Nearly 20% of newly built homes are selling at a discount

😅 Some news: It's Tuesday.

Today’s newsletter is 643 words, a 2.5-minute read.

1. Existing home sales drop to more than a 2-year low

According to the NAR, existing-home sales, including single-family homes, townhomes, condominiums, and co-ops, fell 8.4% in January to a seasonally adjusted annual rate of 3.91 million. That marks the lowest level since August 2024. Year over year, sales declined 4.4%.

Existing-home inventory totaled 1.2 million units in January, down 0.8% from December but up 3.4% compared to a year ago. At the current sales pace, that represents a 3.7-month supply.

Homes remained on the market for a median of 46 days in January, up from 39 days the previous month and 41 days in January 2025.

2. NEXA CEO Mike Kortas acquires FSBO.com

FSBO.com announced Thursday that it has been acquired by a new ownership group led by Mike Kortas, founder of NEXA Lending, along with Brad Rice, CEO of Homepie and Amerifund Home Loans.

The newly formed entity, FSBO Holdings LLC, plans to modernize the 20-year-old platform through AI integration and simplified contracts, aiming to make agent-free transactions easier and less intimidating for consumers.

Kortas described the acquisition as a long-term investment in consumer-driven real estate transactions. He emphasized that no layoffs are planned and that FSBO.com employees will remain with the company as it continues to operate independently.

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3. Catch up quick

🏙️ Why America’s wealthy trade city luxury for acres of Texas freedom. (Fox)

🚀 Brokerage leaders show confidence in the 2026 housing market. (Delta)

🏛️ HUD launches investigation of muslim-only community proposed in Texas. (HUD)

💹 Annual inflation cooled to 2.4% in January. (BLS.gov)

🏠 64% of single Americans struggle to afford housing. (Redfin)

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4. Nearly 20% of newly built homes are selling at a discount

According to a Realtor.com report, in Q4 2025, 19.3% of new-construction listings had price reductions, compared to 18% of existing homes. This marks the first time in recent history that new homes were more likely to carry discounts.

The trend suggests that homebuilders are adjusting prices faster than individual homeowners as the market shifts toward buyers. Many homeowners, in contrast, may be more inclined to delist their property rather than lower the price.

In Texas, 19% of new-construction homes and 17.5% of existing homes saw price cuts, compared to the national average of 18.3%.

5. All-cash home purchases ended 2025 at a 5-yr low

According to a report from Redfin, just under 3 in 10 (29%) U.S. homebuyers paid all cash in December, down from 30.3% a year earlier and marking the lowest December share since 2020.

Meanwhile, 14% of buyers who took out mortgages used FHA loans, the lowest December share in four years. The share of buyers using conventional and VA loans rose slightly.

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