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San Antonio's real estate market continues to descend into correction territory

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Home sales dropped nearly 20% since last year, with prices declining around 8% from their peak in May. SanAntonio SATX SanAntonioTX Texas HomePrices RealEstate HousingCrisis

The number of homes with price cuts jumped by nearly 6%, according to a new analysis.

That data comes as one prominent economist predicts that home prices across the nation could fall 20% in the coming months as mortgage rates continue their climb. , the median price of a home in the San Antonio metro area plunged to $323,190 in October. Although that price is up 8% year over year, it's still a 7.6% decline from May, when the median home price in San Antonio peaked at $348,800.

 

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