New home sales fall to seven-month low

Plus: Saving for a home in TX takes nearly 4yrs

June 26, 2025

🌦️ Top of the morning! Today's newsletter is 609 words — a 2.5-minute read. Let’s go…

1. New home sales fall to seven-month low in May

According to a report released Wednesday by the Commerce Department, sales of new single-family homes fell by the most in nearly three years in May, raising the inventory of unsold homes to its highest level since late 2007.

Here’s a breakdown of the key takeaways:

  • New home sales dropped 13.7% to a seasonally adjusted annualized rate of 623,000 units in May, a seven-month low. The decrease was the biggest since June 2022.

  • April's sales pace was revised down to a rate of 722,000 units from the previously reported 743,000 units.

2. Texas leads the nation in job creation

Texas created more jobs than any other state over the past year, adding 213,300 positions from May 2024 to May 2025. Governor Greg Abbott announced the achievement on Tuesday, citing new federal employment data.

Texas also led the nation in monthly job creation in May, adding 28,100 positions and surpassing the national average growth rate.

“Texas again leads the nation for the most jobs created over the last 12 months. Working with the Texas Legislature, we had the most successful legislative session that furthered pro-growth policies. The policies I signed into law mean more paychecks and more opportunities for Texas families to thrive.”

Texas Governor Greg Abbott

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3. Catch up quick

🔄 Trump initiates a plan to install a shadow Fed president. (Reuters)

⚠️ KB Home: Homebuyers risk finding themselves 'upside-down' if they overpay for builder incentives. (ResiClub)

✅ 15 commission lawsuit settlements gain final approval. (HousingWire)

🚀 Rocket launches bridge loan to help homeowners buy now, sell later. (NMP)

🏡 Austin offers the biggest price cuts and the fastest-growing inventory in Texas. (Realtor.com)

⚖️ DOJ ends civil rights investigation of EPIC City development. (DallasNews)

🧭 Compass launches new division aimed at helping seniors. (HousingWire)

📈 Fun read: Who’s driving perfume sales? (TheHustle)

4. Opendoor expands agent platform to connect sellers with top agents

Opendoor yesterday announced the expansion of its agent platform, Opendoor Key Agent, with the launch of Key Connections—a new offering that directly connects a network of select partner agents with high-intent sellers in their market.

This evolution positions Opendoor to reach and support more sellers, increase flexibility in its go-to-market strategy, and create new revenue streams.

In a recent survey by Opendoor of real estate agents, more than half (56%) said that getting clients was one of the hardest parts of their job.

5. Charted: Saving for a home in TX takes nearly 4yrs

According to a new study by Leave The Key Homebuyers, in Texas, it takes the average resident 3 years and 10 months to save for a home, making it one of the more affordable states for homeownership.

How long does it take to save for a home in each state?

Source: Leave The Key Homebuyers via Realtor.com

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