Median home prices here have already declined for five consecutive months, according to the San Antonio Board of Realtors. SanAntonio SATX SanAntonioTX SanAntonioHomes SanAntonioRealEstate HousingCrisis housingmarket
that homeowners can expect home values to drop 20% from their peaks.
Zandi also told the magazine that the continued decline in home prices is the result of higher mortgage rates, which are holding steady at 6.49% for a 30-year fixed loan,Those rates — the highest since the months leading up to the 2008 financial crisis — result from the Federal Reserve's continued efforts to combat inflation.
San Antonio's predicted home devaluations are less severe compared to Texas' other major cities. Moody's forecasts that homes in Austin could drop 16.3%, while homeowners in Houston and Dallas-Fort Worth could see declines of 13%,
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