New homes now priced closer to existing homes

👋 Hello, Thursday.

Today’s newsletter is 504 words, a 2-minute read.

1. San Antonio has the highest rate of home-purchase cancellations

A new Redfin report shows that roughly 53,000 home-purchase agreements were canceled in October, representing 15.1% of all homes that went under contract that month—up from 14.3% a year earlier.

San Antonio leads the nation in canceled deals, with more than one in five (21%) pending home sales falling through in October.

2. Home sellers are getting creative with concessions

Home sellers looking to attract buyers in a slowing housing market are getting increasingly creative with the concessions they offer, according to a luxury real estate market report from The Agency.

In a survey of the firm’s brokers, more than 60% said they’re seeing sellers offer more concessions this year than last.

And these concessions go well beyond price cuts or traditional incentives like covering part of a buyer’s closing costs. Sellers are throwing in furnishings, pools, months of paid security staff, and other perks that don’t typically show up in standard market data.

A MESSAGE FROM ELITE TRADE CLUB

Stay ahead of the Market

Markets move fast. So should you.

Elite Trade Club’s 5-minute premarket alerts give you the real story and the stocks to watch—delivered before the bell.

Join 200K+ traders who start the day with an edge.

Get the Next Alert

3. Catch up quick

🎄 Austin is the No. 1 most festive city for 2025. (Thumbtack)

🛫 Houston to get first direct flight to Rome. (Aviator)

💸 Rising insurance costs are chipping away at home values. (NYTimes)

🌆 Brownsville ranked the worst city in America for singles. (WalletHub)

🏠 About 7% of new homes are teardowns. (NAHB)

4. New homes now priced closer to existing homes

Newly built homes are narrowing the gap with existing properties on both pricing and financing, according to new data from Realtor.com.

With affordability still challenging many buyers, builders are stepping up with incentives and pricing strategies that are making new construction a competitive and attractive option.

Realtor.com reports that the price premium for new construction has dropped to its lowest third-quarter level on record. At the same time, builder incentives have pushed mortgage rates for new-home buyers nearly a full percentage point lower than those for buyers of existing homes.

5. Report: Home prices to rise in 2026

Realtor.com projects that the national median sales price for existing homes will increase by 2.2% in 2026, while incomes are expected to grow 3.6%, offering a slight improvement in affordability for the typical family.

6. Uber launches autonomous vehicles in Dallas

Uber announced yesterday that Dallas riders can now be matched with an Avride robotaxi, introducing a brand-new way to ride with Uber.

The service covers a 9-square-mile area of Dallas—stretching from Downtown to Uptown, Turtle Creek, and Deep Ellum—with plans to expand the operating zone in the future.

For now, the autonomous vehicles will have an employee in the driver’s seat to monitor the route. Fully driverless rides will roll out later.

☀️ 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 35k+ Texas Realtors? Email [email protected]