that have risen significantly since early in the coronavirus pandemic, soaring housing prices and inflation are making it more difficult to buy a home, which could cool the San Antonio area’s sizzling housing market.
With a 3 percent mortgage rate, the income needed to qualify for a $235,000 home is about $61,000, she said. At a 5.5 percent rate, qualifying income rises to about $73,000.Inflation up; inventory down Families are also concerned about inflation, so buying a home now could “seem a little bit nerve-wracking,” Losey said.Four ZIP codes in San Antonio, New Braunfels make Opendoor’s 20 ‘hottest neighborhoods’Also, home construction has not kept pace with the number of households Texas is adding. Builders are grappling with increasing costs of construction, such as labor and materials, as well as supply chain snags.
Home price growth is also anticipated to moderate. Year-over-year growth of 20 to 30 percent is not sustainable as incomes are not increasing that quickly and people are concerned about inflation and a possible recession, Losey said.A breakdown of key state and local races and candidates in the May 24 primary runoff.