Home sales jumped in October, but what's in store for San Antonio's housing market in the coming months?
A brief drop in mortgage rates coupled with an increasing number of properties on the market sent San Antonio-area buyers scurrying to snap up houses in October, pushing sales to the largest monthly percentage increase in more than three years. Buyers closed on 2,895 home sales in Bexar and surrounding counties last month, according to new data from the San Antonio Board of Realtors , up 18.6% from October 2023.
Power tilts toward San Antonio home buyers as market cools The current boom was spurred by mortgage rates that edged down in late August and continued dropping in September. The declines prompted some house hunters to get off the fence and make a deal. Thirty-year fixed mortgage rates averaged 6.08% during the week ended Sept. 26, the lowest point since September 2022, according to mortgage giant Freddie Mac. October transactions reflect offers buyers made several weeks earlier.
San Antonio council approves community land trust policy for affordable housing The San Antonio market mirrored the national market, which also was busier in October. Sales of existing homes across the U.S. increased 2.9%, the first year-over-year increase in more than three years, according to the National Association of Realtors.
Realtors San Antonio Board Board Of Realtors National Association Of Realtors Will Curtis Sam Khater Lawrence Yun San Antonio Bexar U.S.
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