Houston, DFW top the nation for active listings

⏰ It’s Thursday, and today we look at a homeowner offering an estate for Anthropic stock, plus the growing AI regulatory questions shaping real estate.

Today's newsletter is 542 words — a 2½-minute read.

1. Houston, DFW top the nation for active listings

According to a Homes.com report, Houston led the nation in active listings in March, reaching a record high of 40,710. The market ranked eighth nationally for year-over-year growth in listings at 14.2%, the highest among Texas metros. Dallas–Fort Worth followed closely with 36,111 active listings.

San Antonio was the only Texas market to post year-over-year growth in sales. It also recorded the smallest decline in median sale prices and the smallest increase in new listings among the four Texas markets tracked by Homes.com.

2. Housing starts jump 10.8% in March

Housing starts rose 10.8% in March to an annual pace of 1.5 million units, up from about 1.35 million in February, according to data released Wednesday by the Census Bureau. That’s the highest level since December 2024.

• Single-family starts climbed 8.9% YoY and 9.7% MoM to a seasonally adjusted annual rate of 1.03 million units.

• Multifamily starts also increased, rising 15.5% YoY and 13.3% MoM to a 470,000-unit annual pace.

Meanwhile, building permits, a leading indicator of future construction, fell to an annualized rate of 1.37 million, the lowest since August.

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3. Catch up quick

🚨 AI is a 'regulatory landmine' in real estate. (BizJournal)

➖ FHFA House Price Index unchanged in February. (FHFA)

⏸️ Fed leaves interest rates unchanged at Powell’s final meeting as chair. (CNBC)

🤖 A San Francisco homeowner is offering his 13-acre estate in exchange for Anthropic stock. (SFStandard)

👔 Keller Williams names its 1st-ever chief revenue officer. (KWRI)

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4. Homes.com fees for new members rising Friday

CoStar is raising the cost of joining Homes.com, citing strong returns for agents using the platform. CEO Andy Florance said the company analyzed 11,400 members and compared their commission earnings before and after joining.

Based on those results, CoStar said it will increase subscription fees for new customers starting Friday. The company also plans to evaluate potential renewal price increases but has not yet shared specific pricing details.

5. NAR sharply lowers 2026 forecast

The National Association of Realtors (NAR) has significantly revised its 2026 outlook downward. Existing-home sales growth is now projected at +4% (down from +14%), while new-home sales growth has been revised to 0% (down from +5%).

Dr. Yun, NAR’s Chief Economist, attributes the downgrade to ongoing affordability pressures and a slower-than-expected start to the year.

Other key revisions and latest data:

• Existing-home price growth: projected at +4% (unchanged)

• Existing-home sales (latest report): 3.98 million seasonally adjusted annual rate

• Month-over-month sales change: −3.6%

• Year-over-year sales change: −1%

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