![]() ![]() While the three-month moving average for sales has risen in recent months, there’s a caveat, Caballero said. Listings have risen 43.8 percent in Houston, 174.9 percent in Dallas-Fort Worth and 118 percent in Austin. There are 4,182 active listings on average, an increase of 106.4 percent from a year earlier. ![]() New homes in San Antonio are spending more time on the market - about 65 days on average as of November, compared to 49 days a year prior - as inventory expands. “Builders have been able to delay some of the effects of the high interest rates and the slowdown by offering incentives,” Caballero said. They are also providing bonuses to agents in addition to their standard 3 percent commissions. To attract buyers, builders are offering mortgage buy-downs, and money for repairs and upgrades. “Mortgage application activity sunk to a quarter-century low this week as high mortgage rates continue to weaken the housing market,” Sam Khater, Freddie Mac’s chief economist, said Jan. ![]() That’s up from 6.42 percent a week earlier and 3.22 percent a year earlier. The average rate for a 30-year, fixed-rate mortgage was 6.48 percent during the week ended Jan. Prices in Austin, Dallas-Fort Worth and Houston have also been on the decline in recent months.Īlthough prices in those markets - except Austin - are higher than a year ago, all have declined since the summer, according to HomesUSA. On : Homebuilding frenzy cooling - even in hot San Antonio “But I bet if you knew exactly what builders are paying (for) commissions and incentives, it would be a larger drop.” “That’s not a big drop,” said Ben Caballero, a real estate agent and CEO of. This past year, the three-month moving average peaked in July at $407,028. That was down from $390,159 in October and $400,473 in September. Its November report indicates that in the past three months, the average selling price for a new home in San Antonio was $388,183. HomesUSA, a Dallas-based real estate firm, evaluates multiple listing service data and three-month moving averages for sales, prices, active listings and other figures. ![]()
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