Builders are offering concessions to attract buyers in San Antonio and other cities.
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.
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