The forecast for this year’s housing market looks sunny and bright. Here’s why.
We have a great outlook for the San Antonio real estate market in 2019. This is due to three big indicators:
1. It’s still a seller’s market. Homes are averaging a low number of days on market, meaning there’s little supply with a lot of demand. We’re at 58 days on market throughout all of our Texas cities.
2. We have a strong job market. Wages have increased in San Antonio by 3.2%—the fastest and highest increase we’ve had in a decade. With higher wages come higher prices on houses, and we’re seeing the median price for homes at about $260,000.
3. Interest rates are still low. This is great news for you buyers out there. The Fed also announced they’ll be pausing upcoming rate hikes. Economists don’t expect an increase until around June.
If you have any questions or need more information, feel free to reach out to me. I look forward to hearing from you soon.