The San Antonio metro housing market continues strong, but there are concerns that rising home prices are endangering one of the strengths of this region's economic prosperity...the fact that housing in metro San Antonio is more affordable than in almost every desirable metropolitan area in the country.
The average price of a home sold in the metro last month was $211,200, up an amazing 10% over March of 2013. Even the median price, the point where half of the homes sold are more expensive and half are less expensive is also rising, to $172,000.
Missy Stagers, who heads the San Antonio Board of Realtors, says home prices are still affordable.
"Our strongest price range has always been homes priced under $200,000," Stagers said. "In March we had 61 percent of homes in this range."
She cites a recent CNN Money ranking of San Antonio as number five on its list of the 10 fastest growing metro areas in the USA. Kendall County was one of the five fastest growing counties in America in the past year, according to the Census Bureau.
Another sign of a red hot housing market--the inventory of homes on the market for sale in San Antonio stands at 4.3 months. An 'average' inventory is 6 months.