Report: Nearly 90% of homes in San Antonio, Austin, declining in value

Home values in San Antonio have declined 13.1% since their peak, according to the report. Credit: Wikimedia Commons / Ian Muttoo

Things keep getting worse for San Antonio’s housing market.

The Alamo City ranks among the worst U.S. markets for declining home values and houses sold at a loss, according to a new report from online real estate marketplace Zillow.

Nationally, a little more than half, or 53% of all homes in the U.S., have lost value since October 2024, researchers found.

Making matters worse for San Antonio, 86% of all homes have dropped in value over the past year — one of the largest such percentage declines. On average, homes here logged a 13.1% drop from their peak, the fifth-largest such decline in the nation.

In nearby Austin, things were even worse: 89.5% of homes declined in value, and at an average rate of 20.5%.

“Homeowners may feel rattled when they see their Zestimate drop, and it’s more common in today’s cooler market environment than in recent years,” Zillow Senior Economic Researcher Treh Manhertz said in a statement. “But, relatively few are selling at a loss.”

Indeed, just 8.1% in San Antonio are selling at a loss, as compared to 12.6% of homes in Austin. The report said the low number of homes sold underwater indicates that the overwhelming majority of homeowners aren’t being forced to sell due to economic hardships or other reasons.

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Report: Nearly 90% of homes in San Antonio, Austin, declining in value

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