Originally published on May 17, 2021, by William Maher for UrbanLand Magazine.
Real estate economists predict markedly improved U.S. economic and property market conditions over the next three years, 2021 to 2023, compared with the forecast of six months ago, according to the spring ULI Real Estate Economic Forecast.
Originally published on May 20, 2021. by Michael Tucker for Mortgage Bankers Association.
JLL, Chicago, reported the spread between retail property rents and industrial property rents is compressing as home deliveries speed up and e-commerce steals more and more market share from brick-and-mortar retailers.
Originally published on May 26, 2021, by George Ratiu for Realtor.com.
The past year has seen a noticeable seesaw in real estate activity, as markets traversed the challenges of the COVID pandemic. Housing started in 2020 with a significant shortage of new homes and an inventory of existing ones. As 4.7 million millennials turned 30 and embraced homeownership, the demand for homes was driving prices higher at a healthy clip. The mid-March 2020 quarantines put a stop to most transactions, leading to a sharp drop in activity until June. As the lockdowns were lifted, Americans reacted to the trifecta of social distancing, remote work, and dropping mortgage rates by rushing out of downtowns and into suburbs, as well as smaller cities and towns across the country. People focused on communities with a higher quality of life, larger homes, and a more affordable cost of living.
Originally published on May 26, 2021, by Redfin.
SEATTLE, May 26, 2021 /PRNewswire/ -- (NASDAQ: RDFN) — Nationwide, 30.6% of Redfin.com users looked to move to a different metro area in April, down slightly from 31.5% in the first quarter but up from 26% at the same time last year, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage.
Originally published on May 26, 2021, by Kriston Capps for Bloomberg CityLab.
Housing Secretary Marcia L. Fudge is making a stop on Wednesday morning at 18th and Vine, the intersection at the heart of Kansas City’s historic Jazz District. Backed by Missouri leaders, she’ll deliver remarks on a theme that she’s been repeating since her confirmation, in speeches, during testimony and over social media: “Housing is infrastructure.”
Kick-off summer with NCAI this Thursday, June 10th! Catch up with friends, make new connections, hear chapter updates about the year, and congratulate our newly designated members!
In addition, the Chapter will vote to dissolve the International Relations Committee (IRC).
SANTA CLARA, Calif., March 11, 2021 /PRNewswire/ -- Although many people were forced to put activities on hold over the past year, buying a new home was not one of them. The U.S. housing market, buoyed by record-low interest rates, remote work, and Americans' desire for more space, outperformed much of the economy throughout 2020. Today, it remains more lopsided than ever as the gap between buyer demand and supply widens, according to a new report issued today by realtor.com® that examined COVID-19's impact on the U.S. housing market one year after the World Health Organization declared the virus a global pandemic.
Kick-off summer with NCAI next Thursday, June 10th! Catch up with friends, make new connections, hear chapter updates about the year, and congratulate our newly designated members!
In addition, the Chapter will vote to dissolve the International Relations Committee (IRC).
Originally published on May 19, 2021, for the M Report.
The Federal Housing Finance Agency (FHFA) has published its proposed 2022-2024 Underserved Markets Plans, submitted by Fannie Mae and Freddie Mac under the Duty to Serve (DTS) program. The proposed Plans cover the period from January 1, 2022-December 31, 2024.
“After a run up over the first few months of the year, rates have paused and hovered around three percent since March,” said Sam Khater, Freddie Mac’s Chief Economist. “Despite this favorable rate climate, there remains a shortage of homes for sale. The lack of housing supply has been compounded by labor disruptions and expensive building materials that are driving up the cost of new housing, making it difficult for homebuyers to find homes to purchase.”
Originally published on May 17, 2021 by TheRealDeal.com.
Developers who had hoped for potential expansion of Opportunity Zones won’t be getting their way.
The House on May 18 passed HR 3008, the Homebuyer Assistance Act, legislation reintroduced by Reps. Brad Sherman, D-Calif., and Van Taylor, R-Texas, that would amend the National Housing Act and allow state-licensed appraisers to perform appraisals for mortgages insured by the Federal Housing Administration. The legislation would require compliance with existing appraiser education requirements.
A previous version of the bill was introduced in the last Congress and passed the House, but did not receive a vote in the Senate. House Financial Services Committee Chairwoman Maxine Waters is working with Sherman and Taylor to help advance this version of the legislation.
Originally published on May 11, 2021, for Redfin.
SEATTLE, May 11, 2021 /PRNewswire/ -- (NASDAQ: RDFN) — Redfin forecasts a record $2.53 trillion worth of home sales in America in 2021—a 17% year-over-year gain that would mark the largest annual increase in percentage terms since 2013. Redfin (www.redfin.com), the technology-powered real estate brokerage, made the prediction in a new report out today. To put $2.53 trillion into perspective, it's roughly equal to the value of Amazon.com Inc. and Facebook Inc. combined, or the 2020 gross domestic product (GDP) of France.
Thursday, June 10 | 2pm | Zoom Meeting
Kick-off summer with NCAI on June 10! Catch up with friends, make new connections, hear chapter updates about the year, and congratulate our newly designated members!
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 May 7, 2021, by Quintin Simmons for the National Association of Realtors.
WASHINGTON (May 7, 2021) – The U.S. economy experienced one of the swiftest declines in history last year, followed by a quick and relatively significant recovery in the second quarter of 2020. Speakers at today's Commercial Economic Issues and Trends Forum, held as part of the 2021 REALTORS® Legislative Meetings & Trade Expo(link is external), discussed these historic shifts in the nation's economy over the past 12 months while projecting a favorable outlook for the commercial real estate market in the coming year.
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
SEATTLE, April 27, 2021 /PRNewswire/ -- (NASDAQ: RDFN) — Prices of urban single-family homes are rising nearly 20% year over year—faster than any other type of home—according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. But this year's hot housing market doesn't discriminate: Urban condo sales are up nearly 30% year over year, more than any other home type.
Originally published on April 28, 2021, by the Federal Housing Finance Agency.
Washington, D.C. – The Federal Housing Finance Agency (FHFA) announced today Fannie Mae and Freddie Mac (the Enterprises) will implement a new refinance option for low-income borrowers with Enterprise-backed single-family mortgages. Eligible borrowers will benefit from a reduced interest rate and lower monthly payment. FHFA estimates that borrowers who take advantage of the new refinance option could save an average of between $100 and $250 a month.
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.
