Governor Greg Abbott announces property tax relief as an emergency item

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Today's newsletter is 620 words — a 2.5-minute read.

1. Dallas is one of the top housing markets for planned office-to-apartment conversions

According to a RentCafe report, in 2021, there were 12,100 office-to-apartment units in the conversion pipeline. Fast-forward to 2025, that figure is now 70,700—an increase of 484% in just four years.

The Dallas metro area, which ranked fifth, is set to add more than 2,720 apartments converted from office spaces, which will make up 79% of all upcoming adaptive reuse projects.

Future office-to-apartments by metro area

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2. Governor Greg Abbott announces property tax relief as an emergency item

In his State Address on Sunday night, Governor Gregg Abbott announced property tax cut relief as an emergency item for the 89th legislation.

He said he wants to prevent cities and counties from finding loopholes to increase property taxes for Texas homeowners.

In the last session, the Texas legislature provided $18 billion for tax cut relief, the largest amount during Abbott's time in office. However, for many Texans, those cuts were wiped out by local taxing authorities that hiked property taxes even more, Abbott said.

The governor now says he wants to use at least $10 billion more from the state budget for relief this session.

3. Catch up quick

📰 CFPB freezes activity after acting director Scott Bessent takes helm. (Yahoo)

📈 Active listings mark the 15th straight month of growth. (Realtor.com)

🌆 Dallas-based HN Capital Partners plans to build a two-tower project in Design District. (Axios)

💰 53,000 acres of Piloncillo Ranch in South Texas are up for sale. (MySA)

🏠 Report: Climate change could erase $1.5 trillion in real-estate value. (FirstStreet)

🔑 Fun read: The fifth season of NAR’s ‘First-Time Buyer’ now streaming. (Hulu)

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4. Trump tariffs will hurt housing affordability, says NAHB

President Donald Trump announced on Monday that he is pausing the new 25% tariffs on goods imported from Mexico and Canada for one month, providing temporary relief for homebuilders. However, the 10% tariff on Chinese goods remains in place.

While the move aims to boost American manufacturing and curb illegal immigration, industry leaders like the National Association of Home Builders (NAHB) warn that these tariffs could seriously affect housing affordability and availability.

5. Compass launches Compass One: A dashboard connecting compass agents to their clients in real-time

Compass, the largest residential real estate brokerage in the US by sales volume, announced the launch of Compass One, a client-facing version of its end-to-end technology platform its agents use.

According to Rory Golod, Compass' president of growth and communications, the portal is "the first of its kind" in the industry, allowing an agent and client to work together through the entire transaction. The platform offers a detailed timeline of the buying and selling process along with the expected timing for each step.

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