Fall home sales soar through the roof despite ongoing pandemic
SAN ANTONIO โ After casually house hunting for months, Sally Garrett decided it was time to get off the fence and into a new home. At a time when home buying typically tapers off, San Antonioโs fall sales are through the roof. October sales were 20% higher than the same time last year, according to the San Antonio Board of Realtors (SABOR). โThey want land and certainly bigger homes,โ he said. More than 3,000 sales are pending for November as it appears buyers will continue to gobble them up.
Lower interest rates entice San Antonio homebuyers during the pandemic
SAN ANTONIO โ The San Antonio home-buying market seems to have thumbed its nose at the pandemic and economic fallout as sales for this year exceeded last year by 5%, according to figures from the San Antonio Board of Realtors (SABOR). After a spring cooldown, summer home sales got hot. โI think one of the biggest reasons is interest rates,โ said SABOR Chairwoman Kim Bragman. Weโre seeing most loans under 3%.โMortgage rates this week averaged 2.87% for a conventional 30-year fixed loan. Peak season simply shifted from spring to summer, Bragman said.