SpaceX continues to push to make Starbase a South Texas city

 🎉 Without further ado, it's Tuesday.

Today's newsletter is 598 words — a 2.5-minute read.

1. Fix-and-flip profits declined in Q3 2024

Fix-and-flip investors took a hit in the third quarter of 2024, as flipped properties accounted for a smaller share of home sales compared to the previous quarter, according to an Attom report released last week.

• Short-term real estate investors saw a return on investment (ROI) of 28.7%, down from 31.2% in Q2 2024.

• From July through September, 74,618 single-family homes and condos were flipped, representing 7.2% of all home sales—down 40 basis points (bps) from the previous quarter.

• Investor profits declined during the same time frame and now stand at roughly half of the mid-50% market peak seen in 2016.

2. Bank of America makes its 2025 housing market predictions

Home prices are expected to continue rising next year, though at a slower pace than this year, according to Bank of America's forecast.

The investment bank's mortgage-backed securities (MBS) research team told ResiClub it is forecasting a 2% increase in home prices in 2025, down from its previous 4.7% forecast issued in June.

Where Bank of America expects home prices to be in 2025

A MESSAGE FROM DAVE YOUR MORTGAGE GUY

I bought my first home at 23.

In this video, I breakdown how to prepare to buy your first home at 23 or even 53!

And watch to the end for when I go over the one mistake I made…

3. Catch up quick

🚀 SpaceX continues to push to make Starbase a South Texas city. (MySA)

🆘 TikTok turns to Supreme Court in a last-ditch bid to avert ban. (Reuters)

🏢 New apartments fill up slower, returning to pre-pandemic speeds. (Redfin)

🏡 Why does America have so many big houses? (theHUSTLE)

🏡 Pandemic-era buyers show the most willingness to sell. (BrightMLS)

🚨 First American unveils real-time fraud alert system. (businesswire)

🎄 Fun read: Texas’ most popular Christmas song is also one of the most hated. (etsn)

4. DOJ to Supreme Court: We never agreed to 'not reopen' the NAR investigation

The Department of Justice (DOJ) is contesting the National Association of Realtors' (NAR) claim that its 2020 settlement, which ended an investigation into NAR’s policies, was a binding agreement preventing future investigations.

NAR argues that the DOJ agreed not to reopen the investigation, but the DOJ maintains it never made such a commitment. The dispute centers around NAR’s policies, including the Clear Cooperation Policy, which the DOJ may revisit.

The case escalated to the Supreme Court after an appeals court sided with the DOJ.

5. San Antonio, New Braunfels listed on NAR's 2025 list of hottest housing markets

The National Association of Realtors (NAR) predicts that San Antonio and New Braunfels will continue experiencing a population boom heading into 2025. Both cities have been named housing hot spots for next year.

Here are the top 10 housing hot spots for 2025, listed alphabetically:

• Boston-Cambridge-Newton, MA-NH

• Charlotte-Concord-Gastonia, NC-SC

• Grand Rapids-Kentwood, MI

• Greenville-Anderson, SC

• Hartford-East-Hartford-Middletown, CT

• Indianapolis-Carmel-Anderson, IN

• Kansas City, MO-KS

• Knoxville, TN

• Phoenix-Mesa-Chandler, AZ

• San Antonio-New Braunfels, TX

A MESSAGE FROM ROKU

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