Risin’ up, back on the streets for San Antonio housing

SAN ANTONIO – The records keep falling in the San Antonio housing market.

In May, the median price of a single-family home surpassed $200,000 for the first time.

In June, 2,925 homes were sold — a record number according to data released by the San Antonio Board of Realtors (SABOR). The record is a 17.8 percent year-over-year increase.

The second highest month was June 2006, when 2,812 homes were sold, according to the Real Estate Center at Texas A&M University.

Experts attribute the records to the continued prosperity of San Antonio’s economy.

“People are working; more jobs are being created,” said Jim Gaines, research economist at the Center. “Incomes are going up.”

And San Antonio’s population continues to grow. Between 2010 and 2015, the Alamo City’s population grew 6.6 percent, according to San Antonio Economic Development Foundation. The local population is expected to grow 6.34 percent through 2020.

“I think there is some concern on the part of buyers that home prices are going up, and that they need to get into the market now and not postpone,” Gaines said.

In June, the median price reached $200,900, a slight decrease from the record-breaking figure of $202,500 reached in May. A low supply of homes coupled with high demand — the pattern in San Antonio since late 2013 — continues to raise prices.

More June housing stats? See SABOR’s June market report.