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February 2019

AI Opposes Residential Appraisal Threshold Increase

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 participated in bipartisan meetings with members of Congress Jan. 15, urging them to review a proposed increase to the residential appraisal threshold.

February 2019

FHFA Won't Defend Its Structure, Constitutionality in Court

The Federal Housing Finance Agency determined its structure is unconstitutional and will no longer defend it in court, HousingWire reported Jan. 21. The FHFA asked the Court of Appeals for the Fifth Circuit to dismiss the case; the agency previously challenged the court's ruling that the FHFA violates the Constitution's separation of powers.

February 2019

AI Among Organizations Seeking Hearing on Proposed Appraisal Threshold Increase

The Appraisal Institute and 15 other organizations submitted a letter Dec. 21 to the Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency requesting that they hold a public meeting as part of the process to determine whether to increase the residential appraisal threshold from $250,000 to $400,000.

February 2019

Economic Growth Expected to Moderate Through 2020: American Bankers Association

The pace of economic growth is expected to moderate through 2020, the American Bankers Association reported Jan. 9, citing data from its Economic Advisory Committee. The forecast shows economic growth at 2.1 percent this year and 1.7 percent in 2020, which would make the current expansion the longest in U.S. history.

February 2019

Renting More Affordable than Buying in Most Markets: Report

As home prices continue to outpace rent growth, renting a three-bedroom property is cheaper than buying a median-priced home in 59 percent of U.S. housing markets, analytics firm ATTOM Data Solutions reported Jan. 8 in its Rental Affordability Report.

February 2019

Unconventional Mortgages on the Rise; Experts Worry Increase Could Hurt Housing

Unconventional mortgages, which don't require borrowers to verify incomes or assets, were up 24 percent last year to $34 billion, according to Inside Mortgage Finance, Fox Business reported Jan. 23. Experts say the increase could prove problematic, as unconventional mortgages were partly to blame for the last housing crisis.

February 2019

Housing Market Expected to Slow, Allow Inventory to Catch Up, LendingTree Reports

Homebuyers could benefit from an anticipated slowdown in the housing market this year, allowing inventory to catch up, according to a report from online mortgage marketplace LendingTree, HousingWire reported Jan. 8. The report indicates some markets will experience home price declines, but a national decline is not anticipated.

February 2019

Home Prices, Mortgage Rates Likely to Rise: CoreLogic

Home prices are expected to rise nearly 5 percent year-over-year by September, according to analytics firm CoreLogic, HousingWire reported Dec. 31. The forecasts also has mortgage rates rising by as much as half a percentage point before September.

February 2019

Orlando, Florida, Top Market for Real Estate Investment This Year, Report Shows

Orlando, Florida, was ranked as the best market in the nation for real estate investment, according to a report from home forecast firm Local Market Monitor, Forbes reported Jan. 7. Rounding out the top five markets: Raleigh, North Carolina; Jacksonville, Florida; Charlotte, North Carolina; and Cleveland.

February 2019

Study Shows Substance Treatment Facilities Don't Negatively Impact Home Values

Having a substance-abuse treatment center in the neighborhood does not negatively affect property values, according to a study from the National Bureau for Economic Research, MarketWatch reported Jan. 11. Researchers from the University of New Mexico and Temple University studied property values in Seattle from 2003 to 2016, and found no measurable difference in values.