San Antonio posted one of nation's largest drops in median home prices

The San Antonio area posted one of the steepest year-over-year drops in both median home prices and pending home sales of any U.S. metro, according to a new Redfin report. Median home prices in the Alamo City metro are down 1.6% since September 2022, meaning the area posted the nation's fourth-largest decline for the period, according to Redfin. Meanwhile, pending home sales in the San Antonio metro slid 24.7% over that same period — the nation's second-largest drop. Redfin's report comes as high mortgage rates, which now stand at 7.19% for a 30-year fixed, are forcing homebuyers to the sidelines and leading to declines in sale prices.