San Antonio exercises its growth as home prices push up!

​SAN ANTONIO – A growing population, a limited supply of
domiciles and low mortgage rates keep pushing up home prices in San Antonio,
but at a slower rate than in recent years.

The median sales price for a home in the San Antonio metro
area grew to $195,500 in 1Q2016, a 5.8 percent increase from the year before,
according to a study by the National Association of Realtors. 

Prices have increased almost every month for the last couple
years, raising concerns about whether San Antonio’s reputation as an affordable
city is at risk. 

This year is on track to be another record one for local
home sales, challenging last year’s high of 27,154 homes sold.

Housing supply in the San Antonio area has been restricted
for the last few years. 

The inventory, measured by the average time it takes for a
home on the market to be sold if no new homes are listed was at 3.8 months in
March, well below the six months that indicates a balance between buyers and
sellers.