In March 2014, there are too few new and resale homes on the market and there are too many buyers looking for a home to buy. Consequently, competition for available homes is keen, home prices are rising, and home sellers have the advantage over buyers when it comes to negotiating the price, terms, and conditions for selling their homes.
But, there are changes in the wind.
Although, for the time being, the market favors sellers over buyers, there are signs that there is a correction underway.
Why?
A major factor is the fact that more San Antonio area residents feel they can afford to sell their homes because, due to rapidly rising home values, home owners are now in a positive equity situation (meaning they owe significantly less on their mortgages their their homes are worth).
Another factor is simply market timing. March and April are strong home sales months in the San Antonio area.
So, during the first week of March, new listings have increased dramatically and the supply of available homes is gradually but steadily creeping upward. If the trend continues, the average home seller's advantage will likely weaken as the home sales market becomes balanced.
The bottom line is this.
Following on the heals of the highly successful 2013 home sales year, San Antonio has all of the right economic conditions for a vibrant spring and summer 2014 residential sales market.
The nearby Eagle Ford Shale oil/gas boom is a highly significant factor, especially for home sales in the neighborhoods nearest the oil and gas fields south of San Antonio and Bexar County.
Also, San Antonio homes remain highly affordable and mortgage interest rates are exceptionally low for well qualified home buyers.
In summary, here is our advice for buyers and sellers in this March’s San Antonio home sales market. Don't delay. Act now to take advantage of this month's strong market.
That’s all for our March 2014 San Antonio bases area realty market report.
We encourage reader commends and recommendations about how to make our reports more informative and useful.
Please visit our sanantoniohomequest.com website for more information and access to our highly rated San Antonio homes for sale search engine.
If you have questions, need San Antonio realty or mortgage loan advice and assistance, or just want to chat a bit about the Alamo City area, please call us at (210) 863-2661 (Randy) or (210) 867-8743 (Stephanie).
We’re Randy and Stephanie Kelley, Realtors ® at Keller Williams Legacy, San Antonio, Texas.
Our never ending goal is to help you get the best price, terms, and conditions for your residential realty investment.
