New home sales continue to slip in 2018 | 2018-03-23

After plummeting in January, new home sales fell slightly lower in February, however, they still remained slightly above last year’s pace, according to the latest report from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. Sales of new single-family homes decreased in February to a seasonally adjusted annual rate of 618,000, the report…

FHFA: Home prices jump in January | 2018-03-22

Home prices increased in January, moving even faster than the levels of increase seen at the end of 2017, according to the latest House Price Index from the Federal Housing Finance Agency. Home prices increased by 0.8% from December to January, the index showed. And December’s increase of 0.3% was upwardly revised to 0.4%. The chart below…

National Rental Home Council names new executive leadership | 2018-03-22

The National Rental Home Council, a trade group made up of single-family rental home owners and operators, announced this week that it elected a new executive leadership team. The group was founded in March 2014, with a goal of increasing education about the professionally managed single-family rental industry and advocating for the benefits brought by the…

Former executive director of Michigan housing commission jailed for stealing HUD funds | 2018-03-22

The former executive director of the St. Clair Housing Commission in Michigan was sentenced earlier this week to more than three years in prison after pleading guilty to stealing Department of Housing and Urban Development money that was supposed to be used to provide housing to low-income families. According to the U.S. Attorney’s Office for…

House Democrats submit amendments for HUD budget | 2018-03-12

House Democrats are fighting against the proposed budget set forth in finance committee with 14 proposed amendments to various areas of housing and other funding. During the House Financial Services Committee markup to consider the committee’s Budget Views and Estimates for Fiscal Year 2019, Democrats offered several amendments when it comes to funding the U.S.…

Existing home sales bounce back 3% in February | 2018-03-21

Existing home sales rebounded in February after two months of declines, according to the National Association of Realtors. Total existing home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 3% in February to a seasonally adjusted annual rate of 5.54 million in February, up from 5.38 million in January. After…

UBS reaches $230 million settlement with New York over toxic mortgage bonds | 2018-03-21

For the second time this month, the state of New York has reached a massive settlement with a bank that ends in “BS.” Earlier this month, New York reached a $500 million settlement with the Royal Bank of Scotland over the bank’s “deceptive practices and misrepresentations to investors in connection with the packaging, marketing, sale,…