It’s a nasty time to be itemizing your home available on the market, however a good time to be a purchaser in San Antonio, when you have the money, in line with a report launched final week by on-line actual property market Redfin.
Based on the report, San Antonio is the sixth greatest marketplace for potential residence consumers within the nation, with sellers outnumbering consumers by 109%. In different phrases, there are such a lot of properties on the market that consumers have plenty of energy.
San Antonio isn’t an outlier, although. Nationally, there have been 36.7% extra residence sellers than consumers, that means many out there for a brand new residence had important leverage in negotiations.
In no market was this extra true than Austin, which has the best seller-to-buyer ratio within the nation, in line with Redfin.
“Rents have gone down a lot in Austin that lots of people are opting to hire as a substitute of purchase,” Redfin Premier actual property agent Andrew Vallejo mentioned in a press release. “If a house is listed on the market at $500,000, with right now’s mortgage charges and a 5% down fee, your month-to-month fee can be round $4,000, however you could possibly hire that very same property for $2,500 a month.
Based on Redfin, the slowdown in residence shopping for nationwide is because of excessive residence costs, excessive mortgage charges, and financial uncertainty.
Fort Lauderdale had the second-highest seller-to-buyer ratio, adopted by West Palm Seashore at No. 3, Miami at No. 4, and Nashville rounding out the highest 5.
Subscribe to SA Present newsletters.
Observe us: Apple Information | Google Information | NewsBreak | Reddit | Instagram | Fb | Twitter | Or join our RSS Feed
Associated Tales
Residence gross sales dropped almost 20% since final yr, with costs declining round 8% from their peak in Could.
In complete, 4 Texas cities landed in Redfin’s prime 20 markets with the best share of worth cuts.
4.3% of San Antonio metro residents are greater than 30 days late on their mortgage.
