Real estate becoming less affordable amid rising inflation, interest rate hikes.
SAN ANTONIO – The housing market in San Antonio is showing signs of slowing down as real estate becomes less affordable amid rising inflation and interest rate hikes.
Home sales are down and prices are up in the San Antonio area, according to the latest statistics from the San Antonio Board of Realtors.
“In total, 3,167 homes sold in September,” said SABOR’s 2022 Chairman of the Board Tracie Hasslocher. “This is the sixth consecutive month where we see a decrease in sales.”
San Antonio isn’t the only Texas city experiencing a decline — home sales were down across the state.
There were 29,111 homes sold in Texas in September, a decrease of 15% from Sept. 2021., statistics show.
Average home prices increased by 10% and median prices by nearly 12% from a year ago. The average price for a home sold in San Antonio in September was $389,372, SABOR reported.
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