July Housing Market Report 2021

If you have been keeping up with the housing market news then you know little has changed in the inventory department. Home buyers are frustrated and home sellers are being richly reward for bring their homes onto the market.

As you will notice below we have been experiencing a steady 5-6 weeks worth of supply in the over all area. Some areas are worse. I cover those in the video above.

Bexar County Housing Supply July 2021

San Antonio TX Housing Supply July 2021

What does this leave us with?

Buyer Fatigue

As you can see from the graph above buyer fatigue is setting in. This is one of the ingredients that can lead to decreased demand. I’m not saying that the market will swing all the way to a balanced or buyers market anytime soon. But I can say that at least some pressure on prices and competition is likely to show as some buyers give up the process.

What else is in store for the housing market that could impact buying behavior?

Interest Rates Forecast

As you can see from the interest rate forecast above rates are expected to go higher. And although they may not look significantly higher.

Finally what’s in store for home prices?

Home Price Forecast 2021

Bottom Line

If you are a home buyer and want to own a home stay alert. Prices and rates are likely to rise but your competition is getting tired of looking. Home owners are entering the market much later in the season this year. So you may stumble upon the right house at the right time late this summer or even during the fall.

Home owners wanting to sell, now may be the best moment to unload your home. Particularly if you’re looking for the most favorable terms. While we expect the seller’s market to continue into the future we can never know for certain what events may unfold to change the whole market.

Still have questions? Schedule a quick consultation call back here: Free Consultation

Krishna Perkins

Broker