I just read THIS ARTICLE and wanted to share what I found for anyone interested in the San Antonio market. It highlights a few points I've made in a previous post on this forum. Here's a few things I took away from it:
1. Redfin reported an estimated rise in total home sales of 10% in 2021; a 5% increase over 2020.
2. Mortgage rates at historical lows are helping propel the market forward.
3. Redfin also forecasts that there will be the most new homes built in a year since 2006.
4. New home builders and homeowners will look to take advantage of suburbanization capitalizing on lower financing costs to develop, cheaper land costs, and of course low mortgage rates.
5. The first city this article mentions after briefly discussing a massive migration is SAN ANTONIO, my home town!!
In a recent post, I highlighted a few things I thought 2021 would bring San Antonio which mirror a lot of what this article said. We've got a great opportunity to capitalize on more people coming here, businesses moving here, lower priced options vs neighboring metros, stable and growing appreciation, a supply/demand imbalance in favor of the investor, current mortgage rates, and a plethora of other elements that make this one of the best Real Estate markets in the country. See that post HERE.
I'm always wanting to connect with other REI pros in the area and I'd like to know what others are seeing in this market. Share your targets for the year, areas you might like more than others, maybe some recent success you've had, etc! What are some new developments you're seeing in the city that could bring some value to the investment community?
Glad to see someone other than that Austin guy trying to post about Austin in order to get his name out there. :-)