Influx of outsiders
San Antonio ranks among 10 hottest markets for relocating homebuyers
Drawn by relatively low home prices, buyers increasingly are flocking to the San Antonio metro area.
Among more than 100 major metro areas, San Antonio ranked as the ninth most popular destination for homebuyers moving to the area compared with homebuyers leaving the area, according to the Redfin real estate platform.
Redfin’s report suggests 5,335 Redfin users relocated to the San Antonio area in the second quarter, compared with 4,356 during the same period last year.
“Homebuyers are seeking out less expensive locales like Tampa and San Antonio, partly because the surging cost of housing and … goods is limiting their ability to buy homes in many U.S. cities,” says Taylor Marr, deputy chief economist at Redfin.
Miami topped Redfin’s list of the most popular migration destinations in the second quarter of this year. Dallas-Fort Worth landed at No. 10.
Redfin’s report indicates 4,964 Redfin users relocated to Dallas-Fort Worth in the second quarter, compared with 7,458 during the same period last year.
During the second quarter, 42 percent of Redfin home searches in the San Antonio area came from outside the region. The leading source of those searches? Buyers from the Austin area. For Dallas-Fort Worth, the same figure was 25 percent, with buyers from Los Angeles contributing the most search activity.
It’s no surprise that Austin-area buyers are hunting for homes in the San Antonio area. In June, the median sale price for a home in the Austin area was $537,475, the Austin Board of Realtors says. In the San Antonio area, the median price stood at $348,200. That’s a difference of nearly $190,000.