Real Estate Rumblings
Experts agree: San Antonio's hot housing market will continue in 2020. In a survey conducted by real estate marketplace Zillow and Pulsenomics, industry experts predicted home values in San Antonio will outperform much of the nation this year.
The report predicts San Antonio will be a top-10 housing market, landing at No. 7 behind Austin (No. 1); Charlotte, North Carolina (No. 2); Atlanta (No. 3); Nashville; (No. 4); Dallas and Phoenix (tied at No. 5); and Denver (No. 6).
To find the results, Zillow asked 110 U.S. economists and real estate experts to rate 25 American cities based on where they expected home values to grow. Overall, experts predict home values to grow by 2.8 percent across the country this year.
San Antonio scored 32 on a list dominated by cities in Texas and across the South. Forty-four percent of respondents expect San Antonio home values to outperform the national average while the exact same number expect them to stay the same. Just 12 percent expect the Alamo City to see a decline in home values this year.
Unlike Texas, home values in California's biggest cities — San Francisco, San Jose, and Los Angeles — were all predicted to fall in 2020.
"And panelists didn’t just expect those large California markets to underperform, but maybe still grow slightly — in many cases, they said they expected the typical home values in those places to outright fall, ending 2020 lower than where they began the year," Zillow says in a release. "Panelists, 42 total, who thought at least one major metro would see falling home values in 2020 generally agreed that California markets would make that list."
But since this is Texas, let's focus on that, shall we? Across the state, major cities will continue to see rising home values, Zillow predicts.
Booming Austin ranked No. 1, scoring 76, the highest on the list and 17 points higher than the second-ranked Charlotte, which scored 59. Atlanta and Nashville scored 51 and 49, respectively.
Dallas scored only slightly higher (34) than San Antonio. Just 36 percent expect Dallas' home values to stay the same, and only 15 percent expect them to underperform. Charlotte was the only city where no expert polled expected a decline in home prices this year.
Houston ranked the lowest of the Texas cities on the list, earning a score of 10 and just 32 percent of experts predicting that home values will outpace the rest of the country. The majority believe Houston home prices will either pace with the rest of the country (44 percent) or fall behind (22 percent).