What is the state of San Antonio’s residential real estate market?
TUESDAY on "The Source" — The San Antonio Board of Realtors released their latest market analysis report earlier this month. According to the report, San Antonio has seen a decrease in home sales for seven consecutive months.
In October, there were more than 2,500 homes sold, which is a 19% decrease from 2021. On average, 95% of homes were sold for their listed price and only spent 44 days on the market.
With a greater amount of student debt and other barriers, homeownership levels are drastically different between generations. The U.S. Census Bureau estimates that 34.5 million millennials own homes. Though the homeownership of millennials has increased in the past few years, it is still much lower than the rates for baby boomers and Generation X homeowners.
Residential housing prices in San Antonio have been on the rise, adding yet another barrier for many millennial and Gen Z potential homeowners. The financial decision to purchase a house is not an easy step to take.
Is now the best time to buy or sell a home? What do first-time homeowners need to know before the big purchase? What is the median price for a home in San Antonio, and can younger generations afford it? What can first-time homebuyers do to get a good loan?
- Tracie Hasslocher, broker, owner of Hasslocher Boutique Realty, and the current chairman of the board for the San Antonio Board of Realtors
- Wayne Ramirez, realtor with Realty San Antonio
- Ramzi Abou Ghalioum, residential real estate reporter for the San Antonio Business Journal
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*This interview will be recorded on Tuesday, November 28