Any weakening of the housing market isn't being seen in the San Antonio metro area, News Radio 1200 WOAI reports.
The San Antonio Board of Realtors reported today that sales of homes in the metro in July, which is traditionally the busiest month for home sales, was up sharply last month, up 11% from July of 2017.
“The city coming together to attract new businesses to San Antonio is a big factor in keeping a hot housing market,” said SABOR Lorena Peña. “One of the draws for any business is affordable housing solutions for its workforce and all areas of San Antonio fit the bill.”
But the busy market for homes is making the market a little less affordable, with average prices for homes sold last month up 2% to $261,800.
SABOR says the length of time a home stayed on the market was down in July as well, and the inventory of homes available fell to 3.7 months. Six months inventory is considered a 'healthy' housing market, and anything less than that is considered a very vigorous market.
The number of homes on the market last month roe to 4,217, up from 3,978 in July of 2017.
But the average price in metro San Antonio is still more affordable than the statewide average of $294,184.