Housing Market Slows Amid High Rates | San Antonio News

Housing market slows as soaring mortgage rates and record prices chill buyer enthusiasm, yet July sales edged up year-over-year—thanks to a stubbornly tight inventory and a median home price that climbed 2% to $434,100. With the 30-year fixed rate hitting 6.69% for the fifth straight week, first-time buyers are fading from the scene, now making up just 29% of sales, while only a 4.6-month supply of homes remains—far below the healthy 5-6 month benchmark. Economists warn a return to near-6% rates could dramatically revive demand. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/dfa6302ca7702995