Home prices, sales rising…
Home sales has risen 6.1 percent, according to the San Antonio Board of Realtors,
which released its March home sales data last week.
“If a good property comes on the market, you’ve got to rush to get your clients over there to take a look. Right now, it’s a buyer’s market, but it’s slowly turning to a seller’s market.”
David Marne, owner of Half Priced Real Estate, said “it’s starting to feel better. It feels like it’s getting hot.”
San Antonio has about seven months of inventory on the market. Six months is considered balanced between buyers and sellers, with buyers having the advantage for when inventory rises higher than 6.5 months.
The number of pending sales at the end of March was up 20 percent over March 2011, according to SABOR. Liza Reyes, president of SABOR, said low mortgage interest rates have encouraged people to start house hunting. “Interest rates are so low. I think people are getting off the fence and making a decision to move forward,” Reyes said.