Tag Archives: San Antonio Board of Realtors

What Does the Future Hold for San Antonio Residents?

What Does the Future Hold for San Antonio Residents?

It certainly was an interesting 2016 for San Antonio as our beautiful city continues to grow – proving year-after-year that it’s one of the best cities in the country to live. Although the recent and tumultuous political climate may seem to have put a momentary damper on things, we have good news to share!

Although housing prices are rising, San Antonio still offers a surprisingly low cost of living and low cost of doing business in comparison with other metropolitan cities. The San Antonio Board of Realtors predicts the market here will continue to boom, which ultimately is a great thing for everybody. Mortgage rates should still remain relatively low and the job market should be hotter than ever, bringing more people to the city.

A real estate economist, Dr. Mark Dotzour suggests that, “the average Texan is having a hard time finding a home to buy.” We think that’s just a perfect reason to have us build one for you. We can help you find the ideal land for your particular needs and work within your budget to create your dream home. We prove time and time again that it can be done!

Here are some of the expert’s predictions for 2017 that will effect not only San Antonio but the entire U.S.:

  • Realtor.com suggests growth in 2017 will happen slowly, in moderation. They also predict that home prices will increase at 3.9% annually, compared to approximately 4.9% this past year.
  • In the top 100 metro markets, inventory has dropped 11%, which means that there are fewer homes on the market.
  • The housing market is at low risk of crashing in 2017.
  • Thank goodness gas prices have dropped because in 2017 it looks as though more people will be driving in from the suburbs for work, regardless of urban developments.
  • Renting will become more affordable this year.
  • Millennials and boomers are gearing up to take over the market.
  • You can expect to see a trend towards government deregulation.
  • According to gordcollins.com, the economy will keep going. Thus, proving to be the longest business cycle in history.

We hope you feel as confident as we do that there’s no better time to bring your domestic vision to life! Please call us at 210-494-5400 to set up a free consultation. If you wish to be added to our private email list for our newsletter, please sign up here.


Mid-Year Market Update

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Nationwide, the housing market is still very strong, with new home and existing home sales being consistently steady all year. Now that we’re hitting the mid-way point, we thought we’d check in and see just where we’re at, both nationwide and in San Antonio. Here are some highlights:

-          U.S. existing home sales just hit a 9-year high, according to CNBC. Chief economist, Mark Fleming, says the property market is close to its full potential.

-          Unfortunately, new home sales dropped 6% in May, but we’re thankfully not seeing those same numbers in San Antonio.

-          The National Association of Realtors just released that the median national home price across America just hit $239,700 for homes sold in May, which is the highest since they began tracking it in 1968. The state of the housing market indicates that while the market is recovering nicely, the biggest hurdle is housing affordability. Those in the Midwest are seeing more affordable housing markets due to supply, but not surprisingly, housing costs in areas like Orange County are rising faster than a runaway bull. We are also seeing markets across Texas exceeding peaks from 2006. Can you guess which ones? As suspected, it’s Dallas and Austin, and that’s because in Texas we didn’t see home prices fall as far during the crash.

-          According to the San Antonio Board of Realtors, we are still one of the nation’s most affordable large metropolitan area home sales markets. Chairman Bob Jacobs recently said, “Our average and median sales prices continue to see some growth each month, but at a manageable pace that keeps our city affordable and stable.  We expect this trend to continue throughout the summer.”

-          Good news for home buyers! The average sales price data indicates a slight slowing down in the dramatic price increases chalked up in 2015 (10%) and 2014 (4%).  If the trend continues until July, end of the home sales high season, it might be an indicator that San Antonio’s long seller’s market may be ebbing.

We’re incredibly grateful to live and work in the San Antonio area! If you don’t and would like to, consider a custom home designed specifically for you and your family. Our focus is on providing impeccable customer service and quality. We care about bringing your dreams to life! Call us at 210-494-5400 for a consultation. If you wish to be added to our private email list for our newsletter, please sign up here.