Existing home sales down 7 percent in San Antonio

San Antonio's real estate market may be down slightly from last year. However, the single-family home market remains resilient, according to statistics released by the San Antonio Board of Realtors (SABOR).

There were 13,763 sales of existing single-family homes year-to-date, which is down 7 percent from this same period a year ago. However, at $182,872, the average price of these homes is up 7 percent from this same time last year. Statistics compare home sales from January to July.

SABOR official say that although the number of sales in 2007 through July may be down in comparison to 2006, the number of home sales so far this year is similar to levels in 2004 and 2005 and continues to reflect a strong and healthy real estate market.

SABOR report that the San Antonio market currently has an average 5.2 month supply of housing inventory. This is compared to 4 months of inventory of single-family homes during the first seven months in 2006.