Market history

In 2022 the average mortgage rate went from about 3% to about 7% in less than a year. What that did to monthly payments, to sellers, to builders and to renters in San Antonio.

Record-low mortgage rates, a wave of new arrivals and too few homes for sale sent San Antonio prices and rents sharply higher from 2020 to 2022. What drove it, and what it changed.

When the 2008 crash flattened home prices across much of the country, San Antonio bent rather than broke. Why, and what it still tells buyers and owners here today.