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New homes sign of better times in San AntonioNew homes sign of better times in San Antoniohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=75062013-04-30T08:18:00Z2013-04-30T00:00:00Z

SAN ANTONIO - Home building in San Antonio continues to surge, with the sector posting an increase in home starts for the seventh consecutive quarter, according to data from Metrostudy.

The builders are on track to build 8,478 homes this year. That figure would come close to meeting an estimate that developers would start more than 9,000 homes in 2013, an 11 percent jump compared with last year.

The current housing inventory is about 4,300, or 4,000 excluding model homes. In that figure 2,500 houses are under construction and 1,500 are finished and vacant.

Lot supply is tight but it's growing. There is less than a 20-month supply of lots which is considered a shortage. Prices for residential lots in desirable areas continue to increase.

San Antonio New Home Market
  1Q 2013 1Q 2012 Change
Home starts 2,042 1,643 24.3%
Closings 1,869 1,497 24.8%


Read more at the San Antonio Express-News.

San Antonio Express-News
San Antonio-New Braunfels
Housing
http://www.mysanantonio.com/business/article/sign-of-better-times-more-new-homes-4464727.phpRead more at {Source}

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