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- Porter/New Caney rank as Houston's 'hottest' areas
Porter/New Caney rank as Houston's 'hottest' areas
Plus: eXp toolkit prepares sellers and agents
👋 Good morning! This is Texas Real Estate News, the newsletter that delivers the freshest news and insights from the real estate industry. Let’s go!
Today's newsletter is 591 words — a 2.5-minute read.
1. Buyer agent commissions down to 2.55% since the NAR settlement
The typical U.S. home seller pays a 2.55% commission to the real estate agent hired by their buyer, down from an average of 2.62% in January, according to a Redfin analysis of MLS data.
Redfin reported that the average percentage of commission paid to buyers’ agents has gradually fallen since the NAR settlement was announced.
Redfin agents are reporting that commissions have been top of mind for clients since the NAR settlement was announced, and some sellers are asking about what it would mean to offer no commission or a relatively low one.
2. Porter/New Caney ranks among Houston's 'hottest' areas for home sales
A new report from the Houston Association of Realtors (HAR) looked at the top 10 “hottest” selling communities last quarter, ranking them by the percentage growth in year-over-year sales.
In nine of the 10 communities, average home prices are less than the overall Houston average, which was $432,090 in June.
The Porter/New Caney West community had the biggest percentage increase in sales across the Houston region last quarter. The number of sales rose 140.5% to 392 in Q2 compared with the same period last year. LINK
A MESSAGE FROM DAVE YOUR MORTGAGE GUY
I recently wrote a book on Navigating Homeownership during a Divorce. This is not an easy topic but one your client wants to be ahead of and prepared for.
In the book I go over qualifying for buying a new home, all refinance options, Owelty Liens, cash-out loans, and more!
3. Catch up quick
📚 eXp toolkit prepares sellers and agents for practice changes. (eXp)
🚀 FAA clears hurdle for drone delivery in the Dallas area. (WFAA)
🔌 CenterPoint withdraws its request to increase customers' electricity rate. (Chron)
🗳️ 60% of prospective buyers say the upcoming presidential election is influencing their homebuying plans. (VeteransUnited)
🏘️ Texas has 2nd highest number of affluent households in the U.S. (SmartAsset)
🍴 Fun read: Sha’Carri Richardson reveals her favorite Dallas spots. (Axios)
4. Round Rock city program helps fix house issues for low-income homeowners
The City of Round Rock approved spending nearly a third of its Community Development Block Grant (CDBG) money on its Home Repair program.
The city will receive $642,233 this year from the federal government and here’s a breakdown of how this money will be spent:
Greenhill Park Improvements – $240,000
Home Repair Program – $177,453
CDBG Program Administration – $128,446
Round Rock Area Serving Center Food Pantry – $30,000
Round Rock Area Serving Center Housing Assistance – $30,000
Child Advocacy – $20,000
Meals on Wheels Program – $16,334
5. Texas to remain among the youngest states through 2100, report finds
Texas is projected to remain one of the youngest states in the U.S. throughout the 21st century, according to a new report by BizInsure.
22.4% of Texas's population will be 65+ in 2100.
Future projection of the population aged 65 and older built on the foundational work of the Weldon Cooper Center for Public Service at the University of Virginia
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