This summer real estate experts say there’s a shakeup in the San Antonio housing market. Historically, house sales and prices spike up during the summer, but that doesn’t seem to be the case in 2024. This summer real estate experts say there’s a shakeup in the San Antonio housing market. Historically, house sales and prices spike up during the summer, but that doesn’t seem to be the case in 2024.
Skubik said historically, houses put on the market during the summer sell faster and at a higher price, but so far this year, that hasn’t been the case. Many real estate experts say high interest rates are to blame. In June, mortgage interest rates were higher than they were when 2024 started. “A lot of people have been holding off to buy because they're waiting for a lower interest rate, and unfortunately, they keep on pushing it back, and now it looks like they're not even going to drop it as many times as they said they were,” said Skubik.“My house interest rate right now is really low but to get a loan, your interest rates are pretty high, it’s like three times what my interest rate I right now and so it’s you know, that’s kind of discouraging,” said Trujillo.