Last week I attended the San Antonio Board of Realtors 2012 Housing Forecast. Attendees included Bexar County Judge Nelson Wolff and San Antonio Mayor Julian Castro. Most notably for real estate, Dr. Jim Gaines research economist for the Real Estate Center at Texas A&M University was in attendance and delivered his thoughts for the real estate market in 2012. His overall message was clear; it’s a great time to buy! Gaines highlighted the strength of the market in Texas and especially in San Antonio because of our significant and continuing job growth. Mayor Castro seemed to be convinced as well, proudly stating that in 2012 San Antonio would experience more job growth than any other city in Texas! Job growth means more people moving to San Antonio, which means a higher demand for San Antonio real estate. High demand will drive values up, which is great news for homeowners. Sweetening the deal for today’s buyer are historically low interest rates. These rates are increasing buying power as well as bringing new, younger buyers into the market. Unfortunately, this “picture perfect” time won’t last forever. As more buyer’s move into the San Antonio area the number of properties on the market will begin to decrease, which will ultimately drive prices up and bring buying power down. Buyers must also remember that mortgage rates this low won’t last forever. The bottom line is simple; if you’re thinking about buying San Antonio is the place, and there may not be a better time. If you’ve got questions about the buying process our knowledgeable agents will be glad to help. When you’re ready to start the search or if you already have a property in mind, just call us or fill out a contact form.
Research Economists Say It’s A Great Time To Buy in San Antonio
January 13, 2012 By