From the Builder Housing Forecast: New home starts in San Antonio were down to 8700 for ’08. With a 2.1 month supply, San Antonio has the lowest number of new homes finished on the ground than any other major city in the United States. In 2008, San Antonio builders sold more homes than they started, thereby significantly reducing inventories. In '08, Texas started more homes than any other state, had the greatest population gain over any other state and the greatest job growth of any state. Outlook projection: Look for it to take 3-6 months to see a real pickup in sales. 2009 will likely be slightly better than 2008.
From the San Antonio Express News: San Antonio's luxury home niche is suffering from excess, with the local market having a 48 month supply of homes priced over a $1 million. The area's lowest inventory is priced $250,000 and below, which makes up 74% of the market. That's a 7 month supply while 6 to 6.5 months is considered ideal.
Also from the San Antonio Express News: Texas is still the leader in price appreciation. Texas was one of just three States showing "meaningful price increase” in the 12-month period ending 10/31/08. Texas showed a 2.7% increase in median home price. Only West Virginia and South Dakota exceeded Texas.
Lackland Air Force Base is gaining 363 new single-family and duplex units. The developer plans to invest $142 million in the new housing starting this spring
No comments:
Post a Comment