San Antonio home buyers and sellers should take note of this recent development that’s likely to reflect conditions affecting the local residential realty market in coming months.
Comparing economic growth and prosperity for 200 large metropolitan areas, the Milliken Institute has ranked San Antonio as number 1 on its Index of Best Performing Cities for 2011.
The Milliken Institute is an economic think tank whose mission is to improve the lives and economic conditions of people in the United States and around the world.
San Antonio was previously 13 places below other large U.S. cities, but, this year, after considering San Antonio’s strong performace in the areas of job availability, wages, and technological advancement, the Institute moved San Antonio to the top position.
Contributing factors were economic boosts realized from the area’s Military Base Realignment and Closing projects (about $3.8 billion in facility construction) and the financial impact of the Eagle Ford Shale oil and gas boom underway just south of the city.
How do those conditions impact on Alamo City area home buyers and sellers?
The new year is likely to see an unusually active realty market, shifting gradually from the current weak buyer’s market to a balanced market favoring neither buyer’s or sellers and seeing a significant reduction in the inventory of available homes and corresponding price increases for both resale and new construction homes.
For more information, contact a member of the SanAntonioHomeQuest.com Realty Solutions Team. All team members are professional residential realty analysts and negotiators dedicated to helping home buyers and sellers get the best price, terms, and conditions for their real estate investment. Please call on us when you need advice about the best way to go about buying or selling a San Antonio home.
Contact Randy Kelley at (210) 863-2661 - kelleybus@aol.com - or Stephanie Kelley at (210) 867-8743 - swkrealtor@aol.com .
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