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Results: 1995 Articles found.
March 2022

The Rich Spent More than $40 Billion on Luxury Homes Last Year, Report Shows

Sales of ultra-luxury real estate totaled around $40 billion in 2021, with more than 2,300 transactions for properties valued at $10 million or more, a 112% increase from the year before, according to a report from Compass, Inc., WealthManagement.com reported Feb. 11. Los Angeles led the way, followed by Manhattan and Palm Beach, Florida.

 
March 2022

Build-to-rent Single-family Homes a Growing Trend, Led by Phoenix, Report Shows

Communities of single-family homes specifically built as rentals is becoming a hot residential real estate trend, RentCafé reported Jan. 20. The trend is being driven by renters’ interest in more space and privacy, especially in light of the pandemic. A record 6,740 single-family rentals were completed in 2021, and nearly 14,000 are under construction. Phoenix is the most popular metro for these properties.

 
March 2022

Almost 70% of US Households Can’t Afford Median-priced Home, NAHB Says

Nearly 70% of U.S. households can’t afford the median-priced home of $412,505 and don’t have the income to qualify for a mortgage under standard underwriting criteria, The National Association of Home Builders reported Fed. 15. Currently, about 87.5 million households can’t afford the median-price, and if it were to increase by even $1,000, another 118,000 would be unable to buy.

 
March 2022

Agencies Say USPAP Needs Clarity Regarding Bias and Federal Law Requirements

Multiple agencies, including the National Credit Union Administration, the Federal Housing Finance Agency and the Federal Reserve Board, sent a letter to The Appraisal Foundation Feb. 4 saying there aren’t “clear warnings about the requirements of federal law in the standards it sets, and in the training it provides for appraisers” with regard to alleged bias. The agencies requested changes to the 2023 edition of the Uniform Standards of Professional Appraisal Practice.

 

March 2022

Fannie Mae Settles Suit Over Homes in Minority Neighborhoods

Fannie Mae reached a $53 million settlement with the National Fair Housing Alliance and 20 other organizations on Feb. 7, resolving allegations that it treated homes it owned in majority-Black and Latino communities unfavorably. Fannie Mae was accused of maintaining foreclosed homes in predominantly white neighborhoods while allowing those in predominantly Black and Latino neighborhoods to fall into disrepair.

 

March 2022

Florida, Ohio Have Most Overvalued Housing Markets: Data

Florida and Ohio have the largest share of metros rated as overvalued, researchers at Florida Atlantic University and Florida International University reported Jan. 25. Seven of the country’s 33 most inflated markets are in Florida and four are in Ohio. However, the nation’s most overvalued market is Boise, Idaho, where data reveals that buyers pay 77% more than they should.

 
March 2022

US Home Values Grew 18.6% Last Year; Austin, Texas, Home Values Skyrocketed: Redfin

The total value of U.S. homes grew 18.6% in 2021, reaching a record $38.6 trillion by the end of the year, Redfin reported Feb. 3. Home values in Austin, Texas, surged 39.2% during the same time frame, more than twice as fast as the national average.

 

February 2022

Fannie Mae to Allow Desktop Appraisals Starting March 19

Starting March 19, Fannie Mae will allow desktop appraisals for select properties based on property tax records and past sales, HousingWire reported Jan. 19. To be eligible, a loan must be a purchase transaction on a single-unit principal residence with a loan-to-value ratio not to exceed 90%.

 
February 2022

Vacation Home Demand is 77% Higher than Pre-pandemic Levels, According to Redfin

Demand for vacation homes in December was 77% higher than pre-pandemic levels as people continue to work remotely and are able to take advantage of low interest rates, Redfin reported Jan. 6. While December demand was high, it was lower than the demand recorded in November and last January.

 
February 2022

Consumers Says Now is a Good Time to Sell a Home, Bad Time to Buy One: Fannie Mae

Seventy-six percent of consumers said they believe it’s a good time to sell a home, but only 26% said it’s the right time to buy one, Fannie Mae reported Jan. 7 in its latest Home Purchase Sentiment Index. At this point last year, 52% favored selling, while 50% wanted to buy. The shift may foretell a softening of the housing market.

 
Results: 1995 Articles found.

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