July home sales, prices heat up

Median price on rise at $164,200

SAN ANTONIO - Summertime home sales heated up with July numbers showing a sizzling month.

In July, 1,904 existing homes found a buyer, for a 13 percent increase over July 2011, according to numbers from San Antonio Board of Realtors.

"I think we're seeing the confidence back in the consumer now," said SABOR CEO Angela Shields. "There's a lot of good deals out there today."

Who's buying?  

Houses are moving because people are moving to San Antonio for jobs. Bargain basement interest rates are a lure, too.

"You're seeing some first-time home buyers getting into the market," Shields said. "You're also seeing people taking advantage of the fact they can buy up."

Homes prices less than $200,000 are the hottest sellers, making up about 65 percent of the July sales.

Prices are moving on up, too.

The median price of homes sold in July was $164,200, compared to $157,000 the same time last year.

So far this year, sales are outpacing 2011. If the trend continues, the city is on track to have the strongest year since before the Recession.

For a list of recent stories Marilyn Moritz has done, click here.


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