May 1, 2019
The San Antonio economy expanded at what the Federal Reserve Bank of Dallas dubbed “a healthy pace” in March 2019. The metro’s business-cycle index increased by an annualized rate of 3.9% in March, above the long-term average of 3%, while the unemployment rate of 3.1% was the lowest reading in 19 years.
Job growth expanded at an annualized rate of 2.9% in Q1 2019, with construction leading all sectors at an annual rate of 10.8%. Leisure and hospitality increased by 8.5%, while areas of weakness focused on manufacturing, and health and education services.
The median sales price for homes was $299,131 in March, representing a slight decline from the previous month. Home inventories remained at 3.6 months, well below the six months considered to be a balanced market.
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