San Antonio housing market coming back down to Earth

– Sales of existing homes dropped again last month, signaling the market is calming down from the pandemic frenzy.“Prices were high,” he said. “People were outbidding us. We’d put in an offer. We’d be a little over asking, and somebody else would come in even further over asking.”

Last month, existing home sales dropped yet again, down 28 percent compared to the same time last year, according to figures from the San Antonio Board of Realtors. “The market started shifting in July,” said Monique Cardenas, realtor with Frontline Properties Group. “So, now, our buyers have a lot more opportunities to get the home that they’re looking for.”

“We are past the three percent interest rates and multiple offer situations,” Cardenas said. “So, it’s really about educating our clients right now.”

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