Monday, July 7, 2014

7 July 2014 San Antonio Realty Related News You Can Use

These nifty San Antonio realty related news nuggets are compliments of Steven Gragg, Realtor® and Broker at Keller Williams Legacy, San Antonio.
  1. Jobless claims are down slightly.  
  2. The composite index of leading indicators  increased slightly last month for the 4th month in a row, indicating the national economy will continue to improve in the months to come.
  3. Mortgage rates have eased down slightly.
  4. Nearly 2 million people in the world became millionaires last year - a 15% increase year-over-year.  San Antonio has more than its share of millionaires plus 6 known billionaires.
  5. Baby Boomers are liking big houses again.  A recent study shows boomers not only are not downsizing, they want homes as big as when they were raising children.  The average sized new home in 1960’s was 1500 sq.ft., by 2004 was 2100 sq.ft. and grew to 2600 sq.ft. in 2013.
  6. The new HEB Market has opened in Stone Oak at Hardy Oak and Wilderness Oak.
  7. San Antonio Board of Realtors® (SABOR) May Stats: 
  • San Antonio's average single family residential sales price reached a record in May at $225,114.
  • Days-on-the market from listing to contract was down to 65.
  • There's a 4.7 months inventory of homes for sale.
  • Compared to May 2013, home sales decreased 6%.  That's the first decrease in 2 years.
  • Average apartment rents were up 4.1% in May to an average of $830.  Occupancy remained       steady at 91.4%.
     8.  San Antonio area foreclosures are at the lowest in 12 years.  In July, there were only 469 foreclosure
          postings.  The year-to-date foreclosure trend is steadily downward from 8398 in 2012, to 5305 in
          2013,  to 3744 in 2014. 

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