San Antonio Sellers Hit the Brakes: New Listings Plunge as Housing Market Cools
San Antonio Sellers Hit the Brakes: New Listings Plunge as Housing Market Cools
Home sellers in San Antonio are pulling back hard, with new listings dropping sharply amid a broader slowdown in sales activity.[1][2] This shift signals a cooling market after years of frenzy, giving buyers more breathing room but challenging sellers who once cashed in quickly.[1][5] As we head into 2026, understanding these trends could make or break your next move.
Background/Context
San Antonio's housing market boomed during the pandemic, drawing buyers with affordable prices and steady job growth.[5] But rising mortgage rates since 2022 locked many homeowners into low-rate mortgages, discouraging them from listing.[5] High rates slowed transactions nationwide, and San Antonio felt the pinch as sellers waited for better conditions.[1][2]
By late 2025, signs of normalization emerged. Inventory began balancing after years of shortages, shifting power toward buyers.[4][5] Population growth and military relocations kept demand alive, but seasonal dips amplified the slowdown.[2][3] This sets the stage for 2026 forecasts predicting modest growth rather than explosive gains.[1][6]
Main Analysis
New listings plummeted in recent months, a clear sign sellers are hesitant. In November 2025, San Antonio saw 3,143 new listings, down 13% from the prior year, while active listings climbed 14% to 16,114.[1] December brought even fewer at 1,598, a 17% drop, typical for the season but part of a downward trend.[2]
Sales followed suit. November closed 2,206 single-family homes, down 19% year-over-year, with pending sales at 2,112, off 17%.[1] Homes lingered longer too, averaging 86 days on market, up 18%.[1] Early 2026 weekly data showed 286 sales for January 12-18 (median price $319,375), dropping to 269 the next week (median $280,999).[3]
Prices held steady despite the slump. Over 90% of November sales hit near list price, and forecasts eye 2-4% appreciation in 2026.[1][4][5] Inventory hit a balanced 5.25 months by late 2025, up with 17,043 active listings (15% year-over-year gain).[4] Days on market averaged 61-74, but well-priced homes sold in 10-14 days.[4]
Realtor.com ranked San Antonio 60th out of 100 metros for 2026 growth, projecting just 0.6% in sales and prices.[1] "San Antonio’s housing market remains steady overall, even as sales activity softens," said Katie Griffin-Ross, SABOR chair.[1] Local experts note mortgage rates easing toward 6% could spur activity.[2][4]
| Metric | November 2025 | Change YoY | Source |
|---|---|---|---|
| New Listings | 3,143 | -13% | [1] |
| Home Sales | 2,206 | -19% | [1] |
| Days on Market | 86 | +18% | [1] |
| Active Listings | 16,114 | +14% | [1] |
| 2026 Price Growth Forecast | 2-4% | N/A | [4][5] |
Real-World Impact
Buyers gain leverage in this shift. More inventory means negotiating power, especially on mid-priced homes where medians dipped to $280,999 in late January.[3] First-timers and renters could enter as rates ease, trading rent for equity.[6]
Sellers face tougher choices. Holding low-rate loans makes sense short-term, but 2-4% appreciation rewards timely moves, particularly in spring.[4][5] Military families benefit from VA buyer demand and PCS seasons.[4] Delays risk missing peak activity, as "demand has not disappeared - it has been delayed," per SABOR's Ed Zapata.[5]
The economy feels ripples too. Slower sales curb construction booms, stabilizing jobs but slowing wealth gains for homeowners.[5] Affordability versus Austin or Dallas keeps San Antonio attractive, preventing a crash.[1][5]
Different Perspectives
Not everyone sees doom. SABOR calls the market "healthy and sustainable," crediting resilience and normalization.[5] "San Antonio didn’t overheat... and it didn’t break," Zapata noted.[5] Forecasts predict steady sales with 9% more existing supply.[6]
Others highlight softness. Dropping pendings and listings suggest sellers await rate drops, per video analysis.[2] Weekly data shows buyer selectivity favoring value, not weakness.[3] Realtor.com's low ranking tempers optimism at 0.6% growth.[1]
Veteran-focused views emphasize opportunity: balanced inventory favors strategic sellers.[4]
Key Takeaways
- New listings down 13-17% signals seller caution, boosting buyer options in a balanced 5.25-month inventory market.[1][2][4]
- Prices stable with 2-4% growth forecast for 2026; act in spring for fastest sales under 14 days if priced right.[4][5]
- Buyers: Negotiate now amid longer days on market (61-74 avg) and easing rates toward 6%.[1][4]
- Sellers: Don't wait forever - delayed demand will return, but equity builds steadily.[5][6]
- Overall: Healthy cooldown, not crash, buoyed by jobs and affordability versus Texas peers.[1][5]