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Sales of New Homes Up Slightly in DFW in May

DFW: Sales of new homes in North Texas were up in May compared to April. HomesUSA.com reports that 2,122 homes were sold last month, compared to 1,947 in April, but prices were down. The average new-home price was down to $460,012 in May, from $466,362 in April and even further from the average of $470,046 in May 2025. HomesUSA.com also reported that active listings were slightly lower in May compared to April and from May of last year. Industry analysts continue to point to higher inventory and buyers waiting on the sidelines because of higher mortgage rates and concerns over inflation and geopolitical matters.

DFW: Dallas city leaders are doing all they can to lure a financial giant to Uptown Dallas. The city council has approved $18.5 million in incentives over 16 years for Morgan Stanley to move into “Y’all Street” in Uptown. Morgan Stanley would be the anchor tenant in a regional office in a new $1.3 billion, 27-story tower on a site owned by Trammell Crow Co. That site currently houses Truluck’s restaurant and a vacant building. Morgan Stanley could invest nearly $700 million into the tower construction and lease about 700,000 square feet of space. It would also employ 3,800 people within the next nine years. If Morgan Stanley moves forward with its regional office, it would plan to invest nearly $100 million and lease more than 250,000 square feet for several years in the 58-story Fountain Place tower in downtown Dallas prior to the permanent move to Uptown. 

U.S.: World Cup fever has overtaken stadiums, restaurants, shopping malls and other venues across the country this month and it also has made some homeowners very happy. Homeowners putting up their abodes for short-term rental during World Cup matches are commanding some serious money. While hotel prices have increased across the board, most prices for short-term rentals have averaged about $500 per night in the 11 host cities. But as the race for the trophy gets tighter, some homes in Dallas and the New York-New Jersey area are coming with four-figure nightly charges. In the Dallas area, there are homes that are going for more than $3,000 per night, with a four-day minimum, at different times over the next three weeks. Dallas already has hosted four games, and it will host five more, including a semifinal match on July 14. 

CALIFORNIA: Could more California billionaire homeowners leave the state now that a tax measure aimed to tax them officially has been placed on the November ballot? Proponents of the initiative gathered more than 1.6 million signatures—more than double the number necessary—to place a one-time 5% tax on those homeowners making more than $1 billion. The proposal had pushed tech titans and the governor to find ways to stop it from moving forward. Many of California’s estimated 200 billionaires had found ways last year to sell properties, buy additional properties outside of California and change official residencies to other states ahead of the deadline at the end of 2025. Now, they, some government officials and even some labor unions are working to defeat it at the ballot box. The tax measure, according to its backers, aims to help fund state programs dedicated to healthcare, food assistance and education but critics say the source of funding is not sustainable. 

HAMPTONS: Buyer’s Remorse? Wise investment? Or Sleepless in the Hamptons? Meg Ryan spent a hefty sum on a Bridgehampton retreat two years ago, but now she wants out—and for a profit. The actress bought a traditional 4,900-square-foot home for $13.5 million in 2024. Set in a gated 1.6-acre estate, the 10-year-old home has 4,900 square feet on three floors. It includes five bedrooms and six baths with a chef’s kitchen, wide oak plank flooring, multiple fireplaces, a geothermal cooling and heating system, plus more inside and out, including lush grounds and a pool. She is now asking $15.25 million. Ryan is no stranger to real estate investment, having bought a handful of properties on both coasts, renovating them and selling several for sizable profits over the years.

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