Homebuilding in San Antonio is slowing as the prices of new houses in Texas have cooled in recent months.Prices of new homes in Texas have cooled in recent months, a report by HomesUSA indicates, amid a slump in the market prompted by higher mortgage rates and the preceding rise in prices.
Its November report indicates that the average new home in San Antonio sold for $388,183 over the past three months. Although prices in those markets — except Austin — are higher than they were a year ago, all have declined since the summer, according to HomesUSA. To attract buyers, builders are offering mortgage buy-downs and money for repairs and upgrades. They are also providing bonuses to agents in addition to their standard 3 percent commissions.
There are 4,182 active listings on average, an increase of 106.4 percent from a year earlier. Listings have risen 43.8 percent in Houston, 174.9 percent in Dallas-Fort Worth and 118 percent in Austin.