Sales of existing homes dropped again last month, signaling the market is calming down from pandemic frenzy.

In a surging spring housing market, San Antonio area sellers are seeing multiple offers, offers above asking price, and even personal letters from buyers.

SAN ANTONIO – After casually house hunting for months, Sally Garrett decided it was time to get off the fence and into a new home. At a time when home buying typically tapers off, San Antonio’s fall sales are through the roof. October sales were 20% higher than the same time last year, according to the San Antonio Board of Realtors (SABOR). “They want land and certainly bigger homes,” he said. More than 3,000 sales are pending for November as it appears buyers will continue to gobble them up.

SAN ANTONIO – The San Antonio home-buying market seems to have thumbed its nose at the pandemic and economic fallout as sales for this year exceeded last year by 5%, according to figures from the San Antonio Board of Realtors (SABOR). After a spring cooldown, summer home sales got hot. “I think one of the biggest reasons is interest rates,” said SABOR Chairwoman Kim Bragman. We’re seeing most loans under 3%.”Mortgage rates this week averaged 2.87% for a conventional 30-year fixed loan. Peak season simply shifted from spring to summer, Bragman said.