The best time to buy a house may be next week, Sept. 27–Oct. 3

☕ Grab your coffee — here’s what’s making headlines across Texas real estate.

Today's newsletter is 724 words — a 2.5-minute read. Let’s dive in…

1. Home prices grew 0.25% in August

Home prices rose 0.25% month over month in August — the slowest pace in three months, down from 0.26% in July and 0.27% in June — according to a Redfin report. Prices were still up 3.7% year over year, the fastest annual growth rate in a year.

Texas markets were among the weakest performers. Austin posted the steepest monthly decline nationally at 0.7% (tied with Charlotte), while Dallas fell 0.2%, Houston 0.3%, and Fort Worth was flat. San Antonio bucked the trend, posting Texas's largest monthly gain at 0.9%.

Texas also dominated the list of annual price declines. Dallas fell 1.4% year over year — the biggest drop among major metros — followed by Austin (-1.1%), Fort Worth (-0.7%) and San Antonio (-0.4%), with Seattle the only non-Texas metro to post a decline (-0.1%).

2. Gov. Abbott halts new data center permits

Texas is pausing new data center permits while state regulators complete audits of the industry’s electricity and water use. Gov. Abbott directed the Texas Commission on Environmental Quality to halt permits until ERCOT and the Texas Water Development Board provide information needed to assess grid and water impacts.

The directive also requires data centers to cover their own electrical infrastructure costs, report electricity and water use, and avoid using water needed by local communities. ERCOT is reviewing more than 474 gigawatts of connection requests, with about 90% attributed to data center load.

For commercial real estate, the pause could delay the permitting and development of planned data center projects. Developers now face additional scrutiny over power, water, infrastructure costs and community impacts as Texas reviews the industry's rapid expansion. TCEQ must report back to Abbott's office by Oct. 19.

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3. Catch up quick

📅 The best time to buy a house may be next week, Sept. 27–Oct. 3. (Realtor.com)

🏡 Why more real estate agents are pursuing mortgage licenses. (HousingWire)

💻 AI is becoming a bigger part of Realtors’ businesses. (NAR)

👀 Coming-soon listings sell for more than private listings. (RealEstateNews)

4. Renting is $1,066 cheaper per month than buying

The typical renter paid $1,948 a month in August, compared with $3,014 for a new homeowner’s mortgage, taxes and insurance, according to a Zillow report. That’s a $1,066 monthly gap, or $12,792 a year. The gap has widened as buyer costs rose $140 over the past six months, compared with a $32 increase in typical rent.

In Texas, the typical monthly savings from renting are $2,054 in Austin, $1,522 in Dallas, $1,003 in Houston and $1,000 in San Antonio. Austin renters pay about $1,622 a month, while the typical new buyer faces $3,676 in monthly housing costs.

Zillow estimates renters who invest the difference could earn an additional $322 in the first year nationally, while the five-year cumulative savings and investment returns could reach about $72,000, assuming rents and homeownership costs remain stable.

5. First-time homebuyers could get up to $50,000 for a down payment

First-time homebuyers could receive up to $50,000 toward a down payment under the proposed Homeownership Promise Act. The bill would provide a 5-to-1 federal match, meaning someone who saves $10,000 could receive $50,000 from the government, for up to $60,000 in total funds.

There would be no income limit, but buyers would need to purchase a principal residence priced at or below the median home price in their area. Their savings would also have to be held at participating Community Development Financial Institutions certified by the Treasury Department.

Employers and nonprofits could contribute to a buyer’s account, but those contributions would not qualify for the federal match. The proposal was introduced Wednesday by Sen. Jeff Merkley and cosponsored by Sen. Ron Wyden.

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