When Christi Cantu decided it was time to upgrade to a bigger home for her family of six, she found no shortage of possibilities. There were plenty of attractive pre-owned homes for sale in the San Antonio area, but high mortgage rates made it difficult to find one that fit her family’s budget. Builders’ offers to help with rate buy-downs and other financing perks on new homes caught her eye, though.
What real estate commission changes mean for San Antonio home buyers and sellers They first listed their three-bedroom home for sale in August 2023 but didn’t receive any offers. Potential buyers made appointments to walk through, then never showed up. A handful of other homes within a few minutes’ drive were also on the market so the couple took down the listing, changed real estate agents and tried again in February — again to no avail.
National organization wants to work with San Antonio churches on using land for affordable housing The supply of homes for sale this summer in San Antonio hit the highest point since 2013. Inventory — which measures how long it would take for homes to be sold at the current pace — averaged about 5.25 months from July through September. A six-month supply is generally considered a balance between buyers and sellers.
Massive development set for 2,000 acres of ranchland on San Antonio’s Southeast Side Morton offered $330,000 and closed the deal in July. She said she wants to update the kitchen and other rooms but quotes from contractors have been high, so those plans are on hold. “I wish I didn’t rush into getting the house,” Morton said. “I wish I took a little more time … I feel like my desperation got the best of me on that one.
Here’s how much you need to earn to afford a typical house in the San Antonio area “There are more inventory choices for consumers, lower mortgage rates than a year ago and continued job additions to the economy,” he said in a statement. “Perhaps, some consumers are hesitating about moving forward with a major expenditure like purchasing a home before the upcoming election.” A decline in mortgage rates could make purchasing a home more tempting for some buyers.