San Antonio, TX – January 18, 2010 - According to the December 2009 Multiple Listing Service report by the San Antonio Board of REALTORS® (SABOR), the number of single-family residential sales was up 5% for December at 1,349 compared to December one year ago. The total number of sales year-to-date was down three percent compared to year-to-date sales in 2008.

“I believe we finished the year quite well,” said Marietta Alba, the San Antonio Board of REALTORS® 2010 Chairman of the Board. “Growing consumer confidence helped the number of sales rise in the last quarter of 2009 compared to the first part of the year.” Prices remain relatively stable. Year-to-date numbers show a slight decrease in the average and median prices, two and one percent respectively. The month of December showed a two percent increase in average price and a four percent increase in median price.

“We’ve been saying all year that San Antonio is stable and affordable, and the end-of-year 2009 numbers are showing us that once again,” said Travis Kessler, CEO of the San Antonio Board of REALTORS®. “San Antonio proves to be an attractive place for growth, jobs, and the housing market, which is why we continue to be ranked as a city that is likely to bounce back quickly from this recession.”

The San Antonio Board of REALTORS® is the largest professional and trade organization in San Antonio and represents over 7,000 REALTOR® members. SABOR is one of over 1,600 local boards and 54 state and territory associations of REALTORS® nationwide that make up the National Association of REALTORS® (NAR). Please visit SABOR.com for more information.

San Antonio continues to have a stable employment record and defies what is reflected in the national numbers.  With all the new employment opportunities coming up in San Antonio, to include NSA's Satellite Center, Microsoft's Data Center; Rackspace and The TPC San Antonio Golf Resort, there are still high paying jobs on the horizon for us.  Toyota's Tundra Truck Plant is operational again after a 3 month closure to reduce inventories. Additionally commercial construction is steady highlighted by the expansion of the Brooke Army Medical Center at Fort Sam Houston which began in January 2008 on a $1.56 billion project and is expected to add approximately 10,000 jobs in 2011-2012.

Real Estate Market:

2009 began with inventory up 10% over last year. During the second quarter sales are very near last years numbers. Properties located on the north side of town, inside of Loop 410 and 1604 are still experiencing moderate demand. Outside of loop 1604 is a different story as unstable gas prices, traffic congestion and the prospect of new toll roads are prompting some to purchase older properties in central locations. These people are however trading the modern features of newer construction (and services) for the advantage of location and shorter commutes. Prices are mostly stable but the glut of inventory in the higher price tiers have made them a target for low ball offers and price reductions are the order of the day. The relocation of 700 of ATT's top executives to Dallas is adding to the already top heavy inventory in the above $400k sector. The actual number of families accepting the relocation to Dallas is closer to 450 as approximately 250 have elected to stay in the Alamo City. Interest rates are near historic lows which is currently spurring the sales!

My call for SA: The current opportunity for a buyer's market will continue through 2009. As the stimulus package takes effect confidence should be restored and improve the job market. Most people I talk to are looking for signs of recovery and will act when they see it begin. The jobs coming online at BAMC in 2011and 2012 will help to reduce the inventory to more manageable levels.

If your finances are in order and your employment is stable, then what are you waiting for? You could be kicking yourself for missing out on one of the best buyers markets in the USA in decades.