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Results: 10 Articles found.

April 2021

Nearly 50% of Americans Missed Housing Payments: Data

Forty-six percent of Americans missed at least one mortgage or rent payment since the beginning of the coronavirus pandemic, and 25% missed more than one payment, according to survey results released March 11 by personal finance website GOBankingRates. The data showed that the missed payments likely were the result of layoffs and reduced work hours.

 

April 2021

FHFA Further Extends Alternative Appraisals Due to COVID-19

The Federal Housing Finance Agency announced March 11 that Fannie Mae and Freddie Mac will extend until April 30 flexibilities for alternative appraisals on purchase and rate term refinance loans. Other flexibilities that are being extended include alternative methods for income and employment verification, and expanded use of power of attorney.

 
April 2021

Appraisal Institute Supports Legislation Focused on Fairness in Valuation

The Appraisal Institute on March 9 sent a letter to the House Committee on Financial Services expressing its support for the Real Estate Valuation Fairness and Improvement Act of 2021. The legislation would establish an interagency task force to analyze federal collateral underwriting standards and guidance and provide resources for promoting diversity in the valuation profession.

 
April 2021

More Than 11 Million Families at Risk of Losing Their Home, CFPB Report Reveals

More than 11 million families are behind on their mortgage or rent payments, and widespread foreclosures and evictions could occur when federal, state and local pandemic protections stop, according to a report released March 1 by the Consumer Financial Protection Bureau. The report noted that 2.1 million homeowners and 8.8 million renters are at least three months behind on their payments.

 

April 2021

Economy Likely to Grow, Housing to Remain Stable: Fannie Mae

Gross domestic product and employment should expand during the coming months, and interest rates are expected to rise but have a nominal effect on home sales, Fannie Mae reported March 17 it its Economic & Housing Outlook report. Fannie expects single-family home sales to be slightly lower this year than last, and anticipates an uneven year for multifamily properties.

 
April 2021

Gen Z Renters Eschew Big Cities, Seek Smaller, More Affordable Towns: Report

Greenville, North Carolina, is the hottest market for Gen Z renters as younger people reject the large coastal cities favored by their millennial predecessors and seek smaller to mid-size towns in the South and Middle America, online real estate marketplace RentCafé reported March 5. The appeal to these areas is more space and a lower cost of living.

 
April 2021

Homes in Austin, Texas, Selling Fast and for Highest Premium in the US, Redfin Reveals

Homes in Austin, Texas, are selling for 7.1% above list price on average, the highest premium in the U.S., online real estate firm Redfin reported March 24. The housing market there picked up pace during the coronavirus pandemic, with homes selling for 23% more than a year ago and 12 days faster.

 

April 2021

Risk of Flood Damage to Homes to Reach $32B by 2051: Report

Extreme weather and rising sea levels could cause $20 billion in damage to U.S. homes this year, and damages could grow to $32 billion by 2051, according to research released Feb. 22 by nonprofit First Street Foundation, Reuters reported. The states at the greatest risk are Florida, California, South Carolina and Texas, which have a combined 4.3 million properties at risk of substantial damage.

 
April 2021

US Housing Market Remains in Uneven Recovery Since Start of Pandemic: Realtor.com

Since the onset of the coronavirus pandemic, home prices in the U.S. are up 14.3% while new listings are down 27%, and properties are selling almost a week faster than they were pre-pandemic, according to the Housing Market Recovery Index released March 11 by Realtor.com. The Index notes that the market could stabilize as the vaccine rollout expands.

 
April 2021

COVID-19 Changing Homeowner Preferences; Outlying Suburbs Now More Popular: NAHB

The COVID-19 pandemic has changed the buying preference of 25% of homebuyers, most noticeably reflected in an increased interest in living in the outlying suburbs, the National Association of Home Builders reported March 25 in its survey What Home Buyers Really Want. Preferences for close-in suburbs, rural areas and downtowns all declined.

 
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