San Antonio Emerges as Top 10 Real Estate Market to Watch
San Antonio’s rapid population growth has propelled it into the spotlight as one of the United States’ top real estate markets. The city has secured the eighth position among the top 10 hottest real estate markets to watch in 2024, as indicated by the recently released Emerging Trends in Real Estate report from PricewaterhouseCooper (PwC). Designated as a “Super Sun Belt” market, San Antonio’s inclusion highlights its status among the fastest-growing markets in the U.S., underscored by its solid economic performance and a remarkably swift and complete recovery.
The PwC report characterizes these markets as both expansive and diverse yet still maintaining affordability, contributing to the development of robust economies that attract a wide array of businesses. Furthermore, the report identifies San Antonio as the second-ranking market with the most promising prospects for homebuilding in 2024. Interestingly, this positive outlook contrasts with the ongoing downward trend in home sales within San Antonio’s housing market.
Despite a continuous decline, exemplified by a 15% year-over-year decrease in September 2023, with a total of 2,744 sales reported by the San Antonio Board of Realtors, the city’s housing inventory is on the rise. Homes are spending an average of 47 days on the market, yet the overall housing inventory in San Antonio stands at 3.4 months, leading the San Antonio Board of Realtors to characterize the market as “robust.”