The San Antonio real estate market continues to show impressive gains, with the third quarter 2014 new-home starts at their highest level since 2007, according to MetroStudy-San Antonio. The real estate research and analysis company also noted that new home closings for the same period hit their best numbers since 2008.
“New home inventory overall is still relatively healthy, home prices are increasing and housing values are improving,” they said. “In addition, new lot delivery has finally caught up with demand thereby beginning to fill a void that has impacted production over the last couple of years.”
Data reported by MetroStudy included:
• 2,693 single-family starts in the third quarter, a 17.1% increase over the same period last year
• The current annual starts rate has risen 4.5 percent year over year
• Third quarter closings were up 8.2 percent in 2014
• Annual closings were up 3.9 percent
Also noted is the increase in developed lot inventory, which has helped to “provide some relief to high demand areas that saw their lot supplies diminish over the last three years,” they said.
This has been critical on the SouthSide, where Mission del Lago has helped fill a void for new homebuyers in an area that was once critically underserved. Mission del Lago, the SouthSide’s favorite master-planned community, has connected with key demographics including those who grew up locally and are excited to raise their families in this revitalized area of the city, and those who have discovered South San Antonio through employment at Eagle Ford Shale and the San Antonio Toyota Plant.
Mission del Lago is an 800-acre masterplan offering quiet yet friendly neighborhoods, an 18-hole golf course, a convenient location close to shopping, dining, and recreation, and an array of homes from the $150s from two of the nation’s most respected builders, Lennar and D.R. Horton. For more information on the fastest-growing neighborhood in South San Antonio, click below to view available move-in ready homes.