Texas down payments fell 16.5% in Q4 2024

Plus: Most home sellers still rely on agents

April 10, 2025

☀️ Good Morning! Today, we are looking at how most home sellers still rely on agents, dropping Texas down payments, Trump’s tariff pause, and more.

Today's newsletter is 570 words — a 2.5-minute read.

1. Most home sellers still rely on agents, but trust in them has declined

A new report from Clever Real Estate reveals that while most American home sellers still plan to work with real estate agents in 2025, concerns about trust, commission fees, and agent value are reshaping expectations among those entering the housing market.

A survey of 1,000 homeowners planning to sell within the next year found that:

  1. Roughly 90% of home sellers believe it's important to have a real estate agent involved in the process.

  2. 63% of sellers consider agents inherently necessary to the home-selling process.

  3. 91% plan to use an agent, but only 70% say they trust them.

  4. 1 in 7 (14%) say nothing would justify a higher-than-average commission rate.

  5. Even among those planning to use agents, only 70% say they trust them—a drop from 81% the previous year, according to the report.

2. Texas down payments fell 16.5% in Q4 2024

According to a report by Realtor.com, homebuyers made the largest down payments on record, both in dollar amount and as a percentage of the home price. Down payments reached 14.4% and $30,250 nationally in Q4 2024.

  • However, only 8 out of 50 states saw down payments decline. Texas topped the list, with average down payments dropping by 16.5% year-over-year.

Source: Realtor.com

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3. Catch up quick

🏛️ Texas Attorney General Ken Paxton is running for U.S. Senate. (Reuters)

🛑 Trump pauses reciprocal tariffs for 90 days for everyone but China. (TruthSocial)

🏡 Texas is among the states where middle-class Americans can afford an average-priced home. (Realtor.com)

❌ Fannie Mae lays off 100 workers citing unethical conduct. (FHFA)

🤝 HomeServices strikes deal with Zillow to provide listing tools to agents. (Zacks)

🐺 Fun read: Dallas-based Colossal announces rebirth of once-extinct dire wolf. (CNN)

4. 68% of condos sold below list price in February

According to a report from Redfin, roughly two-thirds (68.4%) of condos sold in February went for less than their original asking price, up from 63.3% a year earlier and the highest February level in five years.

The share of townhouses selling below their original asking price reached the highest February level in five years, rising to 59.4% from 54.7% a year earlier.

Similarly, the share of single-family homes selling for less than list price hit a two-year February high, climbing to 64.2% from 61.2%.

5. Gary Keller seeks to punish former KW CEO John Davis over “baseless claims“

Keller Williams co-founder Gary Keller is asking a federal court to sanction former CEO John Davis for what he describes as 'baseless attacks' against him, his family, and the company.

In a recent court filing, Keller seeks to have Davis held in contempt, remove a controversial document from the public record, and compel Davis to pay legal fees.

The disputed document alleges misconduct and financial impropriety involving Keller's son, company executives, and Keller himself. Keller Williams denies the claims, calling them false and part of Davis's smear campaign.

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