Cold January Weather Didn't Chill Housing Sales

Despite National Woes, Bay Area Housing Prices Hit New Highs

Despite National Woes, Bay Area Housing Prices Hit New Highs

The chilly January weather didn't cool the local housing market, News Radio 1200 WOAI reports.

The San Antonio Board of Realtors reports today that January home sales, despite the three stretches of sub freezing weather last month, home sales jumped 4% over January of 2017 with 1760 homes sold in the metro.

That also pushed up sales prices by 2% to an average of more than $245,000.The median price, which is the place where half the homes sold cost more and half cost less, was $210,000, an 8% increase.

“The winter months have not deterred people from entering the housing market, and January proves that buyers are still taking advantage of the low interest rates and available inventory to make their moves,” said Gilbert Gonzalez, SABOR’s Interim CEO. “For anyone who has been on the fence about buying or selling, this is a great time to get started.”

Gonzalez also cited the fact that, despite all the talk about higher interest rates, mortgage rates remain historically low.  Many buyers may be speeding up purchases in anticipation of rates rising later this year.

SABOR pointed out that even with local housing prices rising, San Antonio home prices are still more reasonable than those in Austin or Houston.

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