Randolph, Fort Sam and Lackland Housing Real Estate News
posted Sep 11, 2013
Whether you already live in off-base Randolph, Fort Sam or Lackland housing or you’re moving to the area soon, it’s important to know the local real estate market. To help, we’ve compiled the month’s biggest and most important real estate news items. Check them out below.
The San Antonio Housing Authority has been awarded $7.8 million from the U.S. Department of Housing and Urban Development’s Capital Fund Program. This program offers U.S. communities funding to build, repair and renovate local public housing. Altogether, the state of Texas was awarded $71.4 million from the Capital Fund in 2013.
Schertz Gets New Master-Planned Community
Schertz will soon be home to The Crossvine, a new master-planned community on the south side of town. The Crossvine will encompass 504 acres and feature a variety of housing options, including single-family homes, multifamily developments and townhomes/condos. The first phase of the community’s development will include the building of several single-family homes by David Weekley and Ryland Homes.
Local Housing Market Still on the Rise
During the second quarter of 2013, the San Antonio area saw 6,880 home sales—up more than 19% from the same quarter last year. Altogether, over 11,000 homes have been purchased in the San Antonio area this year. Local housing prices are on the rise as well. The current median home price is $173,100, a 6.3% jump from 2012 prices.
Housing Market Needs More Finished Lots to Grow
According to Metrostudy, a research firm, new home starts in the San Antonio area are down 1.7% in the second quarter when compared to 2012. The downturn is likely because there are not enough finished lots to match buyer demand. According to Jack Inselmann, a senior vice president at Metrostudy, “New-home demand remains strong, but a lack of lot supply in the highly desirable areas slowed production in the second quarter.”
On the hunt for off-base Randolph, Fort Sam or Lackland housing? Housing 1 Source can help. Browse our online listings or contact one of our relocation specialists, licensed realtors, today at 1-877-832-8518!