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2022: What to Expect in San Antonio/Austin Real Estate
December 20, 2021

2022: What to Expect in San Antonio/Austin Real Estate

by The CE Shop Team

San Antonio and Austin’s 2022 Real Estate Markets Will Be on Fire

Despite the continuing COVID-19 pandemic and the uncertainty that has come with it, the San Antonio and Austin real estate markets have been some of the strongest in the country this year. In 2022, markets across Texas, especially San Antonio and Austin, are forecasted to continue that momentum. With demand steadily increasing, low-interest rates motivating buyers, and rapidly rising home sale prices, real estate agents all across San Antonio and Austin should gear up for another scorching year.

2022 San Antonio/Austin Real Estate Outlook: Hot

As of October 2021, the average home in San Antonio was valued at $243,114, a 20.5% increase year-over-year (YoY). That figure is expected to increase as Zillow predicts the market will accelerate and rise by another 18.1% within the next year, and we expect a similar though accelerated trajectory in the capital. The average Austin home was valued at $612,645, a staggering increase of 39.4% YoY. Austin’s market isn’t going to cool down, as home prices are predicted to rise by another 20.6% in 2022. These home price increases reflect the scorching Texas real estate market.

San Antonio

San Antonio Housing Data Zillow
Source: Zillow

Austin

Austin Housing Data Zillow
Source: Zillow

In conjunction with increased home values, home sales across Texas declined by 4.0% in 2021, a figure that parallels both Austin and San Antonio’s homes sales, which dipped by 10.2% and 9.4%, respectively. Even though homes sales have declined, the number of days properties spent on the market hit 29 days in San Antonio and 39 days in Austin, both increasing in last few months. Buyers in both markets will continue to face competition in 2022, as the number of homes for sale declined by 37.5% in San Antonio and 16.4% in Austin.

San Antonio Housing Supply

Austin Housing Supply

Renters in Texas are also feeling the burn of a hot real estate market. Rent prices across Texas increased by 12.6% on average YoY. While San Antonio renters rejoiced over the mere 1.9% increase in rent costs, Austin renters lamented the staggering 29.2% rental price increase.

While renters seek affordable housing, current homeowners are thriving. Only 0.8% of San Antonio’s mortgages were 30-89 days delinquent as of March 2021, while 0.4% of Austin’s mortgages were 30-89 days delinquent at that same time. 

Expect inventory to remain low in the year ahead, which will keep prices high and serve as the catalyst for bidding wars. San Antonio and Austin real estate, while still a great investment that affords its homeowners a high quality of life, will play out to be a strong seller’s market in 2022.

2021 - 2022 San Antonio/Austin Real Estate Market Data

Market

San Antonio

Austin 

Zillow Home Value Index

$243,114

$612,645

Home Value Change YoY

+20.5%

+39.4%

One Year Home Values Forecast

+18.1%

+20.6%

Rent Price Change YoY

1.9%

29.2%

Mortgage Delinquency Rate

0.8%

0.4%

Available Housing Inventory

4,493

3,292

Buyer’s or Seller’s Market

Seller’s

Seller’s

Market Insights for San Antonio/Austin

In October 2021, the Bureau of Labor Statistics reported that San Antonio’s unemployment rate was 4.3%, down from 6.0% in June. In Austin, the most recent unemployment rate was 3.4%, down from 4.8% in June. Both of these markets have rebounded from 2020’s unemployment rates and shown their resiliency in these unusual times. Economic activity often correlates with growth in the real estate industry, and narrowing unemployment rates along with low-interest rates are a positive sign for agents the year ahead. 

Both San Antonio and Austin are attractive housing markets, comprising two of the best places to live in Texas. Here’s how San Antonio and Austin rank when compared to other large metros:

San Antonio

  • Fourth in best cities to live in Texas
  • Fifth in best cities to live for military retirees
  • Seventeenth in best cities to telework

Austin

  • First in cities for dating
  • First in cities to move to (Global Ranking)
  • First in cities to live in Texas

Heading into 2022, Texas real estate agents will continue to be in high demand as hot housing markets like San Antonio and Austin are forecasted to keep growing. The sky’s the limit, and these housing markets clearly haven’t hit that ceiling. There has never been a better time to help your fellow Texans find the property of their dreams.

Ready to Accelerate Your Real Estate Career in Texas With The CE Shop?

Enroll in our Pre-Licensing program now to get your career started and begin connecting your fellow Texans with the real estate they’re looking for, or keep going strong with one of our comprehensive, 100% online Continuing Education packages. Want to stay up to date on everything San Antonio/Austin? Join our Facebook group!

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