Strong market health is what has been keeping San Antonio a great place to buy and sell real estate in 2017. Per San Antonio’s Board of REALTORS®, “It may be getting cold out, but home sales are still hot in the San Antonio area,” (Westrum, Nov. 2017).
The Great Recession, which has now been termed the Global Financial Crisis or GFC occurred nearly 8 years ago and it seems our policy makers have learned a thing or two from our past recovery plans. In the annual publication from ULI and PWC, Emerging Trends in Real Estate® 2018, economists find our recovery to be significantly more controlled than previously experienced.
“The case for the soft landing starts with the slow pace and moderate
scale of the post–global financial crisis (GFC) recovery.
Based on Newton’s third law (‘For every action, there is an equal
and opposite reaction’), the gradual slope of economic increase
since 2010 lacks the obvious characteristics of a ‘boom’ that
would trigger a compensating ‘bust’ to correct its excesses.
This recovery has seen gross domestic product (GDP) growth
averaging just 2.1 percent annually—hardly a ‘boom.'”
-Emerging Trends in Real Estate®
Across the board, total sales, average price and median price have all risen compared to 2016 at a rate of about 7%. Half of all homes in San Antonio value between $200,000 and $499,000 with about 44% of homes valuing below $199,000.
San Antonio, and Texas in general, are still viewed as one of the more affordable markets to own real estate, and look to stay affordable in 2018. However, with a limited supply of new construction being built at the lower affordability, most of San Antonio will be demanding more down-payment assistant or using government programs when purchasing real estate.
In conclusion, San Antonio’s housing market is growing at a healthy rate and remains a great place to buy or sell real estate into 2018.
The Schrader Group,