The real estate sector in San Antonio continues to grow in 2019. After several years of stagnation and modest growth in inventory, 2018 marked a significant change as more houses were listed for sale and the demand picked up substantially. This led to quicker liquidation of properties. Although the inventory increased and led to a surplus supply, increasing and sustained demand ensured the average wait time on the market was much less than the usual ninety days. The construction industry had been badly hit by the last recession and it took a long time to recover and the housing market in particular seems to be upbeat with home prices appreciating and a fine balance between supply and demand.
Evan Roberts of Dependable Homebuyers explains the reasons for the growth sustained through 2018 and now in 2019. Young people are buying houses, both new and pre-owned, despite increasing prices. Many investors have acquired rental properties for cash flow. Other investors have zeroed in on vacation rentals. Many professionals have been flipping houses in San Antonio in the aftermath of the recession. Roberts and his team at the We Buy Houses company has also played a key role in the recovery of the housing market. The real estate investment firm has purchased houses directly from owners, renovated them and made the properties appealing to buyers. This was essential given the shortfall of new home construction.
Roberts raises a concern amidst the positive signs being noted in the real estate sector. He firmly believes that new home construction must pick up for the growth to be sustainable in the medium term. While sellers are benefitting from the appreciating prices and buyers are yet to encounter an affordability crisis, the scenario can easily change if there is a shortage of inventory or the household debt to income ratio increases substantially. Constantly escalating prices of houses will not augur well for the industry. New homes have to be available to maintain a steady supply. If the inventory shrinks or there is an unreasonable hike in the prices of homes then buyers will reconsider their options. First time buyers may choose to rent instead. The interest rate hikes by the fed have not been a dampener yet but that will become an issue with further increases in home prices in San Antonio and the surrounding areas.Interested homeowners can read a recent press release they published at https://drive.google.com/a/dependablehomebuyers.com/file/d/1gzyD9ryvm25uINBNJ8sndT3UyuoiAWON/preview.
Dependable Homebuyers is assisting sellers and buyers. The company has a treasure-trove of information and resources for anyone dealing in real estate. Roberts says that the growth in the housing market is sustainable for the rest of the year. 2020 could be a different story as there is a fear of another recession. The anticipated recession will not lead to a collapse of the housing market or financial institutions, like what happened a decade ago. However, there will be a direct impact on real estate. New home construction is the only way forward to maintain inventory and to keep a check on increasing home prices. For more details, contact Dependable Homebuyers directly.
SOURCE: Press Advantage [Link]
Dependable Homebuyers is a local home buying company in San Antonio. We buy houses in any condition and any situation. If you want to sell your house fast, give us a call at (210) 944-4115 and we’ll provide you a cash offer within 24 hours.
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