San Antonio, October 23, 2025
News Summary
In a troubling trend for the San Antonio housing market, cancellation rates for home purchases have surged to 19% in September, marking a significant increase from the previous year. Economic concerns and a phenomenon known as ‘Goldilocks thinking,’ where buyers won’t compromise on ideal home conditions, are contributing factors. The situation is compounded by rising inventory and economic anxiety fueled by recent layoffs in the defense sector. With more sellers entering the market, many potential buyers may be reassessing their options amidst fears of potentially better deals elsewhere.
San Antonio has ranked as the No. 2 metro area in the United States for homebuyer pullout rates as more potential buyers are opting to cancel their purchases due to economic concerns. In September 2024, 19% of home purchases in San Antonio were called off, an increase from 16.8% in the same month the previous year. This rise in cancellation rates places San Antonio second only to Tampa, which recorded a 20.1% cancellation rate.
The national average for deal cancellations stands at 15%. This trend of high cancellation rates is attributed to a phenomenon known as “Goldilocks thinking,” where buyers are holding out for the perfect home and refusing to make compromises, including on concessions and repairs. Sellers, especially those who acquired their homes during the COVID-19 real estate boom, are hesitant to lower their asking prices, further complicating negotiations.
Economic fears are also playing a significant role in this hesitation, notably concerns over job security. Recently, the defense contracting sector has experienced job cuts, highlighted by a notable layoff of 279 employees by CBRE in October. These layoffs have added to the economic uncertainty in the region, further dampening buyer confidence.
Similar trends in rising home sale cancellations have been reported in nearby Dallas and Fort Worth, suggesting that the issue is not isolated to San Antonio but part of a broader trend across Texas. Additionally, the increasing number of homes on the market is providing buyers with a greater selection, which may be leading to buyer’s remorse as individuals fear they might find better deals elsewhere.
Redfin has indicated that many major metropolitan areas in the U.S. are shifting towards becoming buyers’ markets. Austin leads this transition, exhibiting a significant disparity between sellers and buyers with 130% more sellers than buyers, while San Antonio follows closely with 109% more sellers.
With the rising inventory and slower sales, a decline in home prices is becoming evident. Redfin has noted a marked increase in price negotiations as sellers and buyers attempt to find common ground. National trends indicate that buyer expectations have declined due to climbing mortgage rates alongside housing costs. Consequently, many prospective buyers are reassessing their spending capabilities.
In San Antonio, approximately 10% of home listings were estimated to be at risk of selling at a loss as of May 2025, ranking it the fifth-highest among the 50 largest metro areas in the U.S. If prices decline by 1% by the end of 2025, Redfin anticipates that the risk of homes selling at a loss in San Antonio could rise to 11.9%.
What were the homeowner pullout rates in San Antonio in September 2024?
19% of home purchases were called off in September 2024, up from 16.8% in the previous year.
What percentage of home purchases were canceled nationwide?
The national average for deal cancellations is 15%.
What is “Goldilocks thinking”?
“Goldilocks thinking” refers to buyers expecting perfect homes and refusing to compromise on concessions and repairs.
How many employees were laid off by CBRE in October?
CBRE laid off 279 employees in October, contributing to economic anxiety in the region.
| Feature | Details |
|---|---|
| Homebuyer Pullout Rate (September 2024) | 19% |
| Cancellations in Tampa | 20.1% |
| National Average for Deal Cancellations | 15% |
| Expected Loss Sale Risk (May 2025) | 10% |
| Projected Loss Sale Risk if Prices Decline (End of 2025) | 11.9% |
| Date | Event | Status/Source |
|---|---|---|
| September 2024 | Homebuyer pullout rate reaches 19% | Reported by Redfin |
| October 2024 | CBRE lays off 279 employees | Company announcement |
| May 2025 | 10% of home listings at risk of selling at a loss | Reported by Redfin |
| End of 2025 | Projected risk of 11.9% of homes selling at a loss if prices decline | Market prediction by Redfin |
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Additional Resources
- CultureMap: Austin
- Google Search: San Antonio Real Estate
- Community Impact: San Antonio
- Wikipedia: Real estate
- CultureMap: San Antonio
- Google Scholar: Real Estate Trends 2025
- Realtor: San Antonio
- Encyclopedia Britannica: San Antonio
- News4SanAntonio: San Antonio
- Google News: San Antonio Housing Market
Author: STAFF HERE SAN ANTONIO WRITER
The SAN ANTONIO STAFF WRITER represents the experienced team at HERESanAntonio.com, your go-to source for actionable local news and information in San Antonio, Bexar County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Fiesta San Antonio, San Antonio Stock Show & Rodeo, and Dia de los Muertos. Our coverage extends to key organizations like the Greater San Antonio Chamber of Commerce and United Way of San Antonio and Bexar County, plus leading businesses in retail, insurance, and energy that power the local economy such as H-E-B, USAA, and Valero Energy. As part of the broader HERE network, including HEREAustinTX.com, HERECollegeStation.com, HEREDallas.com, and HEREHouston.com, we provide comprehensive, credible insights into Texas's dynamic landscape.