Nearly half of San Antonio's online shoppers look outside the city for homes
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San Antonio's online shoppers are increasingly eyeing homes outside the market, a new report shows.
Why it matters: Once-affordable areas are becoming out of reach, and some buyers in expensive markets are eyeing cheaper ones instead.
By the numbers: In the San Antonio area, 48.5% of Realtor.com listing views between April and June went to homes located outside the metro area. That's up from about 36.8% during the same period in 2019.
- When San Antonians look elsewhere, their top targets are other Texas cities: Austin (11% of outbound views), Corpus Christi (7.2%), and Dallas–Fort Worth (5.9%).
- Inversely, Dallas–Fort Worth buyers accounted for more than a quarter (25.7%) of out-of-metro views into San Antonio, followed by Chicago (10.4%) and Austin (8.2%).
The big picture: Nationally, an average of 59% of Realtor.com listing views from the 100 largest U.S. metros between April and June went to homes outside the metro where shoppers live.
- That's up from 48% during the same time period in 2019, before remote work and cheap mortgages sent droves of homebuyers to lower-cost areas like Charleston, South Carolina.
Reality check: One website's listing views don't necessarily equal real-life home purchases.
- Many shoppers, particularly first-timers, simply don't have the funds.
- And plenty of homeowners are reluctant to move because it would mean giving up a low mortgage rate.