Despite a continued foreclosure problem, the overall housing market picture in Bexar County, and San Antonio in particular, is showing tangible signs of improvement, with housing prices for resales likely to gain by four to four-and-a-half percent over the next twelve months. As the unemployment rate subsides, qualified buyers will assuredly be attracted to the new “affordability” of San Antonio home values.
Affordability, of course, is the crucial factor in determining the attraction to buyers. And, make no mistake, buyers are being attracted. A 2.4% vacancy rate, one of the lowest in the state is proof of the attraction San Antonio property holds for newcomers. Currently –and always subject to variation – there are approximately more than 12,000 homes on the market in San Antonio at a median price of $149,950, up 0.3% from last month, (February.) Texas mortgage rates as of this writing, and continuously fluctuating are:
- 15 year fixed 4.525% - up 0.006% from the previous week at 4.518%
- 30 year fixed 5.070% - down 0.043% from the previous week at 5.113%
- 1 year ARM 3.280% - up 0.062% from the previous week at 3.218%
- 3/1 year ARM 3.415% - up 0.049% from the previous week at 3.266%
- 5/1 year ARM 3.451% - up 0.020% from the previous week at 3.431%