Written by Liz Voss.
In 2006, San Antonio real estate companies saw a boom in sales.
Because of the national decline in the economy, that boom was short lived, but there are indications that 2012 can signal a return of activity in the market. The slow progression of the economic recovery will temper what would otherwise be a very hot market in not only the state, but also the nation in general.
Notwithstanding, indicators point to a growth for San Antonio real estate companies in the city, Bexar county, and outlying areas. Three of the primary reasons why anticipation and promise are high are:
1. Employment - Higher than the national average
2. Growth - Steady, not falling off as in many metropolitan areas
3. Home Prices - More reasonable than the national average for a city
Low Mortgage Rates Prompt Sales for San Antonio Real Estate Companies
Because mortgage rates have stayed low, there has never been a better time to purchase a home as San Antonio real estate companies have been suggesting for some time. Employment opportunities in San Antonio make buying a home the right move for most young families. The Eagle Ford Shale oil play to the south promises to be the next major gas and oil play in the country. It is pumping money into the community and creating a demand for workers.
Home Inventory with San Antonio Real Estate Companies
2012 promises to see more resale of existing homes, but San Antonio real estate companies are finding more activity among builders of new homes, too. The number of homes currently for sale is approximately 1,400 less than at this same time last year, showing that the demand is eating into any excess product. With less than 10,000 homes on the market, inventory is extremely low, but it should rise as more homes come on line in the next few months.
Low inventory is an indicator that the market is shifting to a six-month supply range, or in more meaningful terms, a balanced market. It has been several years since such a condition has existed in San Antonio. What this indicates is that neither the seller nor the buyer has a distinct advantage.
While closings this year have produced a slightly lower average dollar amount than was true last year, the prices are already beginning to rise, heading toward spring. By early summer, indicators show a slight advantage to the seller and prices promise to be above last summer's returns. The five-month average for a listing to be on the market should also decrease this year.
If you will be making a move my area call me for a short consultantion at 1-866-549-8677, or visit www.LizVossRealEstate.com.
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