Texas housing inventory hits 14-year high

🙏 Hey, y'all. It's not an easy moment for our region. We’re glad you're here.

Today's newsletter is 689 words — a 2.5-minute read.

1. Texas flood death toll climbs past 100

The death toll from flash floods that hit Central Texas on Friday has climbed to over 100, with an unknown number of people still missing.

Camp Mystic, a Christian all-girls summer camp, confirmed that at least 27 girls and staff members were among the dead. Ten girls and a camp counselor are still missing.

At least 84 of the victims—56 adults and 28 children—died in Kerr County, where the Guadalupe River overflowed after torrential downpours early Friday morning.

Texas Lt. Gov. Dan Patrick said lives might have been saved if flood warning sirens had been installed along the Guadalupe River, calling for such systems to be in place by next summer. LINK

2. What the ‘Big Beautiful Bill’ means for homeowners

The Big Beautiful Bill Act, passed by House Republicans on Thursday, is expected to benefit wealthy homebuyers while offering little support to lower-income renters and first-time buyers, according to experts.

The bill narrowly passed in a 218–214 vote, with all Democrats opposed and all but two Republicans in favor.

One of the most significant real estate provisions is the temporary increase of the SALT (State and Local Tax) deduction cap from $10,000 to $40,000. While this primarily benefits high-tax states, Texas metros like Austin—where property taxes often exceed $10,000—are also likely to see a positive impact.

Under the new bill:

• The $40,000 cap will last for five years and begin to phase out for incomes over $500,000

• The cap will increase by 1% annually through 2029

• It will return to $10,000 in 2030

🤔 Related: How Trump's "big beautiful bill" will affect Texas. (Axios)

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3. Catch up quick

🧓 Retirees are flocking to these 10 states. (SmartAsset)

📈 The country added 147,000 jobs in June. (ABCNews)

📑 FHA seeks input on buy now, pay later lending. (HousingWire)

💪 Real estate tycoon made his son get an MBA, work elsewhere, and climb the ranks for 13 years to prove he’s not a nepotism hire. (Fortune)

🔋 Will selling a house with solar panels make or break the sale? (Redfin)

4. Consumer homebuying sentiment slumped in June

Fannie Mae’s Home Purchase Sentiment Index (HPSI) dropped to 69.8 in June—a 5% decline after rebounding to 73.5 in May. The latest reading brings the index back near March and April levels, when consumer sentiment hovered close to the lowest levels since late 2023.

More consumers saw buying conditions improve last month, but overall sentiment still declined—driven largely by growing concerns about job stability.

The share of consumers worried about losing their jobs jumped to 29%—up 13 points from May and 18 points higher than a year ago. This category saw the sharpest decline in sentiment, driven by heightened economic volatility, shifting tariff policy, and reduced consumer spending.

5. Texas housing inventory hits 14-year high

Texas now has more homes for sale than at any point since 2011, according to new data from the Texas Real Estate Research Center.

As of April, Texas had 141,950 active home listings—a 31.4% year-over-year surge and an 8% jump from the previous month—pushing inventory to its highest level in 14 years.

Fueling this rise, more than 60,000 new listings entered the market in April alone, up 15% from a year earlier.

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