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2,500-home neighborhood, Craftmasters trade school coming to Burleson
Plus: Defendants in Homie's antitrust suit seek dismissal
☀️ Hola, Texas! Thanks for joining us today.
Today's newsletter is 539 words — a 2.5-minute read.
1. Defendants seek dismissal of Homie’s antitrust lawsuit
On Friday, the National Association of Realtors (NAR), Anywhere Real Estate, Keller Williams Realty, HomeServices of America, and RE/MAX filed motions to dismiss Homie Technologies' antitrust suit, which was originally filed in mid-August in the U.S. District Court in Utah.
In the suit, Homie claims it was harmed by the anticompetitive practices of NAR and the brokerage defendants by conspiring to prevent innovation and boycott low-commission listings.
“If Homie’s allegations in its Complaint are credited, and the NAR Rules did increase the price of brokerage services, then home sellers (the consumers of brokerage services) might be harmed but real estate brokerages (the providers of the services) would be helped because the brokerages would either make more money or take market share by charging less. And Homie is a broker! As a seller of brokerage services, not a consumer of them, it would be helped by higher prices.”
2. Share of new residents who moved from Texas
New Census Bureau data shows that most Texans leaving the state between 2018 and 2022 moved to California, with about 37,005 people making the journey annually. Florida and Oklahoma followed as the next top destinations.
Despite Texas gaining nearly 90,000 Californians in the same period, driven by tech relocations, some tech workers are returning to California, citing Texas' conservative politics and natural disasters.
2018-2022 five-year state-to-county migration flow estimates
Data: U.S. Census Bureau
A MESSAGE FROM DAVE YOUR MORTGAGE GUY
No job, But can I get a mortgage? I know I know…
“Dave what are you smoking! You can’t get a mortgage without a job”
There are some examples where you can and I break them done in this video.
3. Catch up quick
🗳️ First-time home buyers delayed by election. (Redfin)
⚖️ NAR faces a new suit over ‘forced membership’. (HousingWire)
👨💻 Dallas-Fort Worth ranks 2nd nationally in coworking locations. (CoworkingCafe)
🏠 Walmart is selling a tiny house for less than $16000. (as)
📉 Texas home insurance options shrink. (FOX)
🏘️ 2,500-home neighborhood, Craftmasters trade school coming to Burleson. (BizJournals)
🕹️ Fun read: “Minecraft Experience: Villager Rescue” opens to the public in Plano. (Fever)
4. Single-family housing starts increase for the second month in a row
Single-family housing starts rose for the second month in a row in September, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.
New single-family homes were started at a seasonally adjusted annual rate of 1,027,000, up 2.7% from 1 million in August and up 5.5% from 973,000 in September 2023.
Single-family housing completions were down 2.7% month over month but up 1.6% year over year, at a rate of 1 million. Meanwhile, permits for single-family construction were up 0.3% from August but down 1.2% from September 2023.
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