More than a third of homes for sale in the San Antonio area are being discounted, according to new data from Zillow.
That rate — 34.2% — is the highest the area has recorded since the Seattle real estate company began tracking the figure in 2018. It’s a massive transition from March 2021, when that rate was at 9.9% – its lowest point.
Notably, data from Zonda, another housing market analytics firm, shows that the buying frenzy reached fever pitch in March 2021. The company recorded 1,933 new home sales contracts, an all-time record for San Antonio.The dramatic turn in the market began when the Federal Reserve raised interest rates.
“I have one family looking to move into a new home, who purchased their home at a 3.3% interest rate,”
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