Main Square Development plans 2,400+ homes for Terrell

🪄 And just like that, it's Thursday. Today's newsletter is 581 words — a 2.5-minute read. Let’s go…

1. Landlords can now sue the government over unpaid pandemic rent

A federal appeals court ruled Friday that the government must face potentially billions of dollars in legal claims over a temporary ban on residential evictions during the COVID-19 pandemic, which affected millions of landlords.

In a 7-3 decision, the U.S. Court of Appeals for the Federal Circuit rejected the government's bid to overturn a decision by a panel of judges last year that refused to dismiss claims from landlords seeking compensation over the eviction moratorium.

The NAR, which was not a party to the lawsuit, called the appeals court's Friday order "another important win for property rights."

2. Consumer housing sentiment hits 2025 high point

According to Fannie Mae, consumer sentiment toward the housing market improved in May, reaching its highest level since November 2024.

The Home Purchase Sentiment Index (HPSI) rose by 4.3 points to 73.5 in May, driven by increased optimism about home buying and selling conditions, as well as expectations that mortgage rates may fall in the coming year. While the index remains below its pre-pandemic highs, it is recovering from the all-time low of 56.7 recorded in October 2022.

Based on the report, 26% of consumers believe it's a good time to buy a home, up from 23% in April and nearly double the 14% who felt the same at this time last year.

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3. Catch up quick

📨 2.5M+ people have made commission settlement claims. (Inman)

🚪 CFPB enforcement director Cara Petersen quits saying agency ‘under attack’. (CNN)

📈 Lubbock tops metros with the largest quarterly increases in refinance mortgage originations for Q1. (ATTOM)

⚖️ Former CFO sues Real Brokerage over pregnancy discrimination. (HousingWire)

🎉 Secretary Scott Turner celebrates National Homeownership Month 2025. (HUD)

🤔 Fun read: What will happen when the US stops minting pennies? (TheHustle)

4. Investors are selling a record share of homes

A new report from Realtor.com shows investor sellers made up a record 10.8% of home sales in 2024, the highest share since data tracking began, while investor buyers accounted for 13%. Here are some key highlights from the report:

• Small investors drove the trend, making up 59.2% of investor purchases and buying 361,900 homes.

• Cash purchases fell to 62.0% for small investors and 68.9% for large investors—the lowest levels since 2008 and 2015, respectively.

• The gap between investor purchases and sales is now at its smallest since 2019.

5. Main Square Development plans 2,400+ homes for Terrell

Main Square Development plans to build a 1,531-acre master-planned community in Terrell, called Terra Nova. The development will include approximately 2,400 detached homes, 270 attached units, around 1,200 multifamily units, 112 acres of commercial space, and 145 acres of parks and trails.

Lots will be at least 50 ft wide and will average around $110,000. Home prices will start at approximately $400,000 and go up to about $1.2 million, according to Hugo Morales, president of Plano-based Main Square.

Construction on the first phase of the project could begin later this year and will focus on the residential portion of the development. The community is expected to be built out over 14 to 16 phases.

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