SABOR’s Housing Forecast was January 8th this year and it was one for the books. There was a waiting list for tickets (make sure to get yours early next year!), Dr. Mark Dotzour of the Real Estate Center at Texas A&M announced his retirement, Chairman Mary Ann Jeffers provided a comprehensive look at San Antonio’s 2014 market, and the whole event was live tweeted. If you want to go check out the tweets go to Twitter.com and follow @SABoardRealtors or search #2015HF.
The event started off with an amazing breakfast and a special welcome video message from Mayor Ivy Taylor. Shortly after, a panel of experts, moderated by Executive Committee member Yvette Allen, discussed their respective fields and took questions from the audience. This year the panel included Susie Wallis of KW Commercial, Kris Hochart of Red Wagon Realty, John Dickson of Denim Group, Ltd., Andi Rodriguez of the San Antonio Independent School District and Bobby Crisp of Crisp Appraisal Service. Their expertise covered commercial real estate, property management, military, downtown San Antonio and appraisals, respectively.
Now on to some of the numbers and statistics from this year’s Housing Forecast. According to guest speaker Mario Hernandez, President of the Economic Development Foundation, the population of San Antonio increased 2.04 percent from the previous year. That is a phenomenal increase for just one calendar year but the good news is that means more home buyers. Hernandez also revealed a 2.62 percent increase in job growth over the last year and a drop in the unemployment rate from 6.5 in 2012 to 4.3 currently. Hernandez also shared that San Antonio is the seventh largest city in the United States and our cost of living is 9.2 percentage points below the national average.
Chairman Jeffers provided a look at the year in San Antonio. As of the end of November, a total of 22,655 homes have been sold in the city. That’s a four percent increase from the previous year. Days on market dropped to just 68 days, which is down seven days from 2013. Jeffers also took a look at which areas saw the most growth in 2014 and provided a breakdown of each subdivision’s sales and pricing for the year.
Dr. Dotzour made a lasting impression as always with his humor and expertise. Some of the information he presented included 6.5 months of inventory being the national average. San Antonio is currently below that number. Dr. Dotzour’s suggestion was the need to build more homes. If home prices are going up and there is more housing inventory then the market is good. Dr. Dotzour also reminded everyone to make sure and vote. Change starts from the bottom, so if you want something done you have to speak up.
There were door prizes, numerous statistics and a truly great group of panelists and speakers this year. Chairman Mary Ann Jeffers is starting off 2015 with SABOR’s strongest foot forward. For more information on SABOR’s 2015 Housing Forecast, follow us on Twitter or like us on Facebook.