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LOCAL COMMUNITY

There are approximately 881,099 households
in the region which is up 2.0% year-over-year.
Trends show that household formation is
expected to increase by an annual growth rate
of 2.2% for 2017. Median household income in the
area increased 1.8% from the previous year to
$55,861. Incomes are forecasted to increase 1.8%
for the year in 2017.

The San Antonio-New Braunfels area
ranked No. 13 in Millennial growth out of
the largest US metro areas, increasing in
LOCAL HOME SUPPLY this demographic by about 5.4% percent in
urban areas and about 14.4% in suburban
areas from 2010-2015

The section of Interstate Highway 35
from Austin to San Antonio gained about
100,000 residents since 2010, making it one
of the fastest growing places in the United
States.

In the San Antonio-New Braunfels, TX region, total permit issuance increased 20.6% to 2,973 units.
residential building permit activity increased 13.3% The San Antonio-New Braunfels area was ranked
year-over-year to an annualized rate of 9,902 the 9th hottest new housing construction market
units in March. In the twelve month period ending in the United States. Its top 10 builders raked in
in March, single-family building permit issuance a 65.1% market share of the metro area’s home
increased 10.5% to 6,929 units while multi-family construction.

LOCAL HOME SALES

New home closings in the San Antonio-New Braunfels, TX metropolitan
area experienced a 7.9% year-over-year decrease to an annualized
rate of 8,825 units in May. Existing home closings for the same period
posted a year-over-year loss of 5.4% to an annualized rate of 35,347
units. Of those home closings over the past 12 months, 1,637 were
attached and 33,710 were detached.

San Antonio homes priced below the $200,000
mark accounted for about 41.1% of home sales San Antonio pending sales increased by about
in June, while homes priced at $500,000 or more 2% in June to about 2,512 sales, when compared
accounted for about 6% of June sales. Homes to last year. An increase in pending sales may
between those price points made up about mean San Antonio’s low housing supply likely
52.9% of home sales that month. won’t get relief anytime soon.
ZONDA BY MYERS RESEARCH JULY 2017
AUGUST 2017 | GREATER SAN ANTONIO BUILDERS ASSOCIATION 15