Nationwide residential real estate brokerage Douglas Elliman Realty has announced the opening of a second office in Houston.

New home construction missed analyst estimates in September, falling 8.1% month over month to an annual rate 1,439,000 homes, according to government statistics. 

Many luxury home sales were closed in September, the most expensive being a 12,907-square-foot mansion on W. Friar Tuck Lane that sold for $7,990,000.

After 250 days on the market, Houston lawyer Tony Buzbee’s home’s listing price has been cut 27.7% to $20 million.

Mortgage rates rose to 6.9%, the highest they’ve been since April 2002.

First-time homebuyers now make up 45% of current homebuyers, according to Zillow. The numbers represent a rebound from the lows of the pandemic.

The Houston Association of REALTORS® was featured on the game show Jeopardy! this week. The episode, which aired Oct. 11, included a Daily Double that referenced HAR’s decision to eliminate the term “master bedroom” from listings.

The new franchise will be the brokerage’s 16th in Europe as it pursues other expansion opportunities around the world. 

The developers currently have 19 active communities — 15 of them in the Houston area — many of which contain open lots that will roll out to builders beginning in October and extending through the end of the year.

The former chairman and CEO of the homebuilder died of Parkinson’s disease at 81. 

Landmark Properties broke ground on a build-to-rent community in the Houston suburb of Spring. The development is expected to be completed in 2024 and is part of a Landmark partnership with Principal Real Estate Investors.

One of the most famous houses in Texas has returned to the market for the lofty price of $3.7 million. Nicknamed the “Darth Vader House” for its fortress-like exterior, this huge fully renovated single-family home is listed by The Nicole Handy Team of Braden Real Estate Group.

The Greater Houston Builders Association honored the best in the business at the annual Houston’s Best PRISM Awards on Oct. 1.

Shea Homes has closed on a 300-acre property in Montgomery County for its newest master-planned community, Woodhavyn.

RE/MAX Holdings, Inc. has named Grady Ligon as its new chief information officer. Ligon brings 20-plus years of experience to the position, as well as his proven track record for integrating technology to enhance business growth.

Looking ahead, CoreLogic expects the year-over-year pace of home-price appreciation to slow to 3.5% by August 2023.