High demand, low mortgage rates in San Antonio housing market forecast
Despite a health crisis and recession, the San Antonio housing market saw record sales last year, a trend economists say they expect to continue into the new year. The San Antonio Board of Realtors held its annual Housing Forecast Thursday, and due to the pandemic, it was all virtual. The major driving force behind soaring sales, he said, has been and will continue to be record low mortgage rates. They are in the housing market now.”As for where people are moving, look to the suburbs. RELATED: Housing market on the rise in San Antonio
San Antonio Board of Realtors says housing market is stronger than it seems
SAN ANTONIO The San Antonio Board of Realtors say the housing situation is better than it may have seemed following a 60 Minutes news story about the city. On Sunday, 60 Minutes aired a story about San Antonio businesses road to recovery amid the coronavirus pandemic. Among the people featured in the story includes a former San Antonio realtor of the year, Jackie Galvan. Virtual open houses, tours keep housing market goingDespite that, board chairwoman Kimberly Bragman said the housing market is doing relatively well. April was a little tough as well but were really seeing stuff to pick up, especially since interest rates are so low.
February pending home sales jump over 9% annually, ahead of major coronavirus impact
Pending home sales, which measure signed contracts on existing homes, rose a stronger-than-expected 2.4% in February compared with January. "February's pending sales figures show the housing market had been very healthy prior to the coronavirus-induced shutdown," said Lawrence Yun, the Realtors' chief economist. Given that the pending sales numbers are based on signed contracts, it is possible some buyers may pull out of their deals, worried about their personal finances. In the West, where home prices are highest, sales grew 4.6% for the month and jumped 10.8% from a year ago. The spring housing market was set up to be one of the best since the last recession.cnbc.com