San Antonio new home prices fell during January sales slump

New home sales fell in San Antonio in January, the report said. iStock

A new statewide real estate report has shown a slow decline in new home sales across Texas, including in the San Antonio metro area.

The latest New Home Sales Index by HomesUSA.com discovered 67 fewer homes were sold in San Antonio from December 2024 to January 2025. The three-month moving average of new home sales in the metro was 1,008 in January, versus 1,075 sales in December.

Housing prices also declined in January, with the average new home in San Antonio dropping to $337,414. That's nearly $7,000 less than the average price in December, which came out to $344,343.

While these declines may seem atypical, a sales slump is actually normal during the winter season, according to HomesUSA founder and CEO Ben Caballero.

Active new home listings in San Antonio flattened from December to January, with 5,230 active listings on the market last month.

New home sales in January throughout Texas
The report found new home sales dropped not only in San Antonio, but also in Austin, Houston, and Dallas-Fort Worth.

Houston's three-month moving average of new home sales was the highest out of all four metros with 2,046 sales made in January, but that figure technically decreased by 138 homes from December.

Dallas-Fort Worth sold 1,847 new homes last month in a 43-home decrease from December.

Austin the fewest new homes sold last month out of the four major Texas metros: At 809 homes sold.

"January sales are often lower than December in Austin as builders push hard to close the year with as many sales as possible, as I mentioned in last month’s report," Caballero said. "Austin builders were offering discounts, buyer incentives, and Realtor bonuses for December closings. A slower January is not unusual for that reason."

January housing prices fell in Houston to an average $395,515, and Austin's average new home price fell to $483,056. This wasn't the case in Dallas-Fort Worth, however, as prices increased by nearly $2,600 to $496,498 last month.

New Home Sales Index for January 2025 by HomesUSA.com Average prices for new homes fell in Austin, San Antonio, and Houston, but increased in Dallas-Fort Worth.Courtesy of HomesUSA.com

It takes Texans eight workdays each month to unlock homeownership. Photo by Jakub Żerdzicki on Unsplash

For homebuyers, a mortgage payment is likely their biggest monthly expense. Fortunately, Texas sits below the national average for the number of workdays required per month to afford a monthly mortgage payment, according to a new analysis from Realtor.com.

In Texas, it takes eight workdays to come up with enough money for a typical mortgage payment, the analysis shows. The national average is 10 days.

Realtor.com’s estimate for Texas is based on the median list price for a home in February ($355,000) and assumes a 6.65 percent interest rate on a 30-year, fixed-rate mortgage with a 20 percent down payment. The analysis factors in property taxes and insurance premiums using a 1.7 percent annual rate. January wage data from the U.S. Bureau of Labor Statistics rounded out Realtor.com’s calculation of the eight-workday figure for Texas.

“The number of workdays required to afford a home today stems from a couple factors. First, home prices have risen faster than incomes, widening the gap between earnings and housing costs. Second, elevated mortgage rates have increased borrowing costs, further stretching monthly budgets,” says Charlie Lankston, executive editor of Austin-based Realtor.com. “As a result, prospective buyers must allocate more of their income, and consequently, more workdays each month, to afford mortgage payments.”

Mortgage payments are a concern for many homeowners. In a 2024 survey commissioned by personal finance website Bankrate, 13 percent of homeowners complained that their mortgage payment was too high. Nonetheless, 74 percent of first-time homebuyers indicated in a recent TD Bank survey that they were optimistic about today’s housing market.

Despite the optimism about the market overall, 64 percent of buyers surveyed by TD Bank were worried about their ability to afford a home due to current interest rates.

In the Realtor.com analysis, Texas fares much better than many other states. What follows are the four states where it takes the most workdays to afford a monthly mortgage payment:

Hawaii — 17 days
California — 15 days
Massachusetts — 15 days
Montana — 15 days

At the other end of the spectrum are Kansas, Missouri, Indiana, Illinois, West Virginia and Michigan — all at the seven-workday mark.

homebuyers homeowners housing costs housing market income mortgage property taxes study real estate

housing in satx

Average new home prices in San Antonio fell during January sales slump

housing in satx

Average new home prices in San Antonio fell during January sales slump

Home At Last

Here's how many days Texans work to afford their monthly mortgage

Home At Last

Here's how many days Texans work to afford their monthly mortgage