San Antonio homes are selling much slower than national average
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U.S. houses are selling at the slowest pace since March 2020, with San Antonio area homes having spent a median of 75 days on the market before going under contract, per December data. That's much longer than most other major metros, the data shows.
The big picture: "Homes are taking a long time to sell largely because housing costs are so expensive — but for buyers who can afford it, there are a fair amount of homes to choose from," Redfin's Dana Anderson wrote in the report.
Reality check: Sales are still moving fast in relatively affordable parts of the country where competition is hot, Zillow senior economist Orphe Divounguy tells Axios.
- San Antonio is still considered a hot market, but not as hot as we used to be — so homes are lingering longer.
Zoom out: Nationally, homes average 49 days on the market. In Dallas-Fort Worth and Houston, it's 60 and 55 days, respectively.
What's next: As inventory continues to climb nationally, house hunters could gain negotiating power.