Dallas leads Texas in ultra-luxury home sales

😎 Happy Thursday, Texas.

Today's newsletter is 504 words, a 2.5-minute read.

1. Ryan Schneider departs Anywhere after 8 years

Anywhere Real Estate CEO Ryan Schneider has departed the brokerage after eight years. The move, first reported by Inman, was reflected in Schneider’s LinkedIn profile, which shows he left the company in January.

The departure follows Compass’s September announcement that it would acquire Anywhere in a $1.6 billion all-stock deal and assume $2.6 billion in debt, valuing the transaction at roughly $4.2 billion.

Anywhere’s chief technology officer, Rudy Wolfs, also left the company following the transaction.

According to SEC filings from November 2025, Schneider was entitled to significant severance payments if terminated “without cause” or “for good reason” within two years of the merger.

2. Dallas leads Texas in ultra-luxury home sales

According to Compass’s ultra-luxury report, Dallas/Fort Worth led the state in sales dollar volume for homes listed above $10 million last year.

In 2025, 15 homes priced over $10 million sold in Dallas/Fort Worth, totaling more than $231 million in ultra-luxury sales. Houston came in second with 10 sales worth $121 million, while Austin was a distant third with two sales totaling about $25 million.

Nationally, homes priced at $10 million and above saw a sharp increase last year, with 2,261 deals totaling $38.63 billion.

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3. Catch up quick

🚨 D. E. Shaw slams CoStar's $3B bet on Homes.com. (MarketScreener)

👨🏾‍🤝‍👨🏼 Racial homeownership divide persists among younger Americans. (Redfin)

📚 Parents can start applying for Texas school vouchers. (Gov)

💰 44.6% of mortgaged homes were equity-rich. (Attom)

4. Apartment rents drop to lowest level in 4 years

According to Apartment List analysis, the national median rent in January fell to $1,353, a 1.4% drop year over year, the largest annual decline since September 2023, and the lowest January rent since 2022.

The national vacancy rate hit 7.3% in January, a record high on Apartment List’s index, which dates back to 2017. Units are also taking an average of 41 days to lease, four days longer than in January 2025, marking another high for the index.

Among the nation’s large rental markets, Austin saw the steepest annual decline, with median rents down 6.3%.

5. Dallas led the nation in multifamily unit growth

According to a new Redfin report, large apartment buildings overtook single-family homes in the nation’s rental market, and Dallas led the way.

From 2014 to 2024, units in large multifamily buildings in Dallas rose from 29.2% to 46.3% of the city’s rental inventory, the largest increase among the nation’s top 50 metropolitan areas.

Nationally, about one in three (33.1%) renter-occupied units was in a large multifamily building, the highest share on record since 2011. By comparison, 31% of rentals were single-family homes, the lowest share ever recorded.

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