Originally published on May 11, 2021, for Redfin.

The value of properties sold is roughly equal to the GDP of France,
or the combined market value of Amazon and Facebook

Originally published on May 13, 2021 for Freddie Mac.

MCLEAN, Va., May 13, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 2.94 percent.

Originally published on April 28, 2021, for NAHB.

Soaring lumber prices that have tripled over the past 12 months has caused the price of an average new single-family home to increase by $35,872, according to new analysis by the NAHB Economics team. This lumber price hike has also added nearly $13,000 to the market value of an average new multifamily home, which translates into households paying $119 a month more to rent a new apartment. Further adding to affordability woes, building material prices have by and large been steadily rising since 2020 and were up across the board in March.

Originally published on April 27, 2021 by Isabelle Novak for Redfin

Originally published on April 27, 2021, by the Consumer Financial Protection Bureau.

WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) formally delayed the mandatory compliance date of the General Qualified Mortgage (QM) final rule from July 1, 2021 to October 1, 2022. The CFPB is taking this action to help ensure access to responsible, affordable mortgage credit, and preserve flexibility for consumers affected by the COVID-19 pandemic and its economic effects.

Originally published on April 22, 2021, by ATTOM Staff for ATTOM Data Solutions Blog.

IRVINE, Calif. — Apr. 22, 2021 — ATTOM Data Solutions, curator of the nation’s premier property database, today released its first-quarter 2021 Special Coronavirus Report spotlighting county-level housing markets around the United States that are more or less vulnerable to the impact of the Coronavirus pandemic that continues to impact the U.S. economy. The report shows that states along the East Coast, as well as Illinois, were most at risk in the first quarter of 2021 – with clusters in the New York City, Chicago and southern Florida areas – while the West continued to face less risk.

Originally published on April 14, 2021, by Isabelle Novak for Redfin.

Originally published on April 14, 2021, by the Federal Reserve.

This report was prepared at the Federal Reserve Bank of Dallas based on information collected on or before April 5, 2021. This document summarizes comments received from contacts outside the Federal Reserve System and is not a commentary on the views of Federal Reserve officials.

Oriignally published on April 21, 2021, for the Appraisal Institute.

The House Financial Services Committee on April 20 approved HR 2553, the Real Estate Valuation Fairness and Improvement Act, legislation that would establish an interagency task force to analyze federal collateral underwriting standards and guidance, and provide resources for promoting diversity within the valuation profession. The bill now moves to a full House vote, but no date has been set.

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Originally published on April 2, 2021 for The Real Estate Roundtable.

President Joe Biden on March 31 announced the first part of his sweeping economic growth proposal focused on infrastructure and clean energy – a $2.3 trillion, eight-year plan that White House officials said would be funded, over 15 years, by corporate and international tax increases. (Wall Street Journal and White House Fact Sheet: The American Jobs Plan, March 31)

Originally published on March 18, 2021, by Erin Osgood for Redfin Press Center. 

AI Answers, with Jeff Sherman, Steve Roach, Leslie Sellers, and Bill Garber, spotlights the newly released “The Appraisal of Real Estate,” 15th edition, a peer-reviewed Appraisal Institute text and an authoritative source of recognized methods and techniques for valuation practitioners.  

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Originally published by Pete Schroeder on February 12, 2021 for Reuters.com.

WASHINGTON (Reuters) - The U.S. Federal Reserve on Friday unveiled the hypothetical recession it plans to test large banks against in its 2021 stress tests, which includes “substantial stress” in the commercial real estate and corporate debt markets.

BREAKING: 2020-21 USPAP Extended for One Year

Read Full Press Release

• Admissions and Designation Qualifications Committee: Stephen D. Roach, MAI, SRA, AI-GRS (Jan. 1, 2021 to Dec. 31, 2021 term).
• International Relations Committee: Ernst. Ulich H. Bergmann, MAI, SRA (Sept. 10, 2020 to Dec. 31, 2021 term).
• Audit Committee:  Robert L. Moorman, MAI, SRA, AI-GRS beginning Nov. 13, 2020.  Moorman’s term will continue through Dec. 31, 2022.
• Strategic Planning Committee Chair:  Robert R. Elliott, MAI, SRA (Nov. 13, 2020 to Dec. 31, 2021).

AI will continue to compile vital information about this ever-changing environment. On our Coronavirus Updates page, you’ll continue to find news and updates from government-sponsored enterprises and agencies. You’ll also find all of AI’s resources that are relevant to the pandemic including: AI Answers, webinars, ANO articles, guides, summaries and emails.

Please visit the Coronavirus Updates page on AI’s website.

As you’re probably aware, the topic of diversity and alleged bias in the valuation profession has been covered in the media recently, and it’s an issue that AI continues to take very seriously.

As the nation’s largest professional association of real estate appraisers with over 17,000 professionals, and with more than 73,000 appraisers in the U.S., there’s no way we, or anyone else, can categorically say that no bias exists in the profession and that no individual appraiser has any bias. “Good” appraisals are credible and well supported – as you know, value is not a fact to be found. Attempting to find a non-appraiser’s opinion of the “correct” value sends us quickly down a rabbit’s hole. Instead, we are springing into action with a range of programs meant to attack whatever unconscious individual biases may exist; addressing matters of diversity within the profession; and developing policy solutions relating to mortgage financing and community and economic development.

The Appraisal Institute, the American Society of Appraisers, the American Society of Farm Managers and Rural Appraisers and the Massachusetts Board of Real Estate Appraisers today announced their collective support for the development of additional training that addresses unconscious bias in valuation, and for each organization to individually review its Code of Ethics and other governing documents to further ensure awareness and compliance among its membership and the valuation profession as a whole.

“During this important time in our nation’s history, our organizations stand together to enhance existing training and ethics initiatives and work even harder to ensure that the appraisal process is free of bias or discrimination of any kind,” said Appraisal Institute President Jefferson L. Sherman, MAI, AI-GRS.

Specifically, the professional organizations pledge to develop training programs for appraisers covering unconscious bias issues, helping to increase awareness by connecting the appraisal community with thought leaders on bias and discrimination.

“Acknowledging that bias exists is but one small step. Together with our partners, we commit to doing the hard work of educating our members about the various ways bias can affect their work, and provide them the tools necessary to overcome bias. By doing this as a profession, and not merely as individual organizations, we hope to underscore to our members and the public just how important this issue is to all of us,” stated American Society of Appraisers International President Lorrie Beaumont, ASA.

Each of the organizations also commit to take steps to enhance their respective Code of Ethics to more firmly or overtly address bias and discrimination issues with protected classes.

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The Appraisal Institute Education and Relief Foundation offers scholarships for AI professionals pursuing designations and state certification. Specific offerings are available for minorities and women. Candidates for Designation and Practicing Affiliates should apply by the October 1 deadline.

The NCAI Scholarship Committee is available to answer any of your questions and guide you through the application process. Contact Scholarship Committee Chair Kelli Mayhew.

Apply Today