San Antonio's real estate market continues to descend into correction territory

The median home price in the San Antonio area fell for a fifth consecutive month, while home sales here experienced their steepest drop since the onset of the pandemic, according to the San Antonio Board of Realtors. 

That data comes as one prominent economist predicts that home prices across the nation could fall 20% in the coming months as mortgage rates continue their climb. 

According to SABOR's most recent report, the median price of a home in the San Antonio metro area plunged to $323,190 in October. Although that price is up 8% year over year, it's still a 7.6% decline from May, when the median home price in San Antonio peaked at $348,800.

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