San Antonio’s Real Estate Growth
Home builders across the nation are feeling more confident about the industry, according to the National Association of Home Builders. According to a recent report, confidence levels have been the highest in the month of June than they have been in the past nine months. New-home sales rose 6.8% in April, while construction spending rose to its highest level since November 2008. The Realtors group forecasts that existing home sales during 2015 will be the highest observed since 2006, and along with increasing prices and demand, these have been healthy signs of a recovering market.
If the nation’s feeling the rise of a stronger housing market, then San Antonio is one of the best places to be buying a home. San Antonio’s real estate has been going on strong this year - gains in sales were in the double digits despite rising prices (mostly due to the rising cost of land, fees, and materials). One of the strongest areas growing in the real estate market are home sales. According to a report from the San Antonio Board of Realtors, there’ve been 9% more homes sold in May 2015 compared to May 2014. The median sales prices climbed up from $200,000 to $202,500 and the demand is still growing.
The strong real estate market in San Antonio has largely been influenced by the growing business sector - more military, medicine, and technology companies have begun moving to the region. Employees relocate to the city, attracted by the high income positions offered, and this large population of well-off employed professionals has always been a big driver in the city’s local real estate market. The increasing prices of homes have partly been due to the increase in demand and partly due to the increase in the quality of homes.
If San Antonio’s your next destination, consider a home purchase during this opportune time. At Princeton Classic Homes, we adhere to excellence to assure that our homes are built with quality in mind first. Check out our San Antonio luxury houses to find what your next home will be.