REAL ESTATE NEWS
San Antonio ranked No. 1 buyer’s market among major U.S. metros

Redfin says San Antonio home buyers hold all the cards.
If you’re shopping for a home in the San Antonio area, this might be a great time to make a purchase.
A new report from residential real estate platform Redfin ranks San Antonio as the top buyer’s market among the country’s 50 largest metro areas. In a buyer’s market, prospective homeowners wield an advantage over sellers, strengthening their ability to score a bargain.
The report shows that in October, there were 117 percent more sellers than buyers in the San Antonio area — the highest percentage across the 50 biggest markets. In second place: the Austin metro area, where there are 115 percent more sellers than buyers last month. Across the country, there were 37 percent more sellers than buyers.
“Of course, it’s only a buyer’s market for those who can afford to buy — many Americans have been priced out of the housing market as affordability has eroded,” Redfin says.
During the pandemic, homebuyers from pricier places relocated to the Sun Belt (which includes Texas), driving up housing costs and pricing local residents out of the market, according to Redfin.
“To meet surging demand,” says Redfin, “homebuilders ramped up activity, which is one reason there are now a lot more homes for sale than people who want to buy them. … New construction can have a significant influence on whether negotiating power lies with buyers or sellers because it impacts the balance of supply and demand.”
In the San Antonio market, home sales slid 10 percent in October compared with the same time a year earlier, according to a San Antonio Board of Realtors (SABOR) report. But the average home price increased two percent to $377,040.
In addition, the SABOR report shows San Antonio-area homes spent an average of 83 days on the market in October, up 17 percent from the same time a year earlier, while pending home sales fell 14 percent.
