We’re making our final preparations before Offerpad’s official launch into San Antonio on March 18.
Already providing home purchase offers in Dallas-Fort Worth since November and in Houston as of last month, Offerpad is proud to be a part of Texas real estate. In addition to San Antonio, we’re excited to announce that we’ll be opening in Austin on the same date. Our extension throughout the Texas Triangle is exciting for us as well as home sellers and buyers there, as we widen our footprint in the state and present Offerpad as another option for their real estate moves within our new cities or to the other cities within Texas’s biggest metros where we already work.
Why Offerpad is buying homes in San Antonio
Offerpad has been able to help hundreds of customers in Texas between its two existing metro areas and the many cities and homeowners it serves. San Antonio presents another exciting opportunity for us to give real estate consumers a great home buying and selling experience that will allow them freedom and convenience during their move.
Among many reasons for Offerpad to continue expanding across Texas and into San Antonio, some include that the area scores positive employment trends, has high employment in specialized sectors, records increasing income growth, and shows heightened household growth.
Employment
Between health care, manufacturing, tourism, and military, employment in San Antonio is trending positive. One in six jobs in the area is in health care and bio-science as the sector has expanded quickly over the years. Also, Toyota Motor Manufacturing Texas employs 3,000 San Antonians at its large truck plant in San Antonio, and ancillary companies service the plant. Another economic driver in the area is tourism. San Antonio is home to The Alamo, River Walk, Sea World, Six Flags, and other attractions that contribute to its large hospitality industry. With so much opportunity, San Antonio has a very low and still decreasing unemployment rate.
Income growth
San Antonio enjoys an upward trending income growth; the area’s fastest rate in over ten years was recorded in October at 3%. Along with this, median household income has been on a steady rise since 2011. One year ago, San Antonio’s income growth was at 2.7%. As residents’ income grows and they look to make real estate moves, Offerpad will be happy to help them sell a home in San Antonio and buy their next place in the area.
Household growth
For about the past 10 years, the number of San Antonio households has also seen increases. Year-over-year household growth has risen from under 15,000 in 2010 to over 20,000 as of October 2018. The year-over-year growth percentage has climbed from 2% to 2.4% as more and more households have grown or entered the metro over the years.
Selling a home in San Antonio is getting better
Offerpad has been received very well in its other Texas metro areas and cities, and while each location we go to is unique in real estate, culture, and consumer needs, we’re convinced that we can make a difference for people looking to sell a house in San Antonio with the most convenience. Offerpad has become a part of the Texas real estate landscape and our entry into Alamo City is much anticipated as it represents the state’s second-most populated city.
With a reach across the four largest metros in big Texas, we plan to work toward our goal to provide people with the absolute best real estate experience. By introducing our solutions to the huge population of Texans living in Dallas-Fort Worth, Houston, San Antonio, and Austin as well as those moving into and between the state’s four biggest areas, Offerpad plans to facilitate the smoothest transactions in The Lone Star State.