Sellers cut prices at the highest September rate

👋 Hello October! Today's newsletter is 727 words — a 2.5-minute read.

1. CertifID acquires Closinglock to fight real estate fraud

Austin-based real estate technology companies CertifID and Closinglock are joining forces after CertifID acquired Closinglock in a deal with undisclosed financial terms. The combination brings together fraud prevention, identity verification, secure payments and closing technology.

There will be no immediate changes for customers. Both companies said clients can continue using their existing products and integrations, while the combined company handles product integration internally.

The combined company will have about 220 employees, serve more than 3,000 title companies and 35,000 title professionals, and expects to protect 2.5 million transactions this year. The companies have collectively moved more than $7 billion in real estate payments, highlighting the growing role of technology in securing closings.

2. Sellers cut prices at the highest September rate

More than 1 in 5 home sellers cut their asking price in September. Redfin found 21.1% of sellers reduced prices in the four weeks ending Sept. 20 — up from 19.8% a year earlier and the highest share for that time of year in its records. A separate Realtor.com report put the national price-cut rate at 20.8%, the highest September level since 2018.

Price drops were especially common in Texas. San Antonio led the state and ranked third nationally at 26.8%, followed by Dallas (26.6%, fourth nationally) and Austin (26.1%, fifth nationally) — all three among the nation's strongest buyer's markets, with more than twice as many sellers as buyers.

The trend reflects a market where buyers have more negotiating power as borrowing costs remain elevated. Thirty-six of the 50 largest metros had higher price-cut rates than a year earlier, while the national delisting rate held at 5.6%.

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3. Catch up quick

📈 Cities driving apartment permitting growth. (RealPage)

🏗️ Morgan Stanley to invest $684 million in new Dallas regional hub. (CBSNews)

😟 Consumer confidence fell sharply in September. (ConferenceBoard)

🏠 Homeowners with mortgages now hold $17.9 trillion in home equity. (Cotality)

🚫 CRMLS rejects Compass push to keep listings off the MLS. (Morningstar)

4. New homes now cost less than existing ones

New homes now sell for less per square foot than existing homes nationwide — $205 vs. $212 as of July 2026, according to a Zillow analysis. That's a reversal from 2018-2024, when new construction carried a premium in 77 of 84 months, peaking at $25/sq ft above resale in late 2022.

Here are other key takeaways:

• The gap has flipped for 17 of the past 19 months, with the steepest discount hitting $12/sq ft in June.

• Median new-home sale price sits at $393,700, near a five-year low, versus $429,100 for existing homes per NAR.

• Builders are cutting prices to move standing spec inventory, with new-home supply at 9.6 months as of July — up from 7.6 months two years ago.

• Renting remains cheaper than buying by $1,066/month.

• The discount is concentrated in Sun Belt markets that overbuilt during the pandemic, with Austin leading ($184 new vs. $228 existing).

• Nationally, new construction's share of sales has normalized to 12.6% — matching 2019 levels after peaking at 16.7% in 2023 — with Texas markets driving most of the share gains since 2019.

5. Home maintenance startup Casa launches in Austin

Home maintenance startup Casa, created by two ex-Uber execs, has launched in Austin, offering homeowners a $199 monthly membership that puts routine upkeep and handyman services on autopilot. The service includes 90 minutes of handyman work each month, with unused time rolling over and additional work priced at $50 an hour.

Casa creates a digital inventory of each home, including appliances, serial numbers, paint colors and other details, then uses the information to schedule maintenance and coordinate repairs. The company also uses AI to process homeowner requests and offers recurring plans for tasks such as replacing filters and cleaning exhaust fans.

Austin is Casa’s third market after San Francisco and Los Angeles. The company says the city’s tech-focused population and large supply of single-family homes make it a strong fit, with plans to eventually expand to other major Texas cities.

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