“So the number of homes sold is absolutely slowing down a little bit. We saw those units drop about 15% year over year. However, we’re also seeing the price of homes still going up year over year, about 12%. So while we’re seeing less homes sold overall, we’re not seeing any of the values go down,” Hawthorne said.
There are a lot of questions in the aftermath of the GDP contracting two quarters in a row; some economists state that it is a technical recession, but here locally. Hawthorne said the market should be safe.In San Antonio, we had such a strong hyper-local market, it’s propped up by a lot of different things that the national economy simply doesn’t have the luxury of having. And so because of that, our market will likely grow a little bit slower than it’s been growing.
With the influx of people moving to the Alamo City and our surrounding areas, what is stopping our area’s home prices from reaching Austin?Austin was designed intentionally to reject growth. And if you look historically, that’s how it was designed. The original founders did not want that to happen. San Antonio is very growth-minded. They want to bring in economy. They want to bring people in and have it a very diverse economy with a lot of different services being offered.
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