San Antonio’s housing market showed signs of recovery in early 2024, with home sales increasing for the fourth straight month in March. According to the San Antonio Board of Realtors, sales rose 7% year-over-year, and the median home price climbed slightly to $290,000. Despite this modest rise, prices remain below the peak levels seen during the housing boom of recent years, giving buyers more leverage. At the same time, homes are sitting on the market longer — an average of 74 days — indicating a shift toward a more balanced market between buyers and sellers.
Inventory is also trending upward, now at 4.5 months’ worth of supply, signaling an improvement from the scarce availability in previous years. The rise in supply can be attributed to both new construction and existing homeowners deciding it’s time to sell, possibly encouraged by falling mortgage rates. However, experts still caution that affordability remains a concern, particularly for first-time buyers contending with inflation and high borrowing costs.
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