San Antonio Housing Market Report 3/30/2009
As you can see and you've probably heard from real estate agents in our area, it looks like we've been out housebuying recently. Over the last 30 days we've been seeing a slow decline in the numbers of listing on the market (current inventory). Agents across San Antonio have been reporting increased activity as the weather has turned to bright blue skies and the rain we received has been doing its magic.
Median prices have been flat as of late (first chart is 30 day time span) although over the full year, (second chart) you can see that the prices have been on a slow and steady rise. Current market indicators see the prices trending downward, but because of overall inventory levels, these prices can fluctuate quickly.
The Median Market Action Index (below) is a graphical representation of the balance between current inventory versus current rate of sale. It compares the houses being listed and the house being sold in other words. When the value of the Market Action Index moves above 30, the market is considered to be "hot" (or a seller's market), while anything below thirty is "cold" (or a buyer's market). As you can see from that chart, we started upwards a bit early in the month of March, but our recent trend has been downwards. We still have a long way to climb to make this a seller's market, but buyer's in San Antonio are definitely enjoying a market primed for their purchases.
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Please note, all data in the charts is in real time, so if you view this a month after it was written, the charts will have changed and the analysis might not make sense anymore. That's a great reason to sign up for the market reports.
