Corpus Christi is Texas’ most overpriced housing market

🎉 Happy Tuesday to all!

Today’s newsletter is 691 words—a 2.5-minute read.

1. Corpus Christi is Texas’ most overpriced housing market

A MoneyLion analysis shows the average home value is about $367,000, while the median list price is around $400,000—a difference of roughly 9%. In some cities, however, the gap is much larger, with homes listed up to 60% above their estimated value.

The report found a six-figure difference between home values and listing prices in seven major housing markets. Texas stands out, with 11 of the 50 most overpriced cities in the ranking.

• Corpus Christi ranks as the third-most overpriced city in the U.S. and the highest in Texas. The average single-family home is valued at about $220,500, while the median listing price is $318,666—almost $100,000 higher, a gap of 44.5%.

Other Texas cities on the list include Brownsville (#4), Longview (#5), McAllen (#8), Tyler (#10), El Paso (#17), Waco (#24), Amarillo (#29), Beaumont (#41), Laredo (#44), and San Antonio (#47).

2. CoStar is buying Zonda for $800M

On Friday, CoStar announced that it had entered into a definitive agreement to acquire Zonda for $800 million in cash from private equity firm MidOcean Partners.

The acquisition gives CoStar access to Zonda's builder-focused data platform, which serves more than 3,000 customers. It also adds Zonda's consumer-facing marketplaces, including NewHomeSource and Livabl, which specialize in marketing newly built homes.

A MESSAGE FROM DAVE YOUR MORTGAGE GUY

The Truth on Rocket’s Down Payment Assistance

Rocket gives buyers 3%.
Then charges them 2% to get it.
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• 4% of the sales price.

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3. Catch up quick

🤝 Berkshire Hathaway acquires Taylor Morrison in $8.5 Billion housing bet. (CNBC)

🏡 Houston tops the list of buyer's markets heading into summer. (Realtor.com)

📱 Google’s new AI search capabilities can hunt for homes 24/7. (Google)

🚫 Home purchase loans plunge to 12-year low. (Realtor.com)

📉 New home sales plummet to the lowest level in four years. (Census)

4. Investor purchases hit 6-year low

According to a Redfin report, in Q1 2026, investor home purchases totaled 45,397, down 6% from a year earlier and reaching their lowest level since 2020. The last time investors bought so few homes was in 2016.

Investors accounted for 19% (about 1 in 5 homes) of all home purchases in Q1, down slightly from 20% a year ago. They held 7.8% of all homes for sale, the smallest share since 2021.

Purchases of lower-priced homes fell 10%, compared to a 6% decline in mid-priced homes and a 1% decline in higher-priced homes.

5. Existing home prices outpace new homes

According to the National Association of Home Builders (NAHB), in Q1 2026 the median price for a new home was $403,200, about $1,400 less than the median price of an existing home. This marks the fourth consecutive quarter in which existing homes have been more expensive than new homes.

Key takeaways:

• New-home prices fell 4.7% year over year, while existing-home prices rose 0.6%.

• In the South, the median new-home price was $361,800, the lowest among all regions.

• Existing-home price growth has slowed significantly, from a peak of 4.9% two years ago to just 0.6% in Q1 2026.

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