The number of homes sold increased for the second straight month after nearly two years of monthly declines, Realtors data show.
Home sales in the San Antonio area were up for a second straight month in February, potentially marking a turning point after nearly two years of monthly declines. The early-year increases come ahead of the busy spring home buying season as prices are continuing to decline and supply increasing. House hunters in Bexar and surrounding counties closed on 2,697 homes last month, up 13.5% from February 2023, according to the latest data from the San Antonio Board of Realtors.
Amid high rates, startup lets prospective homebuyers search for assumable mortgages The median sale price of a house was $295,000 in February, down 3% from a year earlier. It was $290,000 in January — the first time it had dipped below $300,000 since September 2022, Realtors data show. The selling price was $240,000 in March 2020, at the start of the pandemic. Sellers are cutting prices to woo buyers whose incomes have not kept pace with rising housing costs.
Here’s how much you need to make to afford a typical house in the San Antonio area The real estate listings website predicts the median price for existing houses will fall 1.7% this year “due to the required share of household income to purchase a home reaching unsustainably high levels.” Mortgage rates dipped late last year but have been inching up in recent months, another factor that could be prompting sellers to reduce their asking prices. The 30-year fixed-rate mortgage averaged 6.
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