Out of state real estate investors recently bought up several multifamily complexes that are worth more than $150 million. This was one small part of a large surge in real estate investing in San Antonio.
Sherman Residential was the company that bought the 385 unit Pecos Flats apartment complex on the west side in early May. Sherman decided to come back to the San Antonio market after it left during the down turn in 2007.
Sherman noted that it always like San Antonio for high ROI investment opportunities, but it believes San Antonio is an even better investment today. It stated that San Antonio now has a more diverse employment base and strong population and job growth.
Investment brokers in San Antonio agree; some say that its strong population and employment growth in a range of industries are attracting many more real estate investors.
Many real estate investors are choosing large markets with strong employment growth and relatively low cost of living because they are thought to be more steady and less subject to a boom/bust cycle.
Brokers say that San Antonio is viewed in many quarters as recession proof, and with plenty of economic diversity, this area is a good bet in both bull and bear real estate markets.
San Antonio’s real estate market has experienced strong growth for the last five years, but there are signs that it may be cooling a bit. This can be a good opportunity for under market value real estate investors to pick up deals.
In April 2017, 2427 homes were sold in the San Antonio metro area. This was a decline of 2.2% from a year ago. That was only the third month since early 2011 that sales went down. As of May 2017, 8592 homes were sold in the city, with 8408 sold at this time last year.
The median home price went up by 8.4% in 2017 to $215,000.
Overall, the San Antonio market is a great bet for under market value investors seeking high ROI investment opportunities in 2017. A strong but not explosive real estate market will lead to plenty of good opportunities for investors who know where to look,