S.A.’s hot home market cools [Central Texas]
The party isn’t exactly over for San Antonio real estate, but the champagne has stopped flowing.
Home builders, feeding off of the anxiety of the national real estate meltdown coupled with the typical seasonal slowdown, have started offering deals and incentives not available a few months ago.KB Home even has started to lay off employees.
The flurry of year-end deals can be attributed, in part, to an annual strategy builders use to move homes off the books for tax purposes. But there’s also a sense that 2007 won’t be as good as 2006, and that the frenzy that typified home building and sales in recent years has eased.
“I’m hearing more people being concerned than I am (hearing them be) ecstatic,” said Michael Moore, vice president of the Greater San Antonio Builders Association.