In Killeen, Texas, about one hour north of Austin, local agent Stephen Harris has noted a change in housing values. New construction homes in suburban neighborhoods have recently sold for roughly $50,000 less than similar units in 2022. Developers now offer mortgage rate reductions of one to two percentage points. This pricing tactic has led many buyers, who once sought older homes, to consider new builds. Harris remarked, "Many shoppers are cautious when exploring these modern properties, yet the available rate cuts make them more achievable." His comment mirrors a rising trend in the area.
In San Antonio, project manager Khadija Najmi recently settled into a newly built home. When examining traditional houses during a move from Dallas to be closer to family, she and her husband chose a modern property. A reduction in their mortgage rate to 4.99% enabled them to afford a larger residence. These market changes offer buyers practical financing options and widen available home selections. Revised pricing and rate reductions are attracting more home buyers.
