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The Federal Trade Commission on April 10 denied the Louisiana Real Estate Appraisers Board’s motion to dismiss a complaint alleging it violated federal antitrust law. The hearing on the matter is scheduled for June 11.
The Federal Reserve on April 10 announced proposed changes to its annual stress tests for big banks, including slightly higher capital requirements for some larger institutions and relief for some smaller ones, HousingWire reported.
Investors report that commercial real estate is nearing the end of its cycle, but they still see a strong office sector and anticipate rent and occupancy growth, even with rising cap rates, according to the annual research survey on the CRE market released April 9 by National Real Estate Investor.
The delinquency rate for commercial mortgage-backed securities rose four basis points in March, the first increase since June 2017, according to analytics firm Trepp, MBA NewsLink reported April 12. Office sector delinquencies were up 34 basis points and hotel sector delinquencies were up 12 basis points.
Confidence in the homebuying market is up, with more consumers in March saying they think it’s a good time to buy or sell a home than said so in February, Fannie Mae reported April 9. Consumer confidence in the job market and wages remained unchanged month-to-month.
Single-family rentals in 22 of the 30 largest U.S. cities have outpaced apartment rentals during the last decade, rental agency RentCafe reported April 12. The number of single-family rentals increased by 31 percent between 2007-16, with Phoenix experiencing the biggest gains.
The Appraisal Institute in an April 13 letter to the Appraisal Standards Board expressed concern that two Q&As may be amending Uniform Standards of Professional Appraisal Practice definitions and creating new requirements rather than interpreting USPAP itself. The letter formally requested changes to or the retraction of the Q&As.
The U.S. Department of Housing and Urban Development on April 10 announced it will award $28 billion to nine states, Puerto Rico and the U.S. Virgin Islands to aid in recovery from major disasters. The funds will address severely damaged housing, businesses and infrastructure from incidents dating back to 2015.
Analytics firm CoreLogic announced on April 12 that it acquired a la mode technologies, a subscription-based software firm serving more than 40,000 valuation professionals, HousingWire reported. The acquisition expands CoreLogic's valuations division, which includes technology solutions firm FNC and appraisal management companies RELS and LandSafe Appraisal Services.
Average daily room rates for U.S hotels during the first quarter increased 0.7 percent while bookings grew by 1.7 percent, according to hospitality firm TravelClick, MBA NewsLink reported April 12. Hotel cap rates also ticked up, and early signs of modest cap rate weakening were reported.
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