Rising sale prices combined with mortgage rates that topped 6 percent for the first time...
Data from the San Antonio Board of Realtors shows 3,272 homes were sold in Bexar and surrounding counties last month, a 13 percent drop from August 2021.
Despite the slowdown, though, prices keep soaring. The median sale price in August jumped to $339,200, up 14 percent from the same month in 2021. Average U.S. rates for a 30-year fixed-rate mortgage were 6.02 percent for the week ended Sept. 15, up from 5.89 percent a week earlier and 2.86 percent a year earlier. At that rate, a borrower making a 20 percent down payment for a median-priced home in San Antonio and obtaining a $271,360 loan would pay $1,630 a month at the current rate. That’s $23 more than a week earlier and $507 more than a year earlier.
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