SAN ANTONIO – William Curtis, chairman of the San Antonio Board of Realtors, joined Leading SA to discuss the current state of the local housing market.
Despite rising interest rates nationally, Curtis said San Antonio’s housing market remains stable.
“One of the beautiful things about San Antonio is our highs are never so high, and our lows are never so low,” Curtis said.
Curtis credits the diversity of San Antonio’s economy, anchored by military bases, biomedical research, and a robust tourism industry. These factors have made the housing market less vulnerable to major swings in either direction.
Curtis said we are currently in a seller’s market, but there are still opportunities for buyers. He recently looked to move into a new home with his family.
“Absolutely great opportunities out there to purchase,” Curtis said.
When asked if now is a good time to buy a home, Curtis said that it comes down to personal finances and plans. He advised that if you love a house, purchase it, and you can always refinance if interest rates fall. In the long-term, home values tend to increase year-over-year in San Antonio.
As for predictions, Curtis expects a slower 2024 due to the presidential election. However, he anticipates continued steady growth in home prices. Changes by the Federal Reserve on interest rates will impact the market as well.
The bottom line, according to Curtis, San Antonio’s economy is anchored in stable industries that require in-person work. This buffers the housing market and the local commercial real estate market, and it makes the Alamo City attractive for continued growth.