Strong Oct for S.A. Housing Mkt, What Lies Ahead?

Another strong month in October for the San Antonio housing market–as the winds of change begin to blow in Washington D.C.

“About where we’ve been for the year–with some modest increases in value. The average price has gone up about 5% (compared to October of 2015)” San Antonio Board of Realtors Chair Bob Jacobs told KTSA News, pointing to a report that also shows modest increases year over year in both average and median home prices.

“The big thing is we’re seeing new listings coming on to the market–and, the time on the market is staying at what it had been for most of the year” Jacobs said.

With a change coming from the Obama tot he Trump Administration–could we see some of the steam leave the local housing market? Jacobs said there are a lot of unknowns when it comes to answering that question.

“Election years… when we’ve seen the biggest effect in the past has always been prior to the Election–and, we’ve had the Election now” Jacobs said, adding “Given the state of the money markets for mortgages, I would really hope for everything to be nice and stable… the way it has been.”

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