Dhanani Private Equity plans a 1,000-home community in Fort Bend County

🌅 Good morning, friends! Welcome to this Tuesday's edition of Texas Real Estate News.

Today's newsletter is 696 words — a 2.5-minute read.

1. NAR files Supreme Court petition to block DOJ investigation

The National Association of Realtors (NAR) has filed a petition with the Supreme Court, requesting it to block the Justice Department (DOJ) from reopening an investigation into the organization’s commission practices.

NAR claims that the Justice Department’s recent actions violate the terms of a settlement reached in 2020, which had closed a prior investigation into its broker commission policies.

NAR’s petition contests a ruling from the Court of Appeals for the D.C. Circuit, which allowed the DOJ to revisit the investigation.

2. Austin and San Antonio to share home listings

San Antonio and Austin real estate agents can now access each other's home listings thanks to a data share agreement between both cities' Realtor boards.

A data-sharing agreement between the Realtor boards means agents in the two cities have mutual access to each other’s multiple listing services.

The agreement follows a similar partnership SABOR (San Antonio Board of REALTORS) established with the Houston Association of Realtors last year, which allowed agents access to listings from three of Texas’ four major markets.

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3. Catch up quick

🏘️ Dhanani Private Equity plans a 1,000-home community in Fort Bend County. (TRERC)

📉 D-FW home builders reported a slower third quarter. (DallasMorningNews)

💵 Austin and San Antonio are among the metros with the deepest rent cuts. (RealPage)

📚 Report: Many sellers negotiated lower commission fees with agents. (Zillow)

🏴‍☠️ Fun read: Houston couple builds a life-size pirate ship for Halloween. (KHOU)

4. Houston Housing Authority extends voucher freeze

The Houston Housing Authority (HHA) is facing a freeze on new housing vouchers—a program that makes housing affordable for people with low income—likely extending into 2025 and affecting over 2,300 families.

This freeze results from budget overruns due to rising rents and changes in federal funding calculations.

HHA has urged Congress for increased funding to support the voucher program amid a severe housing shortage in Houston.

5. DFW's industrial vacancy rate remains high, even as new construction slows down

Nearly 20 million square feet of industrial space is under development in Dallas-Fort Worth, less than half of last year’s figure. Despite the slowdown in construction, vacancy rates are still higher than in 2023 and above the region’s long-term average.

According to Avison Young's Q3 industrial market snapshot, the region’s vacancy rate reached 11%, continuing the upward trend that started in Q2 as the market shifted into oversupply.

6. San Antonio's tallest residential tower is nearly finished

A former parking lot at North Main Avenue and East Travis Street in downtown San Antonio has been transformed into 300 Main, the city’s tallest residential tower.

• This 32-story high-rise features 354 upscale apartments, with rents starting at $1,432 for studios and reaching $3,400 for two-bedroom units.

300 Main offers a range of amenities, including a fitness center, a rooftop pool, co-working spaces, and a dog run, all spanning about 40,000 square feet. The building also includes a six-story parking garage and over 6,000 square feet of retail space.

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