Houston and San Antonio ranked as Texas’ two strongest buyer’s markets in an Aug. 24 Redfin analysis, as sellers continued to substantially outnumber buyers in both metros. Houston had an estimated 129.8% more sellers than buyers in July, the widest gap in Texas. San Antonio followed at 116.3%.
Median sale prices still rose year over year, increasing 1.2% in Houston and 3.3% in San Antonio. The combination reflects a broader 2026 housing-market dynamic: rising inventory can shift negotiating power toward buyers before it produces significant price declines.
Houston vs. San Antonio housing market data
Houston reached a record 40,750 active listings in July, up 3.4% from a year earlier, according to the Houston Association of Realtors. Single-family sales also increased 1.6% to 8,340.
The median single-family price edged up 0.6% to $340,000, while the average price rose 1.9% to $440,816. Buyers therefore had more listings to choose from without a corresponding year-over-year decline in the median price.
San Antonio had 6.11 months of inventory in July, while sales rose 5% year over year to 3,328, according to local market figures. The median price increased 2% to $315,000.
Homes averaged 81 days on market, up 11% from a year earlier, and sold for about 93% of their original list price. Longer marketing times and higher inventory gave buyers more opportunity to negotiate.
San Antonio’s sales trend varies by source. A separate July metro analysis reported closed sales down 12.6% year over year, while the local figures showed a 5% increase. Because the reports rely on different datasets and may cover different geographies, the figures should not be treated as directly comparable.
The Texas Real Estate Research Center found similar supply pressure in its June data. Both Houston and San Antonio posted year-over-year gains in active inventory and months’ supply. Its home price index showed Houston moving closer to price stabilization, while San Antonio prices remained nearly 2% below year-earlier levels.
What this changes for listing conversations
Buyer agents have more room to discuss concessions, closing costs, repairs and other terms. Agents cited in the Aug. 24 analysis also reported resale sellers competing with builders offering new-construction incentives.
For listing agents, the Texas data reflects a challenge that can emerge in other inventory-heavy markets: sellers face more competition even when headline prices remain relatively stable. In Houston and San Antonio, that competition can come from both resale listings and builders offering incentives.
Citywide statistics should remain a starting point rather than a pricing recommendation. Agents should compare active inventory, recent comparable sales, days on market and new-construction competition within a client’s neighborhood and price range.
What to watch next
The next local and statewide reports will show whether Houston’s price stabilization continues and whether San Antonio’s higher inventory creates additional price pressure into the fourth quarter.
For agents beyond Texas, the two markets offer a useful example of how a shift toward buyers can first appear through greater inventory, longer marketing times and increased negotiating room rather than sharp declines in home prices.