SAN ANTONIO – The local housing market continued its hot streak in August as prices rose and supply shrank, according to the San Antonio Board of Realtors.
Area buyers closed on 3,693 homes last month, a 7 percent increase from the year prior.
The median price jumped 9.4 percent year over year to $259,000.
Listings fell 30 percent. Inventory also fell to a mere 2.4 months. The Real Estate Center considers six to 6.5 months of inventory a balanced market.
Although home sales plunged in April and May, pent-up demand, loosened restrictions, and low interest rates caused activity to pick up again in June.