Originally published on November 29, 2022 by the Federal Housing Finance Agency.
The Federal Housing Finance Agency (FHFA) today announced the conforming loan limit values (CLLs) for mortgages to be acquired by Fannie Mae and Freddie Mac (the Enterprises) in 2023. In most of the United States, the 2023 CLL value for one-unit properties will be $726,200, an increase of $79,000 from $647,200 in 2022.
Originally published on November 15, 2022 by Lynn Pollack for GlobeSt.com.
An increasing number of voters supported affordable housing initiatives during the midterm elections, with some measures receiving more than 70% of the vote in both red and blue states, according to a review from Moody’s Analytics, GlobeSt.com reported Nov. 15. In Austin, Texas, for example, voters approved a $350 million bond, as affordable housing currently makes up just 6% of the city’s rental market.
Originally published on November 17, 2022 by Elizabeth Thompson and Stephanie Pagan for the National Association of Home Builders.
Elevated mortgage rates, high construction costs for concrete and other building materials and weakening demand stemming from deteriorating affordability conditions continue to act as a drag on single-family housing production.
Originally published on November 10, 2022 by the Federal Housing Finance Agency.
The Federal Housing Finance Agency (FHFA) announced today that the 2023 multifamily loan purchase caps for Fannie Mae and Freddie Mac (the Enterprises) will be $75 billion for each Enterprise, for a combined total of $150 billion to support the multifamily market. The 2023 caps reflect an anticipated contraction of the multifamily originations market in 2023.
Originally published on November 17, 2022 by th Appraisal Institute.
The Appraisal Institute announced today that CEO Jim Amorin, MAI, SRA, AI-GRS, will resign effective Feb. 14, 2023. He will conclude five years of service as the organization’s CEO and is moving on to pursue other opportunities.
Originally published on November 8, 2022, by Michael Tucker for the Mortgage Bankers' Association.
U.S. hotel gross operating profit per available room improved in September and now exceeds the pre-pandemic comparable, said STR, Hendersonville, Tenn. But the STR P&L data release for September noted the cost of labor per available room came in higher than the pre-pandemic comparable for the first time.
Originally published on November 16, 2022, by the Appraisal Institute.
The Appraisal Institute Board of Directors voted to adopt one 45-Day Notice item during its Nov. 10-11 meeting in Chicago. The 45-Day Notice item addresses proposed amendments to the Bylaws regarding the International Member on the Board as set forth in the 45-Day Notice distributed to Designated Members, Candidates, Practicing Affiliates, and Affiliates on Sept. 26.
Originally published on November 10, 2022, for Freddie Mac.
A new survey from Freddie Mac (OTCQB: FMCC) found that 64% of active-duty servicemembers transitioning to civilian life expect their search for affordable housing to be extremely or somewhat challenging. The survey also found that the majority of veterans believe VA Home Loans provide a clear pathway to homeownership. Eighty-seven percent of active-duty military are aware of the program’s benefits, and 90% of active-duty servicemembers who are currently renting plan to use a VA Home Loan to buy a home at some point.
Originally published on November 10, 2022, by ATTOM.
ATTOM, a leading curator of real estate data nationwide for land and property data, today released its third-quarter 2022 report analyzing qualified low-income Opportunity Zones targeted by Congress for economic redevelopment in the Tax Cuts and Jobs Act of 2017 (see full methodology below). In this report, ATTOM looked at 4,732 zones around the United States with sufficient data to analyze, meaning they had at least five home sales in the third quarter of 2022.
Originally aired on November 4, 2022, by Warren Boizot, SRA, AI-RRS, and Tonia Vailas, MAI, AI-GRS for the Appraisal Institute's Face Value.
The Appraisal Institute on Nov. 4 released its latest episode of the Face Value podcast, “Appraiser Diversity Initiative: Helping Aspiring Appraisers Find a Path to Success.” Host Tonia Vailas, MAI, AI-GRS, chats with Bill Garber, director of government and external relations for AI, and two AI professionals about the Appraiser Diversity Initiative, their personal experiences with the program, and how to get involved.
Originally published on November 2, 2022, by Howard Schneider and Ann Saphir for Reuters.
The Federal Reserve raised interest rates by three-quarters of a percentage point again on Wednesday and said its battle against inflation will require borrowing costs to rise further, yet signaled it may be nearing an inflection point in what has become the swiftest tightening of U.S. monetary policy in 40 years.
Originally published on October 27, 2022, by PwC.
The Urban Land Institute (ULI) and PwC US today released Emerging Trends in Real Estate® 2023, an annual report highlighting the trends shaping the real estate industry. In its 44th edition, the report includes proprietary data and insights from more than 2,000 leading real estate industry experts, exploring shifts in the property sector since the pandemic, changing investor sentiment toward climate risks, the emergence of impact investing, and other real estate issues within the United States and Canada.
Originally published in November 2022 by Junia Howell and Elizabeth Korver-Glenn for the Arts & Sciences at Washington University.
Homes in predominately white neighborhoods are reportedly appraised at double the value of homes in communities of color with comparable amenities, the Weidenbaum Center on the Economy, Government, and Public Policy concluded in its Nov. 3 report Appraised: The Persistent Evaluation of White Neighborhoods as More Valuable Than Communities of Color. The report utilizes information found in the Uniform Appraisal Dataset.
Originally published on October 7, 2022, by the White House.
Today, the Biden-Harris Administration is announcing key progress on implementing its Housing Supply Action Plan, which in May outlined a set of administrative and legislative priorities aimed at closing the housing supply shortfall in five years. The President believes that policies that boost the supply of affordable housing are critical to easing the burden of rising housing costs for renters and aspiring homeowners, and must be taken in combination with actions that address near-term housing affordability and promote fair housing.
Originally published on October 24, 2022, by the Yardi Matrix.
The student housing industry continued to ride healthy demand and strong fundamentals to another record-breaking performance in Q3 and 2022 overall, according to the new quarterly National Student Housing Report from Yardi® Matrix.
Originally published on October 25, 2022, by Michael Tucker for the Mortgage Banker's Association.
The affordable housing market sits at a “critical juncture” as heightened housing demand and soaring inflation challenge low-income households, reported Arbor, Uniondale, N.Y.
Originally published on October 24, 2022, for the Federal Housing Finance Agency.
The Federal Housing Finance Agency (FHFA) today published its new Uniform Appraisal Dataset (UAD) Aggregate Statistics Data File. FHFA also launched UAD Aggregate Statistics Dashboards on its website to provide user-friendly visualizations of the newly available data.
Originally published on September 21, 2022, by Maria Gatea for StorageCafe.
Downtown living can be quite polarizing – some people love the hustle and bustle of city center areas while others tend to avoid them in favor of quieter neighborhoods a little further out. But even with the rapid development of life in the suburbs, downtown living never lost its shine. In fact, according to our latest study, the country’s major cities experienced a resurgence of apartment construction in their central neighborhoods over the last decade.
Originally published on October 11, 2022, by Mandy McClure and Edwin Nieves for the US Department of Labor.
The U.S. Department of Labor will publish a Notice of Proposed Rulemaking on Oct. 13 to help employers and workers determine whether a worker is an employee or an independent contractor under the Fair Labor Standards Act.
Originally published on October 16, 2022, by Michael Tucker for the Mortgage Bankers Association.
The North American data center market added significant new supply this year, but overall vacancy declined to a record low, reported CBRE, Dallas.
