The Rebirth of the San Antonio Real Estate MarketTopic: Home selling
We all know that the real estate industry as a whole was a disaster in 2009; however, what appears to be changing is the rate at which certain cities rebound.
Many major metropolitan areas throughout the country are still struggling to crawl out from the wreckage of the 2009 real estate year. What seems to be setting many cities apart is how fast they are bouncing back.
San Antonio: Showing Signs of Life
A good example of a city on a mission is San Antonio. Although this major city felt the blow of the real estate market last year, it was also one of the few to begin showing signs of life this year.
In fact, San Antonio was recently ranked number seven on Forbes Magazine list of "Cities Where the Recession is Easing." San Antonio, which is the seventh-largest city in the country, and the fastest growing city in Texas, is poised for a positive year.
Fueling the Rebirth of San Antonio
The strong economy of San Antonio and the projected job growth is expected to fuel the rebound of the San Antonio real estate market. Both of these factors have also made this large city fairly immune to the most negative aspects of the recession; these factors have also meant that San Antonio and San Antonio real estate will bounce back much sooner than other major, metropolitan areas of the country.
The Strength of the Military Installations
Much of the strength of San Antonio and the San Antonio real estate market has to do with the military installations rooted here. In fact, many industry analysts agree that the military installations of San Antonio are what have kept this region's unemployment rate at about seven percent.
New Home Sales on the Rebound
Many real estate experts have also seen an increased market share for new homes in San Antonio. The economy and the strong San Antonio real estate market have both increased competition among local builders.
A plethora of San Antonio builders are offering attractive discounts and incentives for buyers to decrease their current inventories, so many buyers are now taking advantage of these incentives and purchasing San Antonio real estate this year.
New Homebuyer Incentives
Just some of the incentives for new home buyers include: lower interest rates and low closing costs. Competitive prices and an increased demand for new homes versus existing homes allow builders to negotiate better mortgage terms with lenders.
In fact, in the San Antonio real estate market, new homes are often a better deal than existing homes. Many home buyers, because they are in a position to purchase a new piece of San Antonio real estate, are now making the move to purchase, thereby spurring the San Antonio real estate market and allowing to quickly recover from the harsh real estate market of last year.
If San Antonio continues to show signs of strong growth in its real estate sector, then it is no doubt poised for a very positive year.
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