Home Buyers Are Finding A More Crowded Field Of Competition In San Antonio

After several years of strong and steady increases in residential home sales and prices the San Antonio market shows no signs slowing.

June 15, 2019 / / —

“Population growth and employment are the key drivers of any city’s residential real estate market and we are getting plenty of both in San Antonio,” stated R. D. Campbell, owner of San Antonio Home Buyers, a group of house buyers in San Antonio. “And with our lower inventory levels we are seeing multiple home buyers making offers on a single property. This competition is leading to offers above the asking price for the home. The advantage goes to those who are swift or can make all cash offers or both,” he said.

A recent report released by the San Antonio Board of Realtors documented the upward trends in the residential housing market. One of the most significant numbers released was the 32,000 sold homes in 2018. That was an all-time high for residential transactions. Prices also saw corresponding up-trends with a five percent increase in the median sale price to $225,600 for 2018. Inventories of homes for sale have ranged between 3.2 and 3.6 months which is near historic lows. A normal inventory level is considered to be five or six months of inventory.

“We have also seen a sizable jump in the sales of higher prices homes above $350,000. This suggests that there are more home buyers in San Antonio with higher levels of income. Employment in the technology and medical sectors is strong as well as the military. However, San Antonio still remains one of the most affordable large cities in the country. Almost 40 percent of all home sales last year were below $200,000,” commented Mr. Campbell.

San Antonio saw a huge increase in the percentage of homes sold above their asking prices in 2018. A Zillow report stated that 44 percent of all San Antonio homes sold were above the asking price in the latter half of 2018.

San Antonio’s population is above 1.5 million people and when the broader metro area is viewed the population number nears 2.5 million. Census numbers document San Antonio’s growth rate to be more than the double the national rate during the seven year period between 2010 and 2017. This type of rapid growth fuels demand for both rental and owner occupied housing.

“We are five months into 2019 and the upward real estate trends in San Antonio are very similar to last year. In addition to being one of the most historical cities in the United States, San Antonio is also one of the most desirable with a great climate and low cost of living. When compared to Austin, with average home prices in excess of $400,000, we look like a bargain. Plus we have some really good Mexican food here,” said Mr. Campbell.

San Antonio Home Buyers is focused on buying houses from home sellers who need to sell quickly, have a life changing event, or have a house that is in need of numerous repairs. They often buy houses, repair and remodel them, and then put them back on the market with a traditional realtor.

Company Name: San Antonio Home Buyers
Contact Name: R. D. Campbell
Country: United States
Phone: (210) 461-5996
Email: info@sanantoniohomebuyers.net
Website URL: http://SanAntonioHomeBuyers.net/

Contact Info:
Email: Send Email

Source URL: https://marketersmedia.com/home-buyers-are-finding-a-more-crowded-field-of-competition-in-san-antonio/524858


Release ID: 524858

More News From Biz Daily Online

Asian stocks gain after US, China announce truce on tariffs

Nov 20, 2019

BEIJING — Asian stock markets have risen after Washington and Beijing announced a truce on tariff hikes in a trade war. Benchmarks in Shanghai, Hong Kong and Seoul advanced. Japanese markets were closed for a holiday. President Donald Trump agreed Friday to put off planned tariff hikes this week on Chinese goods in a fight over Beijing's trade surplus and technology plans. In exchange, he said China would buy American farm goods. But the two sides reported no progress on basic disputes that sparked the 15-month-old fight that threatens global economic growth. Friday's truce "has simply temporarily halted the escalation...

Stocks mixed, oil down as markets await news on Saudi plant

Nov 20, 2019

BANGKOK — World shares were mixed on Tuesday and oil prices eased back pending updates on restoring output at a Saudi Aramco oil processing plant damaged by an attack over the weekend. Chinese benchmarks led declines in Asia after the credit ratings agency Moody's downgraded Hong Kong, citing its recent political turmoil. Germany's DAX lost 0.2% to 12,362 after the ZEW index showed a drop in investor confidence in current economic conditions, pointing to the possibility of a brief recession, but sees a pick-up later in the year. The CAC 40 in Paris added 0.1% to 5,607 and the FTSE...

HK stocks surge on withdrawal of law that sparked protests

Nov 20, 2019

BEIJING — Hong Kong stocks surged Wednesday as the government withdrew a proposed extradition law that sparked three months of protests in the Chinese territory. Hong Kong's benchmark Hang Seng index jumped 3.9% on news of plans for the withdrawal, which Chief Executive Carrie Lam confirmed after markets closed. The protests have disrupted travel, adding to pressure from weakening global trade. Elsewhere, benchmarks in London, Frankfurt, Shanghai and Tokyo rose following surprise weakness in U.S. manufacturing as Britain's Parliament fought over plans to leave the European Union. In early trading, London's FTSE 100 gained 0.8% to 7,326.65 and Frankfurt's DAX...

Asian stocks mixed after US, China impose new tariff hikes

Nov 20, 2019

BEIJING — Asian stocks were mixed Monday after Washington and Beijing escalated their trade war with new tariff hikes. Shanghai and South Korea advanced while Tokyo and Hong Kong declined. Markets reacted less strongly to the weekend tariff hikes on billions of dollars of goods than to previous increases. Investors are hoping for progress in talks this month, but analysts warn the fight over trade and technology is unlikely to be quickly resolved. "The short-lived truce will probably provide limited relief," said Zhu Huani of Mizuho Bank in a report. "Businesses have become increasingly uncertain about future prospects, evidenced by...

Global stocks higher ahead of US Fed chairman's speech

Nov 20, 2019

BEIJING — Global stock markets rose Friday after Wall Street declined ahead of a closely watched speech by the U.S. Federal Reserve chairman. Market benchmarks in London, Frankfurt, Shanghai and Tokyo all advanced. Investors are looking to Jerome Powell's speech Friday for signs of direction on interest rates after two regional Fed presidents said they see no need for a change. Investors expect a cut in September, the Fed's second in three months, to shore up U.S. economic growth amid a tariff war with Beijing and weakening global growth. "Markets seem very clearly positioned for some very dovish guidance from...

About Us

Biz Daily Online gives a complete understanding of the world of business to you. Get today’s business news and learn about the trends that are affecting every business here.

Contact us: sales[at]bizdailyonline.com

Subscribe Now!