The tremendous growth that has made San Antonio one of the most dynamic and popular cities in the nation is by no means over. The city is continuing to expand with new economic prowess and lifestyle opportunities, attracting both new real estate buyers and companies. The latest news about the city shows that San Antonio's construction sector is up 10 percent—a key indicator of growth and great news for those buying a home in San Antonio.
San Antonio was No. 38 out of 358 metros, according to the November 2015 employment report by Arlington, Va.-based Associated General Contractors of America, said the San Antonio Business Journal. The local construction industry added “4,800 jobs over the past 12 months — going from 46,900 employees as of November 2014, to 51,700 jobs a year later. That equates to a year-over-year increase of 10 percent.”
San Antonio’s construction growth far exceeded any other city in Texas in the past year; Austin-Round Rock was the closest at No. 92. Houston-The Woodlands-Sugar Land and Dallas-Plano-Irving tied at No. 150 and Fort Worth-Arlington was No. 322.
Microcosm of the overall market
In the past year, San Antonio has been called one of the best places to get a job, noted for having one of the lowest unemployment rates in the nation, named a Best Buy city, and, most recently, acclaimed as one of ULI and Fortune’s Best Real Estate Markets for 2016.
“Trulia Housing Economist Ralph McLaughlin cast a wider net when deciding which home markets interested him most,” said Fortune. Metrics included: strong job growth over the past year, low vacancy rates, high affordability, and more inbound home searches than outbound. Homes sold, new-home closings, and the average value of new home all rose in the past year.
ULI called out the San Antonio housing market for its “great investment opportunities,” which gives people who are buying a home in San Antonio for the strong job market, vast lifestyle opportunities, and affordable price points another strong motivator.
San Antonio’s population growth rate is among the strongest in the country and is projected to increase by more than 1 million people by 2040. It’s also increasingly concentrated in and around the Southside, where exciting redevelopment projects like Brooks City Base and masteplans like Mission del Lago are garnering attention. Mission del Lago is a popular South San Antonio masterplan offering new homes from D.R. Horton and Lennar Homes with modern floorplans, desirable features, great amenities including an 18-hole golf course, and a location that’s serene and private yet convenient to downtown and all the best of San Antonio. Prices are from the $150s.
For more information about living in the fastest-growing neighborhood in South San Antonio, visit Mission del Lago or download our Guide to Buying a New Home in Southside San Antonio.