Search

LisaLovesSanAntonio

You Will, Too!

Category

San Antonio Home Sales

San Antonio Housing Bubble?

Mention the words “housing bubble,” and what might come to mind are Dallas or Austin. But a report released from National Mortgage News indicated that home prices in the San Antonio-New Braunfels Metropolitan Statistical Area (MSA) were at all-time highs, while wages are remaining flat. The combination of high home prices and non-moving wages can create a housing bubble.
National Mortgage News noted that the price-wage growth gap for the region was 14%, with an affordability index of 77. Meanwhile, data from the San Antonio Board of Realtors found the median home sales price was $214,300, a record high.
Economists paint another story. Lawrence Yun with the National Association of Realtors said San Antonio home sales are 30% below than when the market crashed in 2008, meaning no bubble. And Jim Gaines with the Texas A&M Real Estate Center indicated that the metro continued to gain jobs.

Per:  February 2018 Issue Real Estate Center at Texas A&M University

San Antonio Home Sales for January

Everyone is always talking about how great the real estate market is in San Antonio…..but is it really the “hot” market they are saying it is?

This January 1760 homes sold….versus 1687 homes in January 2017.  The days on market for a home in January was 67 days….last January it was 62 days.

Some homes do “fly” off the market….so if you like a house, don’t wait for someone else to put their offer in.   67 days really isn’t very long for a house to get a SOLD sign and interest rates are starting to creep up.  If you’re thinking about a move….you should consider updating that prequalification letter and start your search before everyone else realizes that the house they could have bought last year is now out of their price range because of rising interest rates.

We’d love to help you sell your home or find your new one.

Give us a call at 210-273-6161 or email us at Lisaharder@live.com.

Blog at WordPress.com.

Up ↑