ano - Appraiser News Online

Oct 20, 2021

Foreclosures Spike During Q3 as Moratorium is Lifted: Data

Foreclosure activity significantly increased in September as the moratorium was lifted, with 19,609 filings reported for the month, up 24% from August and up 102% from September 2020, ATTOM reported Oct. 14 in its latest Foreclosure Market Report. Lender foreclosures also increased, up 32% quarter-to-quarter. Florida, Illinois and Delaware reported the highest foreclosure rates.

Oct 20, 2021

Industrial Real Estate Soars in Q3, Sets Absorption Rate Record: Cushman & Wakefield

Demand outpaced supply in the industrial sector during the third quarter, and the absorption rate shattered previous records, Cushman & Wakefield reported Oct. 7 in its U.S. Industrial Marketbeat report. The market absorbed 140.7 million square feet of industrial space during the quarter, bringing the year-to-date total to 365.9 million square feet — a 98% increase from the same point a year ago.

Oct 20, 2021

Sunbelt Cities and Alternative Properties Expected to Dominate Real Estate: Report

Nashville, Tennessee; Raleigh/Durham in North Carolina; and Phoenix are the top cities for real estate opportunities, according to the 43rd Emerging Trends in Real Estate report released Oct. 14 by the Urban Land Institute and PwC. The report notes that investors are embracing alternative sectors, ranging from niche housing to specialized offices to warehouses.

Oct 20, 2021

Apartment Construction Surges Amid Record Demand: Data

Record demand for apartments has pushed occupancy rates to all-time highs this year, leaving many areas starved for multifamily properties, RealPage reported Oct. 12. The Dallas/Fort Worth metro area in Texas has the most market-rate apartments under construction at 38,589 units, and construction is surging in Phoenix; Austin, Texas; and Nashville, Tennessee.

Oct 20, 2021

Home Prices May Rise Another 16% by End of 2022, Goldman Sachs Economists Predict

While home prices are already 20% higher than at the same point last year, they may grow another 16% by the end of 2022, according to predictions from Goldman Sachs economists, HousingWire reported Oct. 13. Low interest rates, reduced inventory and increased millennial homeownership are all cited as reasons for the continued growth.

Oct 20, 2021

Mortgage Rates at Highest Level Since April as Inflation Pressures Build: Freddie Mac

Mortgage rates last week rose to their highest level since April as inflationary pressures continue to build, Freddie Mac reported Oct .14 in its Primary Mortgage Market Survey. Rates remain historically low, however, but strong home price growth is still keeping some would-be buyers on the sidelines.

Oct 20, 2021

Desktop Appraisals Are Here to Stay, FHFA Announces

The option to perform desktop appraisals will become permanent, the Federal Housing Finance Agency announced Oct. 19. Starting early next year, appraisals for purchase loans can be remotely conducted using public records, such as listings and tax appraisals. Desktop appraisals were intended as a temporary response to the coronavirus pandemic, allowing appraisers to safely perform their job amid lockdowns and social distancing.

Oct 20, 2021

Report: 20% of Commercial Properties, 25% of Critical Infrastructure Face Flood Risk

About 20% of U.S. commercial properties and 14% of residential properties are at risk of flooding, according to the 3rd National Risk Assessment: Infrastructure on the Brink report published Oct. 11 by nonprofit First Street Foundation. Additionally, 25% of critical infrastructure and 23% of roads are vulnerable. States with the greatest risk are Louisiana, Florida, Kentucky and West Virginia.

Oct 20, 2021

FHFA Sets Multifamily Loan Caps at $78 Billion for 2022

The Federal Housing Finance Agency announced Oct. 13 that the 2022 multifamily loan purchase limits for both Fannie Mae and Freddie Mac will be $78 billion. The cap limits are based on expected growth in the market, and are slightly higher than the $70 billion set this year for the government-sponsored enterprises.

Oct 20, 2021

Most Americans Would Rebuild After a Natural Disaster Rather Than Move, Poll Reveals

Two-thirds of Americans said that if a natural disaster destroyed their home, they would rebuild rather than move, according to an NPR/PBS NewsHour/Marist poll released Oct. 5. The results varied by age, with 75% of baby boomers saying they would rebuild while only 57% of Gen Z and millennials said they would.