Highland Homes begin presales at the new Katy development

🌅 Rise and shine — Welcome to your Tuesday read.

Today's newsletter is 671 words — a 2.5-minute read.

1. Houston ranks No. 1 in single-family home permits

Houston is the No. 1 home-building market in the country, with 232,810 permits approved between January 2020 and August 2023, according to Houston Business Journal, citing Zillow.

Trailing behind Houston was Dallas-Fort Worth, with 207,471 permits.

While Houston-area single-family home values increased 39% between January 2020 and August 2024, they surged 47% in Dallas-Fort Worth, according to the analysis.

2. New home sales in Texas slowed in September

New-home sales slowed in Texas’ four largest markets last month, according to the latest report from HomesUSA. The three-month average of home sales in Dallas-Fort Worth, Houston, Austin, and San Antonio slid to 5,722 in September from 5,803 in August.

By city, the September three-month moving average of new-home sales in Dallas-Ft. Worth slid to 1,848 from 1,862 in August, while it dipped to 1,943 from 1,970 in Houston. In Austin, it fell to 864 from 871, and in San Antonio, it declined to 1,067 from 1,100.

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3. Catch up quick

🏢 Dallas, Houston losing $3B a year in office rent revenues. (CREDaily)

📈 Home prices grew 0.5% in September, the fastest pace since April. (Redfin)

💸 401 Lakeshore Drive was the most expensive home sold in the Houston area the week of Oct. 13. (HAR)

🚫 Austin Council approves initiative that aims to protect renters from hidden fees. (AustinMonitor)

⚖️ New objection to NAR settlement targets business practice changes, plaintiffs’ attorneys fees. (UBLaw)

😎 Fun read: Houston named one of the top 10 trendy destinations for 2025. (Booking.com)

4. Judge’s order delays Dallas City Council vote on Pepper Square shopping center rezoning

A Dallas City Council decision on whether to rezone an aging North Dallas shopping center planned to be redeveloped into nearly 1,000 apartments, will be delayed for at least a month after a judge blocked the group from considering the proposal on Wednesday.

The Save Pepper Square Neighborhood Association sued Dallas, its City Council, and the City Plan Commission on Tuesday, arguing Dallas officials didn’t properly follow requirements for posting notice of a public meeting for the rezoning case.

The group sought a temporary restraining order to stop the City Council from weighing in on a Plan Commission recommendation from August to rezone the Pepper Square shopping center, and Dallas County Civil District Court Judge Martin Hoffman approved the request Wednesday morning.

5. Highland Homes begin presales at the new Katy development

Highland Homes has started preselling homes in Grange, a new master-planned community by Johnson Development in Katy.

The builder is offering 13-floor plans priced from $600,000, designed for 60-foot lots. The one- and two-story designs range from 2,700 to 3,900 square feet and feature three to six bedrooms and three to five full baths.

The community, a 1,130-acre parcel located at Morton Road and FM 2855, is expected to include approximately 2,400 homes.

6. A $2 billion mixed-use development is in the works near DFW Airport

A new development is planned for a 140-acre plot of land near the Dallas-Fort Worth airport between east Fort Worth and Grand Prairie.

The project, titled River Central, would see a variety of establishments, including:

River Central will be located near CentrePort Trinity Railway Express station, about five miles from the DFW airport.

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