San Antonio real estate agent says housing market won’t slow down anytime soon
SAN ANTONIO – Research from realtor.com shows homes in San Antonio are up 12.2% year over year. This means that homes are on average over 12% more expensive now than they were around this time last year.
There are a lot of questions about the real estate market today and what is on the horizon. This is why Danny Charbel along with Keller Williams San Antonio joined HIS leader on Sunday to break down the market.
“Normally we see San Antonio being a bit isolated from the effects and trends across the country. This was certainly not the case with this pandemic as it occurred. Now, when interest rates fell to near zero, the whole country went into a flurry. And San Antonio is no exception to this rule, ”said Charbel.
There are a variety of people buying new homes in the area, including first-time buyers.
“We see a lot of young people in their twenties and thirties who are either looking to get deep into the heart of the city or start looking at, you know, school districts planning for their future, that kind of thing taking place. in older homes, rehabilitates them, making them look what they want them to look like. The pandemic has really stoked the fire and people are looking inside and deciding what they really want from a home and what they need to prepare for the next big thing, ”Charbel said.
But there are also a lot of people taking advantage of the market.
“We also see these people downsizing and making an interesting gesture. Lots of people sell their home, family home or whatever, and move into condos or townhouses on smaller lots, less maintenance, something a little newer, maybe so they can lock up and go, as they say, to go on vacation or hang out with grandchildren and things like that. So it’s not so much about which areas get a lot of activity, but which market segments we see focus on different parts of the city, ”said Charbel.
San Antonio is seeing a rise in prices, but so are our surrounding cities.
“We are seeing remarkable growth in the peripheral regions. And that part of that is our people coming from other states, other places and saying, “Hey, you know, I want that experience in Texas. I want to get away from it all, I want to be, I want to have a little leeway. You know, people coming from the shores say, “You know, can I get away from my neighbors? Can I have some space? ”Said Charbel.
There are a lot of people waiting for the market to slow down, and there are concerns that it might collapse. However, Charbel doesn’t see this happening anytime soon.
“We expect, at least according to speculation, that this kind of activity and that kind of home buying fervor will continue at least until the second quarter of next year, if not into the third quarter of this year. ‘next year. And it’s all going to be solidified by interest rates. As long as interest rates stay very, very low. You’re going to see this kind of activity in the purchasing industry. And then, of course, people sell because they can get a lot of money for their homes. And I’m not mad at them for that, ”Charbel said.
You can watch Charbel’s full interview in the video player above.
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