Monthly Archives: February 2013
The San Antonio housing market finished strong at the end of 2012 with a total of 19,940 homes sold, a 10% increase over the number of homes sold in 2011, according to the San Antonio Board of REALTORS® (SABOR) December 2012 Multiple Listing Service report.
The average sales price for single family homes sold in San Antonio in December 2012 was $192,789, a 4% increase from December 2011. The December 2012 median price was $160,200, a 5% increase over December 2011’s median price. Breakdowns in prices show that 64.6% of the homes sold were priced under $199,000, 32.04% homes sold were priced $200,000 – $499,000 and 3.17% of the homes sold were priced $500,000 and up.
Steven Gragg, 2013 SABOR Chairman of the Board commented on the report saying, “our local economy has fared well this year, and that stability combined with job growth has supported a strong housing market.”
San Antonio saw a 2.79% increase in non-farm jobs in 2012 as unemployment fell to a seasonally adjusted rate of 5.8%, the lowest rate in four years. Job growth is expected to continue as factors such as Joint Base San Antonio and oil and gas production in the Eagle Ford Shale continue to attract people, companies and jobs to the San Antonio metropolitan area.
San Antonio was recently listed by Kiplinger.com at number 8 on a list of U.S. cities with high job growth expected over the next 5 years, Kiplinger.com anticipates that San Antonio will add 150,000 more jobs over the next 5 years, which would be a 16% increase.
According to the National Association of REALTORS®, mortgage applications for home purchases have soared recently as buyers are taking advantage of historically low interest rates. As this demand for mortgage applications for purchases is viewed as a leading indicator for future home sales, early indications show that San Antonio can look forward to continued growth and increased home sales in 2013.