Texas housing inventory jumps 40%

🌇 Good morning and welcome back. On this day 1895, actress Florence Vidor Arto was born in Houston.

Today's newsletter is 570 words — a 2-minute read.

1. Texas housing inventory jumps 40%, but prices stay flat

According to a Q2 2024 report from Texas Realtors, the number of active listings from April to June of this year was up 40.8% compared to the same period last year.

Months of supply increased from 3.1 months in Q2 2023 to 4.6 months in Q2 2024.

Despite the rise in supply, the statewide median home price remained flat. In Q2 2024 the median price was $405,000 while in Q2 2023 it was $410,000.

2. San Antonio zoning commission votes against industrial zoning proposal near Toyota plant

On Tuesday, the zoning commission heard from residents and the city about the new zone which would cover nearly 31 square miles and 2,843 individual properties, most currently zoned for residential use.

The proposed “Industrial Compatibility Overlay District” (ICOD) would be the first of its kind in the city. It would heavily restrict commercial and residential development around Toyota.

While people could remain in their existing homes, the construction of new houses would generally not be allowed as:

• The area within a mile of the Toyota plant would be used for industrial purposes.

• The area between one and two miles out would be used for commercial or industrial development.

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3. Catch up quick

🏊‍♂️ Share of Denver home listings with a swimming pool. (Axios)

📊 New residential construction statistics for June 2024. (Census)

🛫 Survey finds over half of Houston residents think of leaving. (HPM)

💵 West Austin's Travis Club sells $90M in homesites. (ClubResort)

💯 Downtown Fort Worth gets first residential high-rise in decades. (WFAA)

4. Hillwood embarks on a 3,200-acre property mixed-use project near Denton

Hillwood will break ground this September on home lots at Landmark, a 3,200-acre property at Interstate 35W and Robson Ranch Rd.

Plans call for roughly 6,000 single-family homes, more than five million sf of mixed-use space, and roughly 3,000 multifamily units with 747 single-family lots scheduled for the opening phase.

Home models are slated to open in spring 2026 with commercial planning and leasing underway.

5. Coppell and Cinco Ranch make it to the top 10 best suburbs in the U.S

Cinco Ranch, a master-planned community in Katy, has been declared the second-best suburb to live in America, according to a recent report by Travel + Leisure.

The only other Texas suburb to earn a spot in the report was Coppell (No. 5), which is located 22 miles northwest of Dallas.

The rankings focused specifically on affordable housing, top-rated schools, and job opportunities.

6. HUD awards Fort Worth $5 million to improve housing affordability

HUD has awarded Fort Worth $5 million to expand housing supply and lower housing costs. The city will use the funds to build and redevelop affordable housing in underserved and historically challenged areas.

The HUD award will also allow the city to develop a neighborhood pattern book of pre-approved plans for infill housing. The book will help reduce the cost of architectural services and building permitting for developers.

The city will also create a Unified Development Ordinance to coordinate land use regulations and implement policies that incentivize housing affordability.

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