Should you buy a home in San Antonio now or wait a while? If you know the market, you know it’s a great time to buy. Need more inspiration? Here are 6 reasons to get a move on.
Rates are near historic lows
Interest rates are near historic lows. No one knows how long they’ll stay at this level, but real estate experts have been encouraging buyers to pounce before they go up. Taking advantage of current low rates means more buying power and more affordable payments for those looking to buy a new home in San Antonio.
The spring frenzy is over
You might have noticed an increase in homes for sale or people moving during the spring and summer months. It’s no surprise people look to make this important change when their kids are out of school. But now that school has resumed, the frenzy can subside, and a more “normal” market can prevail. That means you can take your time and find the perfect home for you instead of feeling pressured to buy something because you’re afraid someone else will snap it up. The hottest areas in San Antonio real estate will still be competitive, but real estate sales typically slow down closer to the holidays, which could mean a great deal for you is on the way.
It’s the best place to do…everything
The city is on practically every “best-of” list there is, from FORTUNE’s No. 5 “Hottest Real Estate Market of 2016” to Forbes’ “Best Buy City,” to Zillow naming San Antonio to the top of its “Sweet Spot” list. Zillow based its designation on “the market's strong income growth, growing job market and the ability to break even on a home purchase in just over a year,” said Builder magazine. Huffington Post even called San Antonio the new Austin earlier this year, saying it’s “a sophisticated venue” and noting the “many large IT companies (that) have chosen San Antonio over Austin, for less traffic, more space, less high prices, and more working force.”
Prices are rising
No wonder home sales keep growing alongside home values. According to data from the Texas Association of Realtors, the San Antonio-New Braunfels Metropolitan Statistical Area (MSA) showed impressive gains in its Texas real estate market in the second quarter, with median home prices up 5.1 percent to $205,000 over the second quarter of 2015.
Prices at San Antonio masterplan Mission del Lago have gone up $20,000 in the last year with projections for future increases because of the exploding popularity of both this community of new homes in San Antonio and the impressive growth on the Southside in general that has made the area the hottest part of the city. Prices at Mission del Lago still remain among the most affordable new homes in San Antonio, and the location, with large employers like the San Antonio Toyota Plant, unexpectedly fast growth at the new Texas A&M University campus, and the popularity of Mission Reach, is becoming the place everyone wants to be.
To be where the jobs are
The “average U.S. employment growth is 2% and average U.S. income growth is 2.3%;” according to Construction Dive. Compare that to San Antonio’s job growth at 2.8% and its income growth of 4.1% and it’s clear why everyone is so impressed with San Antonio’s job market.
Employment growth in San Antonio over the past several years has been widespread. Of particular note is the tech industry; biotech and IT services were two of the thriving industries Business.com mentioned when they named San Antonio one of the hottest cities to find a job. Forbes also ranked San Antonio highly on their list of Best Places for Business and Careers, saying, “The San Antonio area has projected annual job growth of 2.7 percent, 26.7 percent college attainment and 1.5 percent high-tech employment.”
A variety of homes to meet your needs
San Antonio masterplans represent one of the most popular choices for today’s homebuyers, who love having several floorplans from which to choose, as well as resort amenities and a convenient location.
You could be home by the New Year
Even if you have a long escrow, you could be moved in to your new home before family comes to celebrate the holidays with you. But take advantage of move-in ready homes in San Antonio’s new-home communities and you can enjoy them just as quickly. Quick Move homes allow you to enjoy a finished, brand-new home with all of the most-wanted features and finishes, without the wait of construction.
For more reasons to live in San Antonio and more information about buying a new home on the Southside, visit Mission del Lago, the fastest-growing community in its price range in the city. This 800-acre San Antonio golf course community offers homes from D.R Horton and Lennar and an array of resort amenities including the Mission del Lago Golf Course in a convenient and desirable South San Antonio location.
You can also click below to view move-in ready homes.