Housing prices are still too high in San Antonio and need to come down. The Fed will still increase rates in 2023 with the goal of CPI of 2.5 hopefully pushing home prices down.
This guy is delusional...the crash is already in full swing on the west and east coast. And will reach Texas by middle year. Prices have already been dropping dramatically in SA.Just take a look at Austin right now already dropping 20% and the year just started. Anyone who buys a house this year will regret it when a year from now they could of gotten the same house for 25% less. If you want to be underwater on your mortgage right away then buy now. I'll wait till 2 years when prices drop almost 40%.
Go to new braunfels or Schertz. Small cities of their own jurisdiction outside of the San Antonio metropolis and all the rules, expenses & politics that go with a giant city.
Dude, no. Still about $100,000 too much on average. You need to back off and look at some longer term data. We were at the top of a natural market before the hike which was not natural. A correction will bring us back to pre hike prices plus inflation. Then we will see what happens with the natural market but with a recession coming that doesn't look good either.
where are you at? everything here starts at at least $100k over with many being $150k to $300k over their price. I see mobile homes that were 40k in 2020 are now $160k. There is even one asking for $600k for a mobile home and the tax history is only $150k for the property. It's a freak show in many places. And no... they are not huge tracts they are often 1 or 2 acres in rural, not urban areas... well outside a city and a town with less than 1,000 population is the closest post office.
@@CD-vb9fi I don't see where we disagree. I was being considerate when I said 100,000 over but this video said we we're at the bottom and there is no way. I am in SA btw
I don’t use data older than 12 months because the world changes soooooo fast and the market is no longer keeping the historical trend. Month to month is what I like to see and I’m trying to give y’all the most up to date trends 😊
@@CoinMonti Apologies if my comment comes off as appearing to disagree, but I was just curious where you where at to see what you were seeing. I was just commenting that where I am at East Texas I am seeing prices more than double what a homes tax history is often. Some are even triple. It's crazy out there. 100k is like the minimum markup on everything here. Even the ones that seem almost half sane look like properties that I wouldn't buy at 2015 prices.
@@SanAntonioSuburbs Don't get too lost in the data also that makes you forget common sense. All the noise can miss lead you. A lot of agendas can lie behind data presented. What goes up must come down. The harder and faster the hike, the harder and faster the downturn. If your not looking at prices right before the Pan...., your cheating yourself. That, plus inflation is the base.
@@forrestrealestategroupbrok531 Biggest housing bubble in history. Much worse than 2008. the collapse of Airbnb, inflation that will never for any reason get back to where it was, mass layoffs just around the corner, should I go on?
Weeeeeeelllllll I disagree. The list price of a home is not the same as the sold price. If you look at exact data with actual sales, sales price has dropped 20%ish around the city. Now it’s starting to push up. I don’t see a Airbnb collapse tho. Thoughts?
Research new home hidden inventory. New home builders are not listing many newly built homes for sale (of which there are many with Texas leading the way) in an attempt to manipulate home prices. Even KB Homes is on the edge of bankruptcy. What do you think is going to happen when the big banks put these homes on the market after they repossess these unsold homes. Existing homeowners attempting to sell are going to have to slash prices to compete with the impending fire sale of unsold newly constructed homes.@@SanAntonioSuburbs
Base case is inflation doesn’t go south of 5% for the year. Fed is keeping rates higher for longer (as said many times by Powell). This is going to restrict growth - tech companies especially. The Fed has never engineered a soft landing so not sure i would want to bet on this being the first time. Eventually unemployment spikes ….wait for it. And since when does a realtor ever say now is not a good time to buy. 😅
I think I said it in the video. Now may not be the best time to buy if prices go down but what if they don’t and rates go up. You’ll be kicking yourself. Anyone with a crystal ball want to help us out 😂
I think that saying that November was the high water mark for interest rates is a pretty lofty comment. There's potential for a lot more damage to the real estate market, as the fed raises interest rates even further.
Anyone that thinks this is the bottom is grossly misinformed. Prices jumped 30-40% over the last 3 years and you really think a miniscule 5-10% is enough to offset that jump. Not even close. We still need about 20% at a minimum to get to realistic prices.
Home prices rise over time naturally. Stocks, Homes, land, inflation all rise year over year in a typical economic climate. So yes, homes have appreciated in value but so has everything else. To make an assumption that because something has appreciated in value by 30% over 3 years means its likely to drop 30% when the market corrects itself is unlikely. Take the stock market, when we enter a bear market there are corrections and yes the YTD percent may be down on the year, but it is still up from years past. Growth is inevitable. The U.S median home price is upwards of $450,000 and is below $300,000 in SA.
With all the expansion and areas an infrastructure being built, I don’t see a slow down anymore than we already have seen the last six months. Great insight Keegan and David!
I've been looking and almost purchased since August of 2022. I'm still seeing homes priced in the 300's built in the 60s with the same wallpaper and trailer wood panel walls. We really feel like a home that hasn't been modernized or updated is worth that? A 3 bed 2 bath with a 2 car garage is a golden egg in San Antonio
Agreed, the market is not going to gain 13.5% by April. If anything, it might fall by that much. San Antonio is a military city and summer PCS season is going to interesting to watch. The uneducated may prop the market by a small amount, but the lack of affordability coupled with people forced to move will either crash the rental or housing market
If you didn’t get in at the high, you’ll be back fighting with others at the lows. And when those others are corporations, you don’t stand a chance unless you have a lot of money. I can’t wait to refinance.
Hey Tre - we currently own a home on the West side, just inside Loop 410 by Lackland AFB. I've been intrigued by the City Base area. Do you think City Base is a good place to consider when thinking about moving within the city?
I think city base is incredible. There’s such great neighborhoods around that are little bit closer to China Grove! Shoot me an email and I’d love to explain more. Tre@callthecavalrygroup.com
