Thursday, February 18, 2010

What's the San Antonio Housing Market Doing in 2010 So Far?

In the San Antonio Express newspaper, Jennifer Hiller reports on the sluggish San Antonio housing market.  The highlights of her article include:
  • The median price of a San Antonio resale home was $139,700 in January, down 6 percent from the same month last year.
  • The number of January sales in San Antonio was essentially flat: 834 sales this year compared with 836 sales in 2009.
  • Homes  in San Antonio were taking an average of 92 days to sell in January.
  • In January, 127 sales, or about 15 percent of all San Antonio sales, were lender-owned.
Based on some encouraging fourth-quarter 2009 numbers, SABOR in January projected an increase in the number of home sales this year, along with possibly some price appreciation.  But the January 2010 numbers did not show that strength in our local market.  Hopes are still high for a strong recovery this Spring due to the coming warmer weather, the low interest rates and the tax credit deadline.

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