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April 2019

AI, Freddie Mac to Teach Valuation of Manufactured Homes

The Appraisal Institute and Freddie Mac on March 6 announced a partnership targeted to help real estate appraisers when valuing manufactured housing. The partnership will provide practical appraisal training to all appraisers, as well as specifically targeted training and case studies to address manufactured housing valuation assignments for Freddie Mac's CHOICEHome.

April 2019

Enhanced Appraisal Review Drops Refinance Risk, Data Shows

An enhanced appraisal review process has reduced default risk in mortgage refinancing, making these loans less risky to lenders than before the financial crisis — but still riskier than purchase mortgage loans, the Urban Institute reported March 7 after analyzing data from Fannie Mae and Freddie Mac.

April 2019

California Property Worth $150B at Risk Due to Rising Sea Levels: US Geological Survey

Around $150 billion in coastal California real estate is at risk of flooding by the end of the century, according to a study from the U.S. Geological Survey, the Los Angeles Times reported March 13. The study considered the combined effects of sea level rise and storms, as well as wave action, cliff erosion and beach loss.

April 2019

Baltimore Plans to Demolish 2,000 Structures, Lower its Abandoned Building Count

The city of Baltimore will demolish 2,000 vacant buildings over the next year as part of a $50 million project that aims to bring the city's number of abandoned buildings below 15,000 for the first time in 15 years, The Baltimore Sun reported March 15.

April 2019

Farmington, New Mexico, to See Largest Drop in Home Values: Forecast

Homes in Farmington, New Mexico, are expected to see the greatest depreciation in value this year, with an expected drop of 2.6 percent, according to analytics firm VeroForecast, HousingWire reported Feb. 27. Three Illinois cities took the second through fourth spots, with homes in Danville, Decatur and Peoria expected to see annual depreciation.

April 2019

The Multifamily Rental Market Expected to Remain Strong, Research Group Reports

The multifamily market is expected to remain strong as consumers continue to show a preference for renting for various financial and socioeconomic reasons, including student debt that puts homebuying out of reach of many young consumers, according to investment research group Clarion Partners, National Real Estate Investor reported March 12.

April 2019

Housing Groups Ask FHFA to Go Easy on GSE Reform, Focus on Affordable Housing

Twenty-four housing industry organizations on March 6 sent a letter to the Federal Housing Finance Agency encouraging it to end conservatorship of Fannie Mae and Freddie Mac in order to protect the safety and soundness of the market, but to proceed slowly and to prioritize affordable housing, HousingWire reported.

April 2019

Home Price Growth Shows Signs of Slowing: Case-Shiller

Home price growth is starting to modulate, increasing in December at the slowest rate since November 2016, according to the Case-Shiller Home Price Index released Feb. 26 by S&P Dow Jones Indices and CoreLogic, HousingWire reported. The index noted that more modest and sustainable levels of price growth are expected this year.

April 2019

Pittsburgh Best Metro for First-time Homebuyers, San Francisco the Worst, Data Shows

Pittsburgh is the best metro for first-time homebuyers, followed by Raleigh, North Carolina; and Oklahoma City, financial services firm Bankrate reported March 18. Six of the 10 worst metros for first-time homebuyers were in California, with San Francisco taking the top spot.

April 2019

Home Sales Are Expected to Stabilize as Affordability Improves, Fannie Mae Reports

Home sales are expected to stabilize because demand can be supported by a solid labor market and strong household formation, Fannie Mae's Economic and Strategic Research Group reported March 20. Housing affordability also improved due to slowing home price appreciation and lower mortgage rates.