Homebuilder layoffs rise — especially in Texas

Plus: Homebuyers Privacy Protection Act signed

September 09, 2025

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Today's newsletter is 606 words, a 2.5-minute read.

1. Trump signs Homebuyers Privacy Protection Act

On Friday, President Trump signed H.R. 2808, the Homebuyers Privacy Protection Act. The law bans abusive “trigger leads,” a practice where credit bureaus sell mortgage applicants’ data without consent, leading to floods of unwanted calls, texts, and messages.

This marks the biggest federal action yet against trigger leads and places strict new limits on how credit bureaus can sell this information. The law takes effect in 180 days.

The act will require consumers to opt-in to receive trigger leads or have an existing relationship with the entity requesting the information.

“It is not unusual for bank customers to receive 100+ misleading texts, phone calls, and emails within the first 24 hours of applying for a mortgage and the passage of this bill will go a long way in relieving this burden to homebuyers.”

Jim Nabors, President, National Association of Mortgage Brokers (NAMB)

2. Housing market reaches record $55.1 Trillion

According to Zillow, the U.S. housing market hit a record value of $55.1 trillion in June 2025 — up $20 trillion (57%) since early 2020.

Texas ranks among the metros with the biggest total gains since the pandemic, adding $1.2 trillion. But in the past year, it slipped by $32 billion.

The 100 largest metros, which hold 72% of national housing value, accounted for only 45% of the increase over the past year. More than half of the growth came from smaller markets, based on the report.

A MESSAGE FROM DAVE YOUR MORTGAGE GUY

A lot of people assume that owing the IRS means no mortgage but that’s simply not true.

I just dropped a video explaining exactly how buyers can still qualify even if they:

  • Owe back taxes

  • Are on a payment plan

  • Have active tax liens

This is also a must-know if you're working with business owners and before they file their taxes!

3. Catch up quick

💰 A $1.8B Powerball winning ticket, second-largest in US history, was purchased in Fredericksburg, Texas. (CBS)

🤔 City of Austin blasted over $1.1M rebrand. (Statesman)

⚠️ Unemployment rate near 4-year high of 4.3%. (BLS.gov)

🎨 The next big colors in home design. (Axios)

💸 Texarkana, Texas, will pay you to move there. (Newsweek)

4. Tiny homes coming to North Texas

Two-story tiny homes are now for sale in North Texas, as homebuilder Lennar rolls out its “Dream Collection” in Princeton, the fastest-growing city in the U.S.

Each unit is 661 square feet with one bedroom, two bathrooms, a loft, and a combined kitchen-living area. Prices start in the mid-$100,000s.

The homes are aimed at first-time buyers in a market with limited housing supply and little room for new development. Residents will also have access to a pool, playground, and community center.

5. Homebuilder layoffs rise — especially in Texas

The U.S. Bureau of Labor Statistics reports that residential building construction jobs have dropped by 3,800 (-0.4%) since the March 2025 high, while residential specialty trade contractor jobs are down 44,000 (-1.8%) from their September 2024 peak.

Layoffs are rising as the housing market cools, with Texas hit hardest. Builders are cutting staff and slowing new projects as unsold homes pile up and pricing power fades, especially in Sun Belt markets.

John Burns Research and Consulting: Share of homebuilders reporting layoffs among peers in their local housing market

Source: ResiClub

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