San Antonio's housing market cooled a little more in September, and buyers have more room to shop than they have in a while.
Home sales in September were 2% lower than in the same month a year ago, according to the San Antonio Board of Realtors. The median home price fell by the same percentage, to just under $302,000. Texas Public Radio's Brian Kirkpatrick reported the numbers on Oct. 16.
More homes, more time
The board says it would take six months to sell all the homes that were on the market in San Antonio in September. That gives buyers more time and more choices before they agree to a deal. The average home is sitting on the market for close to three months.
Board Chair Ed Zapata said sellers should look at comparable sales and set a realistic asking price from the start, because buyers may no longer feel pressured to rush.
"September's market offers buyers a broader selection and more time to evaluate their options," Zapata said.
Some sellers are budging a little, but many are not. The board reports about nine out of 10 sellers got their original asking price in September.
Mortgage rates are part of the picture, but Zapata told TPR in September that buyers are weighing a lot more than their interest rate.
"While mortgage rates around 7% certainly impact purchasing power, the bigger issue for San Antonio buyers continues to be overall affordability, including home prices, property taxes and insurance," he said.
Texas and the nation
San Antonio isn't alone. Statewide, home sales fell more than 4% in September compared with September 2025, and the Texas median home price slipped just under 1%, to $330,000. That means a typical San Antonio home still costs about $28,000 less than the statewide median.
Renting isn't cheap either. For people thinking of renting a local home instead of buying, the average residential rental rate was a little more than $1,800, according to the report.
Nationally, existing-home sales were down about 2% from a year earlier, according to the National Association of Realtors. NAR said month-over-month sales rose in the South and West, held steady in the Midwest and fell in the Northeast. Compared with last year, sales were down in all four regions.
"Despite the small monthly gain on a seasonally adjusted basis, August and September marked the two slowest months for home sales this year," NAR Chief Economist Lawrence Yun said in a news release. "Further increases in mortgage rates in recent weeks mean fewer buyers can qualify to purchase a home."
For homeowners thinking about selling, the message from local Realtors is simple: price the house right from the beginning. For buyers, the market is offering a broader selection and, in Zapata's words, "more time to evaluate their options."
Why it matters for Contractors
A slower resale market touches contractors in a few ways. With six months of inventory and homes sitting for close to three months, sellers are under more pressure to make their homes stand out. That can mean pre-listing repairs, fresh paint, new flooring, roof work and curb appeal projects. Sellers who are holding out for their asking price may be more willing to fix what an inspector flags.
For home builders, the numbers are a reminder that buyers are being careful. Zapata pointed to prices, property taxes and insurance as the bigger worries for buyers, not just interest rates. Builders competing with a growing supply of resale homes may lean harder on price cuts, rate buydowns and smaller, more affordable plans, and the subcontractors who work for them should expect builders to keep a close eye on costs.
There's also an opening for remodelers. Homeowners who decide not to sell in a slow market, especially those who locked in a low mortgage rate, may choose to fix up the house they have instead. Kitchens, bathrooms and additions can look a lot better than a move when mortgage rates are around 7%.
The rent numbers are worth watching too. With average rents over $1,800, renting isn't a cheap way out of the buying market, and contractors who work on rental homes and apartments will want to keep an eye on whether that number moves.