Home Buying MythsAlthough the internet can be a great resource for a variety of information, a lot of that information is incorrect. One of the most important and expensive decisions in your life,
San Antonio Housing 2017 And Beyond
As we move into 2017, I thought it would be a good time to research factors and trends that will have an impact on housing this year…and beyond.
First of all, we will be seeing moderately rising interest rates. The key word is RISING…You are better off buying sooner rather than later and locking in that lower rate.
Experts see a low risk of a housing crash for most major cities…Certainly not in San Antonio with a tight market, lower home prices than other major cities in Texas and continuing population growth.
Millennials are coming into their main home buying years. Something can be said about the fact that they are carrying large amounts of student debt, have little in savings and prefer spending money on just living rather than housing, but the fact of the matter is that over 33% of this demographic will be buying homes this year.
There will be a trend toward government deregulation, repatriating jobs from overseas and “draining the swamp”…all trends that bode well for housing.
This, the longest positive business cycle in history, is expected to continue through 2020. We are flirting with Dow 20,000, after all.
My “boots on the ground” outlook for San Antonio is a slight moderation of housing price increases, a continued tight housing market, buyers showing a strong preference for “move-in ready” homes with updated styling and buyers placing a premium on location that will minimize their commuting time/distance.