Is The San Antonio Home Market On An Upswing?

Good news!

The S&P/Cash-Shiller U.S. National Home Price Index improved in the second quarter of 2009 versus the 2d quarter of 2008. Yes, that's good news, but keep in mind that, in the 2d quarter of last year, the nation's realty market was becoming woefully distressed. So it's wise to view the improved 2d quarter 2009 index figure with some caution. Most experts agree that, although the nation's realty market is becoming healthier, it may still be a few months way from being cured.

So, what's up with San Antonio's realty market. First keep in mind that, despite the economic gloom and doom around us, San Antonio's economy has remained relatively strong. Consequently, real estate sales activity has continue to march right along - at a somewhat slower, but steady pace. Granted, some neighborhoods have experienced deflated home values but it's too early to tell if the San Antonio area, in general, will close 2009 with lower across the board home values.

The good news is that, in July, San Antonio home sales were up, inventory down, and time to sell down. Average and median sale prices showed significant improvement; and, now, August sales data indicate the area will enter the usually slower fall and winter realty sales seasons in a much better condition than usual.

Our improving sales can be attributed, at least in part, to the increasing availability of mortgage money and the excitement generated by the $8000 first time home buyer Federal Tax credit program. It's comforting to know that the Federal government's economic initiatives may be bearing fruit. Let's hope the trend continues.

Here's this blog's take away message:

1) San Antonio's economy is sound, strong, and growing and our realty market is benefiting from the city's economic stability.

2) It's a good time to buy or sell a home in San Antonio.

3) To avoid losing the $8000 Federal Tax Credit, a first time home buyer (including someone who hasn't owned a home in the last 3 years) should act quickly to find and purchase a property. To receive the credit, the purchase must be closed before December 1, 2009.

4) Whereas homes in some San Antonio neighborhoods are not selling as well as in others, it's highly advisable for a prospective home seller to obtain the advice and assistance of an experienced Realtor (R) to determine the best marketing plan for his or her property based on actual sales data for the neighborhood and the surrounding area.

That’s all for now on this hot San Antonio afternoon (103 degrees at 3:10 P.M).

Here’s wishing you a happy home buying or selling experience. Stay cool.

Please don’t hesitate to call upon us if you need the help of experienced Realtors(R). We are Stephanie and Randy Kelley, Realtors(R) at Keller Williams Legacy, telephone (210) 867-8743 or (210) 863-2661, or (800) 201-9145. We put the reality in realty. Visit us at SanAntonioHomeQuest.com or E-mail us at swkrealtor@aol.com or kelleybus@aol.com