San Antonio, Central TX: San Antonio Market Gets Back in Track!!!

I am so pleased to report to you all with news that is sure to bring a smile to your face....last week came to a close bearing great news from, the month of September. Existing home sales climbed 9.4% alone during September making a 5.57 million annual rate; a figure almost double to what the consensus had predicted. This brings relieving news after August slight drop after hitting a speed bump in progress. Possibly even better is the news that the inventory is down to 7.8 months, making it several steps closer to the desired 6 month housing market.

Just some quick points of interest

• Single family beginings rose 3.9%; with a 40.3% gain overall since time period of January to Febuary.
• Mortgage rates edged just past 5% landing at 5.07% for 30 year fixed loans.

Next week brings some key points of interest as we look for answers in GDP, inflation, and housing. Toward the ending of next week we should know the stats on the Q3 report which should indicate the expansion in the markets for this year.

Lets keep our fingers crossed for good news. Thank you to all and have a blessed week.