SAN ANTONIO, TX (January 21, 2026) — The San Antonio Board of REALTORS® (SABOR) has released its 2025 residential market review for the San Antonio–New Braunfels metropolitan area, highlighting a year of market normalization and a positive outlook for 2026 driven by strong fundamentals and improving affordability conditions.
In 2025, the local housing market adjusted to higher mortgage rates through reduced transaction volume rather than falling home values. The median home price remained essentially flat at approximately $306,000, while closed sales experienced a modest year-over-year decline. At the same time, active listings increased by more than 16 percent, bringing months of inventory to just over five months—near what economists at the Texas Real Estate Center consider a balanced market.
San Antonio’s housing market demonstrated resilience in 2025,” said Ed Zapata, Chair of the San Antonio Board of REALTORS®. “We saw buyers and sellers recalibrate expectations, inventory levels normalize, and prices hold steady. This is a sign of a healthy, sustainable market—not a downturn.
Higher mortgage rates continued to impact buyer activity, particularly among move-up sellers who remain locked into historically low rates. However, affordability remains a key strength for the region compared to other major Texas and U.S. metros. Data show that even modest declines in mortgage rates could significantly expand the pool of households able to purchase a median-priced home, especially among renters.
Demand has not disappeared—it has been delayed,” Zapata added. “As rates ease, we expect many households who paused their plans in 2024 and 2025 to re-enter the market.
Looking ahead to 2026, SABOR expects the San Antonio–New Braunfels housing market to transition from normalization to modest expansion, supported by strong population growth, job stability, and relative affordability. As mortgage rates gradually ease, pent-up demand that remained sidelined in 2024 and 2025, particularly among renters and first-time buyers, is expected to re-enter the market. Even small improvements in borrowing costs are projected to significantly expand the number of households able to qualify for a median-priced home, translating into increased transaction activity.
Home price growth is anticipated to resume at a measured pace, estimated between 2 and 4 percent, reflecting stable growth and more of a supply-demand balance. Inventory levels are expected to tighten modestly as buyer confidence improves, though continued new construction should help prevent sharp price acceleration. Overall, 2026 is expected to be characterized by steady sales growth, disciplined pricing, and a return to more predictable seasonal market patterns, reinforcing San Antonio’s reputation as one of Texas’ most stable and fundamentally sound housing markets.
Overall, SABOR’s outlook for 2026 is constructive and stable, reflecting San Antonio’s role as a fundamentally driven, stable market.
“San Antonio didn’t overheat during the pandemic boom, and it didn’t break during the rate correction,” Zapata said. “That positions our market well for steady, disciplined growth in the years ahead.”