Study says majority of homes sold in Texas are now going for below asking price

SAN ANTONIO — Inflated home prices and interest rates after the coronavirus pandemic forced many buyers out of the housing market. But one study found what was once a seller's market, isn't the case now.

Brian Mylar, a realtor with Coldwell Banker Deanne Harper Realtors told KENS 5,"You'd like to say it is a sellers market, but there still isn't enough houses out there to meet the demand, but it's really not because buyers have a lot of leverage in this situation because the interest rates are a little higher than people would like them right now."

Mylar added,"So that means more opportunities for buyers. But it also means for sellers that their house is staying on the market a little bit longer."

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More than half of Texas homes selling below market value, study findsDespite the economy's quick post-pandemic growth, Texas isn't immune to the pressure that higher interest rates have put on the housing market, according to a new study from real estate data company Agent Advice. Using figures from online marketplace Zillow, the new report found that 61.
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