TEXAS \u2014 Buyers are firmly in control of the housing market, according to experts. Sellers are cutting prices and offering concessions to compete with new construction.\u00a0<\/p>\n
Evan Morales took advantage of the buyer\u2019s market and bought his first home in Kyle, Texas.\u00a0<\/p>\n
\u201cI was talking with my mom and my realtor, Amanda, and she was telling me, \u2018Oh, it\u2019s better just to buy a home… you\u2019re going to be spending a lot more money renting a home, and you\u2019re not even going to own it at the end of the day,\u2019\u201d said Morales.\u00a0<\/p>\n
His home was initially $315,000. He got it for $27,000 cheaper, even locking in a 3.5% interest rate \u2014 far below the average rate.<\/p>\n
Amanda Ponce, Morales\u2019 real estate agent, said new builds like the one he bought appeal more to new buyers like Morales. She said builders are locking in lower, more attractive mortgage rates.<\/p>\n
\u201cThe builder can buy in bulk a lot of mortgages, and they\u2019re able to offer interest rates at 3.5% all the way to 4.3%, give or take,\u201d said Ponce.\u00a0<\/p>\n
According to Redfin, Houston is Texas\u2019 strongest buyer\u2019s market, followed by San Antonio, Austin, Dallas and Fort Worth. The research also notes rising insurance costs are affecting how buyers are willing to spend, particularly in coastal markets like Houston, which are prone to natural disasters.\u00a0<\/p>\n
\u201cPersonally, I just like newer things, and just this house alone was already pretty big as it is. It\u2019s a corner lot, too, so that alone makes it a lot bigger,\u201d said Morales.\u00a0<\/p>\n
Data shows well-priced, move-in-ready homes are attracting multiple offers.<\/p>\n","protected":false},"excerpt":{"rendered":"TEXAS \u2014 Buyers are firmly in control of the housing market, according to experts. Sellers are cutting prices…\n","protected":false},"author":2,"featured_media":435872,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[13732,132,5606,910,1570,102,3222,56,82,84,83,27,1569,835],"class_list":["post-435871","post","type-post","status-publish","format-standard","has-post-thumbnail","category-san-antonio","tag-app-housing","tag-austin","tag-barbara-fox","tag-business","tag-ctv","tag-dallas","tag-housing","tag-houston","tag-san-antonio","tag-san-antonio-headlines","tag-san-antonio-news","tag-texas","tag-texas-what-you-need-to-know","tag-vod"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/435871","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=435871"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/435871\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/435872"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=435871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=435871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=435871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}