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Existing-Home Sales Receded 4.1% in October
Existing-home sales dropped in October, according to the National Association of REALTORS®. Among the four major U.S. regions, sales slid in the Northeast, South and West but were unchanged in the Midwest. All four regions experienced year-over-year sales
Single-Family Starts Flat in October
Single-family construction held steady in October as high mortgage rates depressed demand but more buyers turned to new homes because of a lack of existing inventory. Overall housing starts increased 1.9% in October to a seasonally adjusted
CONSTRUCTION EMPLOYMENT RISES IN 40 STATES & D.C. FROM OCTOBER 2022 TO OCTOBER 2023,...
Construction employment increased in 40 states and the District of Columbia in October from a year earlier, while 22 states added construction jobs from September to October
Innovative Cooperatives Receive $170,000 in Grants From Capital Impact Partners and National Cooperative Bank
The ninth annual Co-op Innovation Awards supported four organizations’ work in Louisiana, Massachusetts, New York
Mortgage Delinquencies Increase in the Third Quarter of 2023
The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.62 percent of all loans outstanding at the end of the third
NAR Finds Typical Home Buyer’s Annual Household Income Climbed to Record High of $107,000...
Buyer income annual increase of 22% is largest on record (from $88,000 in 2022 report); down payments jumped to highest percentages in two decades
NAREB’S 2023 STATE OF HOUSING IN BLACK AMERICA REPORT FINDS SHORTAGE OF HOUSING INVENTORY...
Among Factors Restricting Black Homeownership are Lower Wealth and Median Incomes, Unfavorable Housing Market Conditions, Shortage of Housing Stock, and Institutional Bias. Major barriers impede homeownership among African Americans, despite record-low Black unemployment and a higher labor force participation rate than Whites
Rising Mortgage Rates Push Housing Affordability to Lowest Level in Index History
Rising mortgage rates, elevated construction costs and limited existing inventory helped push housing affordability in the third quarter of 2023 to its lowest level in more than a decade.
VA reduces premium rates for Veterans’ Mortgage Life Insurance
This month, the Department of Veterans Affairs reduced premiums for most Veterans and Service members insured under the Veterans’ Mortgage Life Insurance program.
Mortgage Application Payments Decreased to $2,155 in September
Homebuyer affordability improved slightly in September, with the national median payment applied for by purchase applicants decreasing to $2,155 from $2,170 in August. This is according to
NLIHC and NHLP Release Report on HUD’s Rapid Unsheltered Survivor Housing (RUSH) Program
The National Low Income Housing Coalition (NLIHC) and the National Housing Law Project (NHLP) released today a report exploring the initial implementation of the U.S. Department of
Single-Family Starts Post Unexpected Gain in September as High Interest Rates Persist
Despite elevated mortgage rates averaging above 7%, single-family starts posted a solid gain in September as more buyers are turning to new homes because of a dearth of inventory in the
CONSTRUCTION EMPLOYMENT INCREASES IN 212 OF 358 METRO AREAS BETWEEN SEPTEMBER 2022 AND SEPTEMBER...
Dallas-Plano-Irving, Texas, and Baton Rouge, La. Register the Largest Number and Percent of Job Gains; Houston-The
Pending Home Sales Grew 1.1% in September
Pending home sales augmented 1.1% in September, according to the National Association of REALTORS®. The Northeast, Midwest and South posted monthly gains in transactions while the West experienced a loss. All four U.S. regions had year-over-year
MBA Statement on the Biden Administration’s Announcement on Commercial Property Conversions to Housing
Bob Broeksmit, CMB, President and CEO of the Mortgage Bankers Association (MBA), released the following statement on the Biden
Rochester Housing Authority’s Next Project – Parliament Fairfield – is Given the “Go-Ahead” by...
Governor Hochul just announced that Rochester Housing Authority’s Parliament Arms and Fairfield Village public housing residences will receive $54.2 million to create and preserve 103 apartments in Rochester.
Lack of Resales Boost New Home Sales in September
Despite mortgage rates that are at a 23-year high, new home sales posted a double-digit percentage gain in September because of a lack of inventory in the resale market.
Alliance To Save Energy Celebrates Energy Efficiency Day With New LBNL-Brattle Group Study
“Energy efficiency has been the workhorse of climate policy for decades and is now the engine that will power the energy
Atlanta REALTORS® Releases September 2023 Statistics on Housing Market
Atlanta REALTORS® Association (ARA), the largest association of its kind in Georgia, released its September 2023 Market Brief on residential housing statistics for 11 area counties in metropolitan Atlanta. The Market Brief, compiled by First Multiple Listing Service (FMLS), provides the only regionally-focused synopsis of monthly sales and home prices for single-family residential properties.
Appraisal Institute’s AI PAREA Program Receives Certified Residential Path Approval from the Appraiser Qualifications...
The Appraisal Institute, the nation's leading professional association of real estate appraisers, announced that the
