San Antonio Home Inventory Levels Still On The Decline
Welcome news to San Antonio sellers
The past six months have seen an overall decline in San Antonio home inventory. Although the San Antonio real estate market has still not shifted over to a seller’s market, we have certainly moved a little but closer (see chart below). It will be interesting to see the results as we move into the hat-trick of holidays (Halloween – Thanksgiving – Christmas) that typically signifies a slow down in home sales. As inventory begins to become less and less, expect buyers to start looking more (afraid that all the “deals” are going fast) and prices to rise. While no one can ever accurately predict the real estate markets, the signs are there for a much better 2010 (2009 is already looking much better than 2008).
The Market Action Index is a function of supply and demand. At 30 we are considered to be in a balanced market. Anything below 30 is a buyer’s market, while anything above is a seller’s market. As you can see, we are still have a bit of a climb to reach a balanced market, but when compared to where we were six months ago, we’re making headway to clearing out some of our San Antonio housing inventory.
Not all areas are created equal.
These charts are all based off of general San Antonio market data. Of course, the real estate mantra is “location, location, location” and San Antonio is no different. Depending on what area of the city you live in, you might be experiencing a much different real estate market than the overall city’s market. If you’d like to get more specific information about your zip code, register below to receive my weekly San Antonio real estate market reports direct to your inbox or use our customized Market Reports section of the site that gives you complete control over the data you wish to see. If you have questions about what the data means to you in your situation, justt contact me and I’ll be happy to guide you through the data.
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Comments
Nicely written and I think that the recession is the reason for this.
Anyway the effects of recession has come to an end which started with the bad news of shutting down of Lehman Brothers.
Hope the economy will pick up again.
Thanks
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