June 2013 San Antonio AFB Area Homes For Sale Report

Early June heralds the advent of hot and dry summer weather for all of the San Antonio air force bases, especially Lackland AFB which tends to one of the hottest  areas around town.

San Antonio and all of south Texas has already been exceptionally warm and arid for many months, but, in late May and early June, most of the region was blessed with heavy refreshing rainstorms.  Nonetheless, the weatherman sees typically hot and dry summer conditions ahead.

Do the home sales markets  in communities around Lackland AFB, Randolph AFB, and Ft. Sam Houston mirrow the weather?   Yes, absolutely  — they are  HOT and will likely stay so through the summer PCS season and into the coming fall.

Why is Military City USA’s realty market so hot this year?

1.  Across the nation, home contracts have increased to a 3 year high. The trend is reflected in San Antonio where, this May, home sales were up 21% over May 2012.

2.  Although mortgage rates are gradually edging up, the increase is marginal and rates are still favorable for home buying.  Because of the influx of new residents, and particularly the growth of the local active and retired military communities, it’s unlikely that anything other than a very large increase in mortgage rates will cool San Antonio’s hot residential market.

3.  Foreclosures are way down locally and across the nation and, because of San Antonio’s large average home sales price increase in the last 18 months, fewer military home owners now owe more on their mortgages than their homes are worth.

4.  Oil and gas production in south Texas’ vast Eagle Ford shale oil field, is up 77% over last year – topping 500,000 barrels of crude per day. The area’s booming oil industry is bringing many new businesses and residents to San Antonio, especially into the new home and resale home communities near Randolph AFB and Lackland AFB.   Consequently, AF home sellers should expect good prospects for selling their homes and AF home buyers should be ready for hard negotiations if they want to buy close to one of the area military bases.

5.   Compared to May 2012, the following key residential realty market indicators are all exceptionally positive for San Antonio and the communities nearest the city’s military bases:

pending home sales are up 17%,

list prices are up 10%,

latest closed sale prices are up 21%, and

the median sales price for the most recently closed home sales is up 11%.

The bottom line is this – because of its solid economic and demographic foundations, San Antonio is one of the nation’s bright spots for home ownership and rental investments.

That’s  it for our June 2013 San Antonio AFB Area Homes For Sale Report.  We encourage reader comments and recommendations about how to make our reports more informative and useful.

We’re Stephanie and Randy Kelley, Realtors® at Keller Williams Legacy, San Antonio, Texas.  We specialize in representing active and retired military home buyers and sellers.  If you have questions, need San Antonio realty or mortgage loan advice or assistance, or just want to chat a bit about our wonderful Alamo City, please call us at (210) 863-2661 or (210) 867-8743. Our SanAntonioHomeQuest.com Realty Solutions Team is always ready to help you with your home buying or selling needs.

Comments

  1. Jennifer / I’ll try to be short, I am 34 years old, and I turn 35 in November. I recently lnreaed that the age limit was changed to 35 awhile back but I was just unaware. I put off enlisting until my husband PCS’ed. Now we are at his new duty station and I would love nothing more then to join active duty. So my question is will I still have time to join, will I be able to get everything done in time to possiblly head to basic before my 35th birthday? I qualify on all other levels, as far as my weight, being active, I’m ready to take the ASVAB, and medically there is no reason I can not join. Any advice you can give me would be greatly appreciated! Thank you

  2. Which came first, the problem or the solution? Luckily it doesn’t matter.

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