Tuesday, January 21, 2014

SABOR 2014 Housing Forecast Makes It Official...San Antonio is a Seller's Market!

Every year, the San Antonio Board of Realtors (SABOR) brings together industry professionals at its annual Housing Forecast to discuss the previous year's state of city real estate and to provide insight into current and future market conditions. 

Something special happened at the January 2014 SABOR Housing Forecast, and the Claus Team was there to see history made. San Antonio is now considered to have entered into its strongest Seller's Market since 2006. In December 2013, San Antonio had 4.2 months of available home inventory. Anything less than six months of available home inventory is considered a Seller's Market. Low inventory, combined with a 17 percent increase in sales in 2013 over 2012, means that it's official. It's a seller's market in San Antonio. 

According to Mario Hernandez, President of the Economic Development Foundation, that wasn't the only exciting statistic in San Antonio's real estate market. In November 2013, San Antonio's unemployment rate dropped to 5.6 percent, nearly a percent and a half lower than the national average. 

For more information about the 2014 Housing Forecast, including a list of speakers who presented at the event, check out SABOR's official recap of the event here on SABOR's website.

No comments: