FHFA: U.S. House Prices Rise 1.7 Percent in First Quarter 2018
Monthly Index Shows 0.1 Percent Increase in March U.S. house prices rose 1.7 percent in the first quarter of 2018 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices rose 6.9 percent from the first quarter of 2017 to the first quarter of 2018. FHFA’s seasonally adjusted monthly index for…
HUD: Senate Confirms Brian Montgomery to Lead Federal Housing Administration
By a vote of 74-23, the U.S. Senate today confirmed President Donald J. Trump’s nomination of Brian D. Montgomery to serve as Assistant Secretary of Housing at the U.S. Department of Housing and Urban Development (HUD) and Commissioner of the Federal Housing Administration (FHA). Montgomery’s confirmation marks his second term as Assistant Secretary for Housing…
HUD & Census Bureau: New Residential Sales Report for April 2018
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for April 2018: New Home Sales Sales of new single-family houses in April 2018 were at a seasonally adjusted annual rate of 662,000. This is 1.5 percent (±11.8 percent)* below the revised March…
FHFA: 2017 Report to Congress Released
The Federal Housing Finance Agency (FHFA) today released its 2017 Report to Congress. The statutorily-required report provides information about FHFA’s 2017 examinations of Fannie Mae, Freddie Mac (the Enterprises), 11 Federal Home Loan Banks (FHLBanks) and the FHLBanks’ Office of Finance. The report also describes FHFA’s actions as conservator of the Enterprises during the year…
HUD: $2.6 Billion Awarded to Improve and Preserve the Nation’s Public Housing
Housing authorities will use funding to modernize housing for families, seniors To help public housing authorities make needed capital improvements to their properties, the U.S. Department of Housing and Urban Development today allocated more $2.6 billion in annual funding to housing authorities in all 50 states, as well as the District of Columbia, Guam, Puerto…
HUD: $5 Million Awarded for Community Development in Four Rural Communities
The U.S. Department of Housing and Urban Development awarded $5,000,000 to four organizations in California, Minnesota, and Washington, D.C. to continue its community and organizational development strategies to improve the lives of low-income persons. The funding is provided through HUD’s Rural Capacity Building for Community Development and Affordable Housing Program. “HUD is committed to delivering…
HUD and Census Bureau: Residential Construction Activity Report for April 2018
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for April 2018. Building Permits: Privately owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,352,000. This is 1.8 percent (±1.3 percent) below the revised…
HUD: FHA Extends Foreclosure Moratorium for Hurricane Maria Victims
Additional 90-day relief to help eligible FHA-insured families in Puerto Rico & U.S. Virgin Islands For the third time since Hurricane Maria devastated Puerto Rico and the U.S. Virgin Islands, the Federal Housing Administration (FHA) today announced that the agency is extending its foreclosure moratorium to borrowers with FHA-insured mortgages. This extended foreclosure moratorium is…
HUD: $10 Million in “Sweat Equity” Grants Announced
SHOP grant funding calls for the use of elbow grease to help 535 families become homeowners The U.S. Department of Housing and Urban Development (HUD) today awarded $10 million in “sweat equity” grants to four non-profit self-help housing organizations which will create at least 535 affordable homes for hard-working, low-income families and individuals. Funded through HUD’s…
Federal Reserve: Fed Notes – Can More Housing Supply Solve the Affordablilty Crisis? Evidence from a Neighborhood Choice Model
Can More Housing Supply Solve the Affordability Crisis? Evidence from a Neighborhood Choice Model (PDF) Elliot Anenberg and Edward Kung Abstract: We estimate a neighborhood choice model using 2014 American Community Survey data to investigate the degree to which new housing supply can improve housing affordability. In the model, equilibrium rental rates are determined so…