San Antonio - Excess Inventory?

[Mayur Dewaikar]

I am looking to buy a single family long-term rental in the San Antonio, TX area. In reviewing the current inventory, both for sale and for rent, it appears that there is an excess of homes available in the area. Many homes have sat on the market for a while. Any San Antonio folks able to share insights on what may be going on? 

[Mayur Dewaikar]

Quote from @Jordan Moorhead:

Currently San Antonio has 3.8 months of inventory on the sale side meaning it's still a sellers market but creeping towards a buyers market which is above 6 months of inventory.

I imagine we'll see this number decrease as we move into the year. There is a lot of pent up demand due to high rates and there is still a major lack of new supply. EVERYONE is waiting for interest rates to come down. They're already declining and are expected to continue throughout the year. Many think that when rates get back down into the 6's we'll see a lot of buyers get interested in making a move.

Thanks, Jordan. Any thoughts on the rental inventory?