Originally published on October 23, 2023, by the White House.

Today, President Biden and Secretary of Commerce Gina Raimondo will announce the designation of 31 communities across the country as Regional Innovation and Technology Hubs (Tech Hubs) through the Department of Commerce Economic Development Administration. These Tech Hubs will catalyze investment in technologies critical to economic growth, national security, and job creation, and will help communities across the country become centers of innovation critical to American competitiveness. The Tech Hubs program was authorized by the CHIPS and Science Act – signed by President Biden in August 2022 – and is part of the President’s Bidenomics agenda to grow the economy from the middle out and bottom up.

Originally published on October 12, 2023, by Anneliese Mahoney for Mortgage Bankers Association

Originally published on October 5, 2023, by Heather Zeller for VeroFORECAST

SANTA ANA, Calif., Oct. 5, 2023 —Veros Real Estate Solutions (Veros®), an industry leader in enterprise risk management and collateral valuation services, released its 2023 Q3 VeroFORECASTSM that anticipates that home prices are expected to increase on average 2.2% over the next 12 months, compared to last quarter’s forecast of 1.7% increase, indicative of a steady market.

Originally published on October 11, 2023, by Bryan Mena for CNN.com

Most Federal Reserve officials said last month that they expect one more rate hike, according to minutes from their September policy meeting released Wednesday. Some officials said that how fast inflation cools in the coming months will determine how long rates remain elevated.

Originally published on October 9, 2023, by Tony Cantu for MPAMag.com.

The inspector general’s office of the Federal Housing Finance Agency has released its report on management and performance challenges for the upcoming year, key among them the continued conservatorship of the GSEs – both of which have a combined adjusted total risk-based capital shortfall of more than $400 billion, according to the document.

Originally published on October 12, 2023, by Andrea Nicole for RentCafe.com.

U.S. cities are buzzing with new apartment buildings — more than we’ve seen in decades. So, if you’ve noticed more cranes against your city’s skyline recently, you’re not alone. In fact, this boom is turning certain neighborhoods into hotspots for new apartments, attracting mostly young, high-earning folks chasing the dream of urban apartment living.

Originally published on September 29, 2023 by Richard Berger for GlobeSt.com.

“Gangbusters” is what CBRE’s Vice Chairman Aron Will says the seniors housing mergers and acquisitions market will look like in the next 18 months.

Originally published on October 5, 2023 by the Federal Housing Finance Agency (FHFA).

While the number of U.S. home appraisals and median appraised values declined year-over-year between the second quarters of 2022 and 2023, both indicators increased between the first and second quarters of 2023.​

Originally published on October 5, 2023, by Anneliese Mahoney by the Mortgage Bankers Association.

CBRE, Dallas, found nearly 100 office-conversion projects are slated to be completed in major U.S. cities this year. That’s more than double the average of 41 per year from 2016 to 2022.

Originally published on October 4, 2023, by CoreLogic.

Originally published on September 28, 2023, by Stephanie Collins for the Office of the Comptroller of the Currency.

The Office of the Comptroller of the Currency (OCC) today released its bank supervision operating plan for fiscal year (FY) 2024.

Originally published on September 27, 2023, by Oleh Sorokin for the National Association of Realtors.

While the massive interest rate hikes have hammered the commercial real estate market, the recent Federal Reserve decision to hold rates unchanged will give the market a break. After 11 collective rate hikes in the last 18 months, commercial real estate credit has gotten even tighter as lenders have been more cautious after the recent collapse of the two regional banks in March of 2023. According to the Federal Reserve survey, small and mid-sized banks — holding most commercial real estate loans — reported tighter lending standards in the year's second quarter. In the meantime, delinquency rates for commercial real estate loans have increased, albeit remaining historically low. Although the Federal Reserve is signaling more rate hikes to follow by the end of the year, this pause will give some time to assess the impact of higher rates on the economy.

Originally published on September 26, 2023 by Orphe Divounguy for Zillow.com.

• The total value of the U.S. housing market is 49% higher than before the pandemic. 
• New York, Los Angeles, San Francisco, Boston, and Miami are the most valuable housing markets. 
• Florida now boasts the second-most-valuable real estate market, surpassing New York. California retains the top spot. 

The U.S. housing market has surged over the past year after a temporary hiccup from July 2022 to January 2023. Higher mortgage rates then contributed to a decline in the total value of residential real estate as potential buyers reconsidered their plans and residential investment fell. That downturn has proven to be short-lived as housing has rebounded impressively so far in 2023, with the total value of the U.S. housing market surging by more than $2.6 trillion over the past year. 

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Originally published on September 28, 2023, by Kenneth Applewhaite for Redfin.

Nearly one-third (32%) of Black Americans who recently moved believe they were discriminated against based on their ethnicity or race during their home search, and an additional 22% believe they may have been discriminated against. That’s according to a survey from Redfin (redfin.com), the technology-powered real estate brokerage. The share is even higher for Hispanic Americans: 36% experienced discrimination and an additional 22% believe they may have been discriminated against.

Originally published on September 5, 2023, by Elizabeth Thompson and Stephanie Pagan for the National Association of Home Builders.

Rising mortgage rates and elevated construction costs have taken a toll on the pace of single-family construction in markets across the nation, with the slowdown most pronounced in large metro areas. Multifamily market growth also fell in most areas of the country, according to the latest findings from the National Association of Home Builders (NAHB) Home Building Geography Index (HBGI) for the second quarter of 2023.

Originally published in May 2023 by the National Association of Realtors.

In May 2023, NAR surveyed its members pertaining to data collectors in the appraisal process. The findings are as follows:

• Sales agents accounted for the largest proportion, with 45% of participants holding this license. Brokers followed with 24%, and appraisal-certified professionals comprised 14% of the respondents. Broker-Associates and Appraisal Licensees accounted for 13% and two percent, respectively, while the remaining two percent reported holding other types of real estate licenses.

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Originally published on September 19, 2023 by Veronica Grecu.

Miami was the most competitive rental market during this summer’s peak moving season, but the Midwest was America’s hottest apartment region, with three markets in the top five nationally. That’s largely because the Midwest offers housing options that fit more ranges of budgets, as well as a cost of living that’s lower than on the coasts. Naturally, this makes it a very attractive region to live in for renters seeking a balance between budget and quality of life.

Originally published on September 5, 2023, by Pete Schroeder for Reuters.com.

The U.S. Federal Deposit Insurance Corporation (FDIC) is seeking buyers for the $33 billion commercial real estate (CRE) loan portfolio of failed New York lender Signature Bank, it said on Tuesday.

Originally published on September 12, 2023, by the Appraisal Institute. 

The Appraisal Institute, the nation’s largest professional association of real estate appraisers, announced today that the organization’s Practical Applications of Real Estate Appraisal program (AI PAREA) for the licensed residential path has launched broadly, and registration is now open.

Originally published on September 15, 2023, by the Face Value Appraisal Insitute Podcast.

The Appraisal Institute on Aug. 31 released its latest episode of the Face Value podcast, “Dedication to Diversity: A Conversation About the Appraiser Diversity Initiative.” Hosts Tonia Vailas, MAI, AI-GRS, and Warren Boizot, SRA, AI-RRS, are joined by Smedmore Bernard Jr., MAI, Brent Quashie and Elana Wroten to share their experiences and the advice they have for others. Additionally, they talk about the new William S. Harps DEI Award.