Existing home sales hit a 7-month high

👋 Welcome to the first Tuesday of the rest of your life.

Today's newsletter is 763 words, a 3.5-minute read.

1. Existing home sales hit a 7-month high

According to a report from the National Association of Realtors (NAR), existing home sales rose 1.5% last month to a seasonally adjusted annual rate of 4.06 million units, the highest level since February. On a year-over-year basis, sales were up 4.1%.

Home resales increased in the Northeast, South, and West, but declined in the Midwest.

Key highlights from September:

• Total housing inventory reached 1.55 million units, up 1.3% from August and 14.0% higher than in September 2024 (1.36 million).

• The supply of unsold homes held steady at 4.6 months, unchanged from August but up from 4.2 months a year ago.

• The median existing-home price for all housing types rose to $415,200, up 2.1% from one year ago ($406,700).

• This marks the 27th consecutive month of year-over-year price gains.

2. Housing crash fears are overblown, experts see prices rising

More than 100 housing experts surveyed in Fannie Mae’s Home Price Expectations Survey expect national home prices to rise about 15% through 2029. The most optimistic forecasts predict gains of up to 26%, while even the most conservative expect roughly 5% growth.

Annual appreciation is projected to stabilize between 2% and 3.5%, slightly below the 25-year average of 4–5%. That points to a return to more sustainable growth after the pandemic-era surges of 15–20%.

Analysts say persistent housing shortages and steady buyer demand are key reasons a 2008-style crash is unlikely, even with ongoing affordability challenges.

A MESSAGE FROM DAVE YOUR MORTGAGE GUY

Want to close more deals without chasing more leads?

Help the buyers you already have get approved faster and offer stronger with my in-house Bridge Loan program.

In my new video, I share 10 ways we’re using it to:

📌 Eliminate contingencies
📌 Buy before selling
📌 Get through financing hurdles (divorce, job change, etc)
📌 Win in multiple-offer scenarios

🧠 Many Lenders Offer Bridge Loans including Rocket. But no one does them like me!

Have a scenario? Hit me up and lets structure it together!

P.S. Have a client ready to apply, here is the link!

3. Catch up quick

🕰️ NAR calls for response on impact of government shutdown. (NAR)

🚧 Mapped: 15 huge development projects in Collin County. (BizJournals)

😀 Home-selling methods that leave sellers the happiest. (Clever)

💀 65% of Americans would consider buying a haunted home. (Rocket)

🚀 Best housing stocks of 2025. (TheMotleyFool)

👻 Airbnb cracks down on Halloween parties. (Airbnb)

A MESSAGE FROM MONEY.COM

Sticking with the same home insurance could cost you

Home insurance costs are rising fast, up nearly 40% nationwide in just the past few years. With premiums changing constantly, sticking with the same provider could mean overpaying by hundreds of dollars. Shopping around and comparing multiple insurers can help lock in better rates without losing the protection your home needs. Check out Money’s home insurance tool to shop around and see if you can save.

Shop around

4. Single-family rent growth sinks to 15-year low

Single-family rents rose just 1.4% year-over-year in August, the weakest gain since 2010, according to Cotality. That’s down from 2.3% in July and well below last year’s 3% average.

Dallas saw the sharpest rent decline in the nation, with prices falling 0.6% as a surge of new apartment supply hit the market.

Meanwhile, multifamily vacancies reached a record 7.1% in September, while the national median rent dropped to $1,394, about $48 below its 2022 peak, though still 22% higher than in early 2021.

5. McAllen tops Texas as the cheapest city to rent an apartment

According to a Zillow ranking, McAllen is the only major metro area in Texas where more than half of all apartments are listed for under $1,000 per month.

While no other Texas metro comes close to McAllen’s affordability, renters can still find good deals elsewhere in the state. In El Paso, about 38.5% of apartments are listed at $1,000 or less, compared to 23.5% in San Antonio.

Nationwide, 13 of the 100 largest metros have more than one-third of apartments renting for less than $1,000 per month.

6. Austin is home to one of the world's coolest neighborhoods

Hospitality brand Time Out has released its annual ranking of “the coolest pockets of the world’s greatest cities.” The list is compiled by Time Out’s network of writers and editors, who nominate the “vibiest” districts in their hometowns.

Landing at No. 33 this year is Austin’s Clarksville — a charming historic district just west of downtown and the only Texas neighborhood to make the list.

Time Out praised Clarksville for its unique mix of classic, multi-million-dollar cottages shaded by live oaks and a growing scene of local boutiques, restaurants, and new bars.

☀️ Thank you for starting your day with us!

If you like this newsletter, your friends may too. Forward it to a friend, and let them know they can subscribe here.

Interested in advertising to 50k+ Texas Realtors? Email [email protected]