The federal reserve on Wednesday instituted its largest interest rate hike in nearly 30 years, but that is not expected to slow down San Antonio’s housing market.

Charts show real estate housing market statistics in San Antonio and surrounding areas.

Despite a health crisis and recession, the San Antonio housing market saw record sales last year, a trend economists say they expect to continue into the new year. The San Antonio Board of Realtors held its annual Housing Forecast Thursday, and due to the pandemic, it was all virtual. The major driving force behind soaring sales, he said, has been and will continue to be record low mortgage rates. They are in the housing market now.”As for where people are moving, look to the suburbs. RELATED: Housing market on the rise in San Antonio

CHARLOTTE, N.C. – Sales of existing homes rose for a fifth straight month in October, reaching a level not seen since before the housing bubble popped 14 years ago. The National Association of Realtors said Thursday existing homes sales rose 4.3% to an seasonally-adjusted rate of 6.85 million annualized units. The 6.85 million figure is the highest for that data since February 2006 — the eve of when the housing market reached its apex and subsequently collapsed. Realtors and housing market experts have said the housing market is in a different and healthier place than it was the last time sales were at these levels. The inventory of unsold homes sits at 2.5 months' supply, down from 2.7 months' supply in September.