San Antonio has been experiencing noticeable  rises in market conditions for the last four months straight and positive changes in buyer hesitation.  Three noticeable factors in this rise is the buyer tax credit, historic lows in mortgage rates, and affordability of homes being at record lows as well.

     Yet with all this progress, San Antonio saw a drop of 2.7% in existing home sales.  DON'T PANIC just yet however.  Looking at the big picture, there is still an upward trend compared to last year by 3.4%  In addition, the volume of existing homes has now dropped to 8.5 months.  These are facts that should not be easily forgotten. 

    Yes the market did take a bit of a hit, but lets not loose sight of the accomplishments made this year. 

1. A rise in home sales for four straight months!

This is an accomplishment that has not been seen for quite some time.

2. Mortgage loan applications rose 5.6% just last week alone

As I said earlier, if you look at the big picture for the year 2009 compared to the past 2-3 years, there have been significant improvements in San Antonio's market.  There is clearly much more work to be done, but at least we started moving in the right direction.  This small setback only reminds us of the time we are in right now and the work and decision making abilities needed to take us out of it. 

Keep an eye out for thursday as the news on pending home sales will be out.

I'm also curious to see what are any other thoughts or observations on market conditions that you have observed as well.