More than 1 in 4 Texas home shoppers are from out of state, per a recent report from Realtor.com.

Why it matters: Texas continues to lead the U.S. in population growth, but the surge in new residents has contributed to a tight housing market in the state's four largest metropolitan areas, including San Antonio.

• As a result, homeownership is out of reach for low-income families.

The big picture: Though housing prices are still too high for many Texas residents, the state is more affordable than California and Florida, the states with the highest number of residents who flock to Texas.

• Californians are 56% more likely to say they moved to Texas for cheaper housing than new Texas residents from other states, per the Realtor.com report.

Context: Like many other companies, Realtor.com is moving its headquarters from California to Austin. Its report examines why so many people and businesses are moving to the state.

Reality check: Though the Realtor.com report presents a sunny view of the state's housing market, it does recognize that Texans are likely to face added housing costs due to extreme heat and hurricane risks in the state.

By the numbers: San Antonio stands out as an especially attractive market for new-home buyers, with 39.8% of listings being new builds — the highest share among major Texas metros.

• New homes in San Antonio are priced just 4.8% higher than existing homes, making them relatively affordable compared to other Texas cities.
• Bexar County's median average home price is $281,995, below the state median of $330,000 in January, according to the San Antonio Board of Realtors.

Yes, but: More than half of Texans make less than $75,000 annually, but only 17% of houses for sale are affordable at that income.

• Even high-income earners making up to $150,000 can afford only 66% of the houses on the market.

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Institutional investors bought nearly 9.5% of houses sold last year in the San Antonio metro area, a drop from 2023, per a recent report from ATTOM, a real estate firm.

The big picture: Nationwide, institutional investors — any non-lending group that purchased at least 10 properties in a calendar year — have backed off the last three years as housing affordability has plummeted, the report shows.

Why it matters: Investors bet on growth. They want to see strong population and job growth, solid rental yields, landlord-friendly regulations, affordability and long-term appreciation potential, ATTOM CEO Rob Barber tells Axios.

• Though investors bought fewer houses last year, they're still drawn to southern states like Texas.

By the numbers: San Antonio's investor share outpaces the state average — institutional investors bought 8.2% of homes sold in Texas last year, down from 9.6% in 2023.

• In San Antonio, the share dropped by 1.6 percentage points, falling from 11.1% in 2023.
• But it's still above the national average, where investors purchased 6.3% of homes sold in 2024, down from 7% in 2023.

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✈️ San Antonio International Airport's inaugural nonstop flight to Ronald Reagan Washington National Airport (DCA) took off this morning at 6:35am.

• U.S. Sens. Ted Cruz and John Cornyn, U.S. Reps. Henry Cuellar and Joaquin Castro, and Mayor Ron Nirenberg joined American Airlines officials for a press conference yesterday to celebrate the milestone. (News 4)

🍕 Upscale pizzeria Primo's will open next month in the former home of NOLA Brunch and Beignets near the St. Mary's Strip. (SA Current)

🥇San Antonio resident Paul Holborn won the World Marathon Challenge in February, completing seven marathons on seven continents in under seven days. (KSAT)

The Holey Moley Open is coming to Texas next month, with events in San Antonio, Austin and Houston.

Catch up quick: The San Antonio location of the minigolf chain opened at The Shops at Rivercenter in December.

How it works: Teams of four in San Antonio, Houston and Austin will face off across nine minigolf holes in the City Championships on March 25.

• Winning teams will advance to the State Final in Austin on April 8, featuring 18 holes and two courses.

The vibe: In addition to a $10,000 cash prize, the event will have a DJ, confetti showers and cocktails.

What's next: Registration is open until March 10. Each player must be at least 21.

• 60 teams from across the state will be picked to compete.
• Teams advancing from the March 25 championships will receive travel accommodations for the State Final.

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K. Spoetzl Brewery, home of Shiner, revived its historic Texas Special beer, a crowd-pleaser first brewed in 1933.

Why it matters: The American-style lager hasn't been around since the 1960s, and now it's back with Texas Special Light, a lighter take on the classic.

The latest: Cans and packs of the beer hit shelves across the state yesterday, coinciding with Texas Independence Day.

Flashback: The beer has some history — it was first brewed to celebrate the repeal of Prohibition.

Pro tip: The brewery recommends pairing Texas Special with brisket, ribs and sausage, while the light version tastes best with barbecued chicken and seafood.

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