Rate of discounted homes on the market reaches highest level since the pandemic

  • 📰 ksatnews
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 53%

Business News News

Business Business Latest News,Business Business Headlines

More than a third of homes for sale in the San Antonio area are being discounted, according to new data from Zillow.

That rate — 34.2% — is the highest the area has recorded since the Seattle real estate company began tracking the figure in 2018. It’s a massive transition from March 2021, when that rate was at 9.9% – its lowest point.

Notably, data from Zonda, another housing market analytics firm, shows that the buying frenzy reached fever pitch in March 2021. The company recorded 1,933 new home sales contracts, an all-time record for San Antonio.The dramatic turn in the market began when the Federal Reserve raised interest rates.

“I have one family looking to move into a new home, who purchased their home at a 3.3% interest rate,”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 442. in BUSİNESS

Business Business Latest News, Business Business Headlines