Home sales in March fell 5.9%, biggest drop since 2022

👋 Welcome to Tuesday! We'll talk about home sale profits and figures, the cities with the largest price increases and decreases, and the NFL Draft.

Today's newsletter is 628 words — a 2.5-minute read.

1. $1.3B development slated for McKinney

Dallas-based developer Creation Equity plans to begin construction this year on a $1.3 billion mixed-use development in McKinney.

The 155-acre Long Branch project will be located at the northwest corner of US 75 and the future 380 bypass.

• Plans include 1,600 apartments, a 318,600-square-foot office campus with two six-story buildings, a 100-room hotel, and 135,000 square feet of retail space anchored by a 65,000-square-foot grocery store.

• The development will also feature about one mile of pedestrian trails and six acres of green space.

2. Home sale profits dipped to 50% in Q1 2025

Homeowners, on average, made a 50.2% profit selling single-family homes and condos during the first quarter, according to new data from ATTOM. This is a decline of 3.2% points from the previous quarter and a drop of 4.8% points from Q1 2024.

The median raw profit that sellers made on their homes dropped by roughly 4%, from $124,000 in Q4 2024 to $119,000 in Q1 2025.

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3. Catch up quick

💼 RE/MAX hires Daniel Dennis as SVP of sales and service. (RE/MAX)

📉 Real estate investor confidence drops to a record low. (RCNCapital)

👑 Eight Texas cities were ranked among the top 100 best places to live. (Livability)

⚖️ Compass sues Northwest MLS, pulling Windermere along for a ride. (Inman)

 🏈 Fun read: 12 Texas Longhorns were selected in the 2025 NFL draft. (TXLonghorns)

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4. Home sales in March fell 5.9%, biggest drop since 2022

Existing-home sales fell 5.9% in March from February to a seasonally adjusted annual rate of 4.02 million, the NAR said Thursday. That marked the biggest month-over-month decline since November 2022. It was also the slowest sales pace for any March since 2009, which was near the peak of the financial crisis.

Sales were 2.4% lower than in March 2024 and slumped across all regions month to month.

Existing home sales, change from a month earlier

5. San Antonio saw the fastest fall in home prices

Nationwide, home prices rose 2.1% year over year, the slowest growth rate since July 2023, according to Redfin. During the four weeks ending April 20th, the median home-sale price declined year-over-year in 11 of the 50 largest U.S. metro areas. The last time that many markets saw annual price declines was in September 2023.

Here are the top five metros with the largest year-over-year price increases and decreases:

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