“A lot of times, what’s good for buyers is bad for sellers, but right now ... the way most people are going to interpret this is bad for everybody.”
Homes in the Paloma subdivision in East San Antonio are pictured in October. San Antonio’s housing market has been cooling over several months, and it is expected to continue doing so, a forecast by the Texas Real Estate Research Center at Texas A&M University suggests.The housing market in San Antonio and nationwide has slowed sharply as would-be home shoppers grapple with high mortgage rates and home prices, making it too expensive for many to buy.
Price appreciation, however, is expected to moderate and even perhaps turn negative. The center projected such price trends even without the effects of high interest rates, saying that the pace of growth was “never sustainable.” “A lot of times, what’s good for buyers is bad for sellers, but right now, by and large, the way most people are going to interpret this is bad for everybody,” Perdue said.Austin will likely see the largest reduction in price growth because of how much prices climbed during the pandemic, Perdue said.
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