Build-to-rent has been a booming business in Phoenix lately — in fact, according to a new report from RentCafe, the metro saw a 73% increase in single-family rental construction from 2018 to 2023. With 488 build-to-rent units completed in 2023, Houston is the No. 15 metro in the nation for this type of new construction. Houston also ranked fourth in the country for deliveries in the past five years, with 2,402 units added to the market since 2018. This trend doesn’t appear to be slowing any time soon: Houston is also the No. 3 metro in the country for build-to-rent units currently under constr ..read more

Chris Hutchens is rejoining Guaranteed Rate in a newly expanded role: producing area manager and senior vice president of mortgage lending. Based out of Wilmington, North Carolina, Hutchens will provide management and mentorship to loan officers there, as well as at a new location in Pinehurst and in surrounding areas. Hutchens previously spent more than eight years at Guaranteed Rate, as a vice president of mortgage lending, before leaving in 2022 to become a branch leader at Movement Mortgage. Reflecting on his return in a press release, Hutchens said, “It’s cliché, but sometimes you don’t k ..read more

What was your most interesting job before going into real estate? I sold parts and equipment for the oil industry. Where did you grow up? Colombia, South America Growing up, what did you want to be? I wanted to study business administration. What do you do to relax when you’re stressed? Listen to music, meditate or take a walk. If you could meet any well-known figure (living or not), who would it be and why? Wayne Dyer. He was very inspirational, and his teachings and books keep inspiring me to believe in me and to always keep a positive attitude. What is Houston’s best kept secret? The green ..read more

At World Properties LLC, the Chicago-based company that owns @properties and Christie’s International Real Estate, has agreed to settle all claims brought by sellers relating to broker commissions. This agreement comes one day after the company was added to the nationwide lawsuit, Gibson, which echoes the now-infamous Sitzer-Burnett suit and previously named Compass, eXp, Redfin, Douglas Elliman, and other real estate companies. At World Properties’ settlement applies to that and all future lawsuits with the same cause of action. It also covers all company-owned brokerages. In addition to @pro ..read more

Home sales declined 8.3% in Houston last month, with 7,163 closings — however, that was the third-highest sales volume in the country, trailing behind only Chicago and New York. According to the latest RE/MAX National Sales Report, Houston is also the city with the third-most new listings on the market. New listings there jumped 23.3% year over year in March, with 13,299 properties entered into the MLS. That hefty number of new listings boosted the greater Houston inventory to a 2.9-month supply, up 24.3% year over year. “As we move into what are normally the prime homebuying months, the incre ..read more

New-home sales increased marginally across the Lone Star State last month, according to the latest New-Home Sales Report from HomesUSA CEO Ben Caballero. In Houston, however, sales remained relatively flat: new-home sales increased from 1,827 in February to 1,848 in March. Days on market also increased to 97.9 days, up from 96.1 days a month prior. “The Texas spring homebuying season is underperforming as the new-home sales recovery has been unimpressive,” said Caballero. “New-home markets throughout Texas are struggling to return to normal seasonality.” Caballero added that while the strong T ..read more

CoStar Group Inc., a global real estate information marketplace, will acquire Matterport, which pioneered the development of “digital twins”: the 3D capture method which can deliver photorealistic, virtual home tours. Founded in 2011, Matterport’s patented technology enables anyone to digitize a property using just about any camera, including ones found on smartphones. “CoStar Group and Matterport have nearly identical mission statements of digitizing the world’s real estate,” Andy Florance, founder and CEO of CoStar Group, said in a press release. “The world has changed and today, a Matterpor ..read more

Legend Homes unveiled plans for Ridgeland Hills, its seventh new-home community in Montgomery County. Located in Willis, Ridgeland Hills will include 127 lots with 36- and 40-foot homesites. Prices will start in the $227,000s. “Ridgeland Hills is the latest Legend Homes community to debut in the booming north Houston region,” Daniel Banes, Houston vice president of sales, said in a press release. “We’re proud to participate in this vital region’s growth and expansion and look forward to guiding customers on their journey to becoming proud homeowners.” Two model homes will open in May. Prospect ..read more

Available rental properties rose in March, providing a bountiful supply of single-family homes for Houston renters. According to the Houston Association of REALTORS®’ (HAR) latest Rental Market Update, new listings of single-family rentals rose 8.9% year over year, with 5,097 new listings added to the market. Meanwhile, leased listings increased by 4.8% year over year, with 3,989 leases signed, while the average lease price rose 5.3% to $2,262 (up from $2,149 in March 2023). “Spring is traditionally a busy time for the housing market, and this year, the Houston rental market is no exception ..read more

D.R. Horton unveiled plans for Silverthorne, a new community in Conroe. Located at FM 1484 and Wally Wilkerson Parkway, the 1,341-acre development will include approximately 2,500 homes upon completion. “We are excited about our newest flagship community in North Houston,” Soni Graves, city manager of northeast Houston for D.R. Horton, said in a press release. “Homebuyers will appreciate its convenient location and the relaxed, back-to-nature vibe we are envisioning.” Graves added that D.R. Horton has “put a lot of thought and care” in the planned amenities for Silverthorne, which include a re ..read more