Homebuyers are getting the largest fall discounts since 2019

🌞 Hello this fine Tuesday.

Today's newsletter is 752 words, a 3.5-minute read.

1. Homebuyers are getting the largest fall discounts since 2019

In September, the average home sold for 1.4% below its final listing price — up from 0.9% a year ago — marking the largest September discount in six years, according to a Redfin report released Monday.

Only 25.3% of homes sold last month went for more than their asking price, down from 28.5% a year earlier — also the lowest September share since 2019.

Homes are also taking longer to sell. The average time on market hit 50 days, the slowest September pace since 2016.

DiveDeeper

2. Supreme Court declines to hear lawsuit over listings display

The Supreme Court on Monday declined to revive a lawsuit by the now-defunct real estate brokerage Real Estate Exchange Inc. (REX), which had accused Zillow and the National Association of Realtors (NAR) of conspiring to suppress competition in the online home listings market.

The justices rejected an appeal from REX, which challenged a lower court’s ruling that it failed to prove Zillow conspired with NAR to make REX’s listings harder to find on Zillow’s platform.

REX filed the lawsuit in 2021, targeting NAR’s “no-commingling” rule, which allows Zillow and other members to display homes from multiple listing services (MLS) separately from other properties. REX argued that the rule unfairly limited consumer choice.

A MESSAGE FROM DAVE YOUR MORTGAGE GUY

What Are Asset Depletion Mortgages?

You may hear this term come up, Asset Depletion when it comes to mortgages. In this video I go over what it is, how the client with lots of assets but not income can still get approved. Tune in for everything to know and my Mortgage Hack that could save almost any deal!

P.S. The example I currently have is that the client has lots of assets(savings, retirement accounts, etc) and wanted to move and buy a home before they found a job!

3. Catch up quick

🚀 Kaufman County among America’s fastest-growing housing markets. (ResiClub)

🕵️‍♂️ Feds bust real estate execs in $25.9M scheme. (DOJ)

🚨 HUD reportedly fires all its building inspectors. (Bloomberg)

🐶 San Antonio to launch pet deposit aid for inner-city renters. (ExpressNews)

💸 Housing affordability is a major concern for Gen Z. (Realtor.com)

🎨 The home paint color that represents the epitome of quiet luxury. (Realtor.com)

😊 82% of Americans say neighbors matter as much as price & location. (AnytimeEstimate)

A MESSAGE FROM THE DAILY UPSIDE

Wall Street’s Morning Edge.

Investing isn’t about chasing headlines — it’s about clarity. In a world of hype and hot takes, The Daily Upside delivers real value: sharp, trustworthy insights on markets, business, and the economy, written by former bankers and seasoned financial journalists.

That’s why over 1 million investors — from Wall Street pros to Main Street portfolio managers — start their day with The Daily Upside.

Invest better. Read The Daily Upside.

Subscribe free today.

4. LendingTree: January is the best month to buy

LendingTree research shows January is the best month to buy a home, with prices about 8% lower than May, saving buyers roughly $23,000 on a 1,500sqft house.

The slow sales pace and reduced competition make sellers more willing to negotiate. Homes listed in January sit on the market a median of 75 days, compared to 48 days in spring.

Inventory is thinner in winter, but motivated sellers and fewer bidding wars create better deals, especially for first-time buyers not tied to selling an existing home.

5. Zillow removes Matterport 3D home tours from its sites

Zillow announced Monday that it has removed Matterport 3D tours from all listings on both Zillow and StreetEasy.

The move follows CoStar’s decision not to renew its Matterport API agreement with Zillow and to update its terms of service to restrict the use of Matterport 3D virtual tours.

In an email sent Monday morning, StreetEasy informed its partners that Matterport 3D tours had been removed, adding that listings would otherwise be unaffected.

According to CoStar’s website, its terms and conditions prohibit the use or display of its content — including Matterport virtual tours — on “any third-party platforms, websites, or listing services that compete with CoStar Group’s products and services.”

6. List: Bargain vacation spots in Texas

Nine Texas cities ranked among the nation’s 30 most budget-friendly vacation spots, giving the Lone Star State the most cities on the list.

Brownsville led the charge for Texas at No. 5 nationally with an average vacation cost of $1,336. Pearland and McAllen also cracked the top 10, ranking at Nos. 8 and 9, with average vacation costs of $1,362 and $1,405, respectively

The survey ranked cities across the country based on multiple criteria, factoring in total costs for meals, drinks, lodging, and airfare.

☀️ 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]