales up 26% over year before

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    The sale of luxury homes — those priced at $1 million and more — was up in San Antonio 26 percent the first 10 months of 2014 compared with the same period in 2013, according to a study released Monday by the Texas Association of Realtors.

    However, the total number of home sales — 107 — pale in comparison to Texas’ other major cities: Houston (1,194), Dallas-Fort Worth (926) and Austin (479).

    Facebook Ad #4 (1)Real estate agents cite the influx of people moving to San Antonio — whether it be people moving here because of the Eagle Ford Shale or California transplants looking to upgrade their homes.

    “Some of that is the offset of San Antonio feeling some of the effects of the Eagle Ford Shale — some of the riches — some of the people who made money down in the oil field,” said Jim Gaines, research economist at Texas A&M University’s Real Estate Center, which compiled the report’s data. “Some of it’s general prosperity. … It’s also tied to low interest rates. Even for jumbo mortgages, the rate was more or less (the same as) conventional rates if not a little bit lower.”

    BY: BENJAMIN OLIVO at My San Antonio

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