MADISON, N.J. — Century 21 Real Estate LLC today announced the launch of its “Give Dad Nothing” Father’s Day gift campaign, enabling children of all ages to give their dads exactly what they seemingly wish for year-after-year – a piece of absolutely nothing.

Starting today and until June 19, 2016 at 11:59 p.m., consumers can log onto givedadnothing.com and enter the name of their dad to receive a free, printable certificate of a 24-hour license on Father’s Day for a parcel of land in Nothing, Arizona. They can then download, print or e-mail the certificate, along with a special #givedadnothing Father’s Day card, and send Dad this unique gift idea digitally or by U.S. mail. Plus, the microsite givedadnothing.com also houses a sharable video about the Father’s Day gift campaign and an interactive 360-degree view for consumers to explore the town of Nothing.

“Our strategic growth initiatives and continued investment in marketing activities are helping to drive our market momentum as a brand, and this campaign allows us to tap into a culturally relevant moment in time and help our affiliated sales associates engage, connect and build long-term relationships with homebuyers and sellers in a clever, unexpected way,” said Cara Whitely, chief marketing officer, Century 21 Real Estate. “As a brand, we have always believed in the power of real-time social and digital marketing initiatives that position SMARTER. BOLDER. FASTER®. CENTURY 21 affiliated sales professionals as the local market leaders and innovators in the markets that they serve.”

Nothing, Arizona is a deserted town located in Mohave County approximately 120 miles northwest of Phoenix.

To claim a piece of Nothing or to give Nothing as a gift, please visit givedadnothing.com. To follow along in the fun, search #GiveDadNothing or visit the CENTURY 21 brand’s Instagram, Twitter, Facebook and YouTube social channels.

The CENTURY 21 brand first revolutionized real estate with the introduction to the industry of the franchisor/franchisee model by real estate brokers Art Bartlett and Marsh Fisher on July 28, 1971. Today, the CENTURY 21 brand is the most recognized name in real estate* and the leader in brand awareness among consumers presented with a list of real estate agencies for the 17th year in a row.* Century 21 Real Estate LLC is committed to making a difference in people’s lives by delivering to market innovative tools and technologies, marketing support and the use of its iconic brand marks that help its independent brokers and affiliated sales associates provide a seamless experience to real estate consumers around the world.

WASHINGTON, DC – Driven by strengthening private domestic demand, economic growth is expected to accelerate modestly this year and drag last year’s unspectacular housing activity upward, according to Fannie Mae’s (FNMA/OTC) Economic & Strategic Research (ESR) Group. Amid continued low gasoline prices, firming labor market conditions, rising household net worth, improving consumer and business confidence, and reduced fiscal headwinds, the economy is expected to climb to 3.1 percent in 2015, up from the Group’s estimate of 2.7 percent in the prior forecast. The stronger economic backdrop should lead to improving income prospects, underpinning a higher rate of household formation in 2015.

“Our theme for the year, Economy Drags Housing Upward, implies that both housing and the economy will pick up some speed in 2015, but that the economy will grow at a faster pace,” said Fannie Mae Chief Economist Doug Duncan. “We have revised upward our full-year economic growth forecast to 3.1 percent for 2015, which is not yet robust but still an improvement over last year’s growth. Consumer spending should continue to strengthen due in large part to lower gas prices, giving further support to auto sales and manufacturing. We believe this will motivate the Federal Reserve to begin measures to normalize monetary policy in the third quarter of this year, continuing at a cautiously steady pace into 2016 and 2017, likely keeping interest rates relatively low for some time.”

“Strength in the broader economy, accompanied by continued employment growth and meaningful income growth, should contribute to some improvement in housing activity this year,” said Duncan. “Given historically low mortgage rates and a gradual easing of lending standards, our forecast calls for a 5.8 percent increase in total home sales for the year. Most of that is likely to come from growth in existing home sales, but we expect the rising share of new home sales to lead to a healthy increase in single-family construction of about 19 percent, or 765,000 units. Although we don’t view this as signaling a breakout year for housing, we do expect to see broad-based improvement in 2015 following a disappointing and uneven year for the housing recovery in 2014.”

Visit the Economic & Strategic Research site at www.fanniemae.com to read the full January 2015 Economic Outlook, including the Economic Developments Commentary, Economic Forecast, Housing Forecast, and Multifamily Market Commentary.

SEATTLE — Where people choose to live has traditionally been tied to where they work, a dynamic that through the past decade spurred extreme home value growth and an affordability crisis in coastal job centers. But the post-pandemic recovery could mitigate or even produce the opposite effect and drive a boom in secondary cities and exurbs, prompted not by a fear of density but by a seismic shift toward remote work.

Now that more than half of employed Americans (56%) have had the opportunity to work from home, a vast majority want to continue, at least occasionally. A new survey from Zillow, conducted last week by The Harris Poll1, finds 75 percent of Americans working from home due to COVID-19 say they would prefer to continue that at least half the time, if given the option, after the pandemic subsides.

Two-thirds of employees working from home due to COVID-19 (66%) would be at least somewhat likely to consider moving if they had the flexibility to work from home as often as they want. Only 24 percent of Americans overall say they thought about moving as a result of spending more time at home due to social distancing recommendations.

The Pew Research Center found prior to COVID-19, only 7 percent of civilian workers in the United States had the option to work from home as a workplace benefit, though 40 percent worked in jobs that could potentially be performed remotely.

Recent Zillow research suggests more Americans are at least looking at their housing options. In mid-April, page views of for-sale listings on Zillow were 18 percent higher than in 2019.

Space Seekers

Many employed Americans are trying to square the desire to work remotely with the functionality and size of their existing homes. Among employees who would be likely to consider moving, If given the flexibility to work from home when they want, nearly one-third say they would consider moving in order to live in a home with a dedicated office space (31%), to live in a larger home (30%), and to live in a home with more rooms (29%).

A Zillow analysis finds 46 percent of current households have a spare bedroom that could be used as an office. But that percentage drops off by more than 10 points in dense, expensive metros such as Los Angeles, New York, San Jose, San Francisco and San Diego, where far fewer homes have spare rooms.

When it comes time to move, home shoppers who can work remotely may seek out more space — both indoor and outdoor — farther outside city limits, where they can find larger homes within their budget.

“Moving away from the central core has traditionally offered affordability at the cost of your time and gas money. Relaxing those costs by working remotely could mean more households choose those larger homes farther out, easing price pressure on urban and inner suburban areas,” said Zillow senior principal economist, Skylar Olsen. “However, that means they’d also be moving farther from a wider variety of restaurants, shops, yoga studios and art galleries. Given the value many place on access to such amenities, we’re not talking about the rise of the rural homesteader on a large scale. Future growth under broader remote work would still favor suburban communities or secondary cities that offer those amenities along with more spacious homes and larger lots.”

Zillow Premier Agents from Silicon Valley to Manhattan say anecdotally, they’re seeing the early beginnings of a shift.

“We are seeing more buyers looking to leave the city,” said Bic DeCaro, a member of Zillow’s Agent Advisory Board serving Washington, D.C., and Northern Virginia. “Buyers, who just a few months ago were looking for walkability, are now looking for extra land to go along with more square footage.”

Keith Taylor Andrews, a small business owner in Denver, started home shopping on Zillow the week Colorado issued a stay-home order. The first-time homebuyer is now under contract on a house in Fayetteville, Arkansas that he plans to use as his home office.

“We learned from COVID-19 that we could operate our business remotely,” said Andrews, who has 40 employees working from home. “Arkansas is a good place to move, it’s economical and there are far fewer people. It feels like a breath of fresh air to get out of the city.”

Computing the Commute

Previous Zillow research found renters, buyers and sellers overwhelmingly agreed that the longest one-way commute they’d be willing to accept when considering a new home or job was 30 minutes.

This new survey from Zillow and The Harris Poll finds those priorities appear to change if people have the flexibility to work from home regularly. When given that option, half of those who are able to do their job from home (50%) say they would be open to a commute that was up to 45 minutes or longer.

In most major cities, living close to downtown comes at a price. A previous Zillow analysis found in 29 of the nation’s 33 largest metro markets buyers can expect to pay more per square foot for a home within a 15-minute, rush-hour drive to the downtown core. If buyers and renters are not burdened by a five-day-a-week commute, housing in the exurbs, secondary cities and remote bedroom communities may become viable and affordable options.

Even with remote work as an option, only 10 percent of those able to do their job from home would consider a commute longer than an hour, debunking the theory that urbanites are now seeking out rural living as a result of the coronavirus.

About Zillow
Zillow® is transforming how people buy, sell, rent and finance homes by creating seamless real estate transactions for today’s on-demand consumer. Zillow is the leading real estate and rental marketplace and a trusted source for data, inspiration and knowledge among both consumers and real estate professionals.

Zillow’s proprietary data, technology and industry partnerships put Zillow at nearly every major point of the home shopping experience, helping consumers search for and get into their new home faster. Zillow now offers a fully integrated home shopping experience that includes access to for sale and rental listings, Zillow Offers®, which provides a new, hassle-free way to buy and sell eligible homes directly through Zillow; and Zillow Home Loans, Zillow’s affiliated lender that provides an easy way to receive mortgage pre-approvals and financing. Zillow Premier Agent instantly connects buyers and sellers with its network of real estate professionals to help guide them through the home shopping process. For renters, Zillow’s innovations are streamlining the way people search, tour, apply and pay rent for leased properties.

SEATTLE, — The affordable homes most sought after by first-time homebuyers are being kept off the market in part because nationally, those homes are almost three times more likely to be underwater than the most expensive homes, according to the first quarter Zillow® Negative Equity Reporti. The national negative equity rate fell to 18.8 percent in the first quarter, with almost 9.7 million American homeowners with a mortgage underwater, owing more on their mortgage than their home is worth.

Among all homes with a mortgage nationwide, roughly one in three (30.2 percent) priced within the bottom third of home values were underwater in the first quarter, compared to 18.1 percent of homes in the middle third and 10.7 percent of homes in the top thirdii. It is very difficult for an underwater homeowner to list their home for sale without engaging in a short sale or bringing cash to the closing table, which is a major contributor to inventory shortages across much of the country, even as negative equity slowly recedes.

More than one-third of homeowners with a mortgage (36.9 percent) are effectively underwater, unable to sell their homes for enough profit to comfortably meet expenses related to selling a home and afford a down payment on a new one.

“The unfortunate reality is that housing markets look to be swimming with underwater borrowers for years to come,” said Zillow Chief Economist Dr. Stan Humphries. “It’s hard to overstate just how much of a drag on the housing market negative equity really is, especially at the lower end of the market, which represents those homes typically most affordable for first-time buyers. Negative equity constrains inventory, which helps drive home values higher, which in turn makes those homes that are available that much less affordable.”

Negative equity has fallen for eight consecutive quarters, but fell at its lowest pace in almost two years in the first quarter as home value growth slowed. Negative equity fell from 25.4 percent in the first quarter of 2013 and 19.4 percent in the fourth quarter, while the pace of annual home value growth slowed to 5.7 percent in the first quarter, from 6.6 percent at the end of the fourth quarter. Looking ahead, the national negative equity rate is expected to fall to 17 percent of all homeowners with a mortgage by the first quarter of 2015, according to the Zillow Negative Equity Forecastiii.

At the end of the first quarter, the number of homes foreclosed nationwide fell to 4.9 homes per 10,000, from 5.4 homes per 10,000 at the same time last year. As foreclosure activity continues to fall, the pace of negative equity improvement will also slow, as homeowners’ debt is wiped from lenders’ books following foreclosure.

About Zillow:
Zillow, Inc. (NASDAQ: Z) operates the largest home-related marketplaces on mobile and the Web, with a complementary portfolio of brands and products that help people find vital information about homes, and connect with the best local professionals. In addition, Zillow operates an industry-leading economics and analytics bureau led by Zillow’s Chief Economist Dr. Stan Humphries. Dr. Humphries and his team of economists and data analysts produce extensive housing data and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price Expectations Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home Value Index over the next five years. Zillow also sponsors the bi-annual Zillow Housing Confidence Index (ZHCI) which measures consumer confidence in local housing markets, both currently and over time. The Zillow, Inc. portfolio includes Zillow.com®, Zillow Mobile, Zillow Mortgage Marketplace, Zillow Rentals, Zillow Digs®, Postlets®, Diverse Solutions®, Agentfolio®, Mortech®, HotPads™ and StreetEasy®. The company is headquartered in Seattle.

Joint Release
Department of Housing and Urban Development
Office of the Comptroller of the Currency
Federal Housing Finance Agency
Consumer Financial Protection Bureau

Washington, D.C. – Four federal agencies will host a roundtable discussion September 12, 2023, at 3:00 p.m. EDT regarding the availability of special purpose credit programs (SPCP) to help meet the credit needs of eligible individuals. The event will be open to the public via livestream.

U.S. Department of Housing and Urban Development Secretary Marcia L. Fudge, Acting Comptroller of the Currency Michael J. Hsu, Federal Housing Finance Agency Director Sandra L. Thompson, and Consumer Financial Protection Bureau Director Rohit Chopra are scheduled to offer remarks at the event. The event will also include a roundtable discussion with representatives from community groups and industry trade organizations that is focused on the opportunities and benefits of SPCPs.

SPCPs are a long-established tool permitted under the Equal Credit Opportunity Act (ECOA) and Regulation B. SPCPs can help creditors expand responsible credit access to economically or socially disadvantaged consumers and commercial enterprises. With proper planning, development, and implementation, lenders can use SPCPs as permitted under ECOA and Regulation B to help address the critical credit needs of underserved communities.

Information about how to participate via livestream is available here: https://www.fhfa.gov/Media/PublicAffairs/Pages/Four-Federal-Agencies-to-Host-Roundtable-on-Special-Purpose-Credit-Programs.aspx#:~:text=livestream%20is%20available-,he%E2%80%8Bre.,-%23%23%23

FARMINGTON HILLS, Mich., April 2, 2021 /PRNewswire/ — Aramco and the American Concrete Institute (ACI) announce the launch of NEx: A Center of Excellence for Nonmetallic Building Materials to develop and promote the use of nonmetallic materials in the building and construction sector.

Based at ACI World Headquarters in Farmington Hills, Michigan, USA, NEx will focus on accelerating the use of nonmetallic materials and products in construction, leveraging ACI’s role as a world-leading authority and resource for the development, dissemination and adoption of consensus-based standards for concrete design, construction and materials.

“The Center’s mission will be to collaborate globally on using nonmetallic materials in the built environment by driving research, education, awareness and technology adoption,” said Jeffrey W. Coleman, ACI President. “Expanding incorporation of nonmetallic materials and products in the built environment will improve sustainability, contribute to a lower carbon footprint, and enhance the durability and longevity of structures.”

Commenting on the launch of NEx, Aramco Senior Vice President of Technical Services, Ahmad Al-Sa’adi, said: “Aramco has been developing and deploying nonmetallic solutions within our own operations for more than 20 years as they offer superior lifecycle cost, efficiency and environmental advantages over their metal alternatives.”

He added: “The potential for using nonmetallic advanced polymetric materials, however, goes way beyond the oil and gas sector and includes the building and construction industries where there is significant potential. That is why this new Center of Excellence for Nonmetallic Building Materials offers enormous and exciting opportunities.”

Aramco is already a leader in the use of nonmetallic materials in oil and gas facilities to reduce corrosion, weight and the cost of construction and operation. This initiative with ACI is part of the Company’s broader strategy to enter new markets, leveraging its hydrocarbon resources and technology to deliver advanced polymeric materials solutions across industries.

Nonmetallic materials are increasingly being deployed across multiple industries, including oil and gas, construction, automotive, packaging and renewables. They offer several advantages over metallic materials, such as corrosion-resistance, reduced weight, increased durability, lower cost, and improved environmental efficiency.

Over the past four decades, the American Concrete Institute has been convening the industry’s brightest minds to advance nonmetallic technologies. With numerous published guides, reports, and specifications on nonmetallics in concrete, including fiber-reinforced polymers and fiber reinforced concrete, NEx will serve as a catalyst to incorporate more than 40 years of knowledge into the further acceleration of nonmetallic materials and technology.

“Our founding member, Aramco, aligns with our vision to effectively meet the demands of a changing world by setting standards for the development and adoption of nonmetallic materials in building and construction,” added Mr. Coleman. “ACI is pleased to have Aramco’s support in leading this dialogue with industry stakeholders around the world.”

The Center plans to expand its scope to include the use of nonmetallics in other construction materials, such as composite cladding, asphalt and soil. The Center looks to draw additional partners from leading academic institutions, industries, technical societies, standard bodies, manufacturers and professionals.

To learn more about how NEx is advancing nonmetallics and to get involved, visit nonmetallic.org.

About Aramco

Aramco is a global integrated energy and chemicals company. We are driven by the core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world. aramco.com

About Aramco Americas

Aramco Services Company (d/b/a Aramco Americas) is the U.S.-based subsidiary of Aramco, a world leader in integrated energy and chemicals, and has had a presence in the U.S. for more than 60 years. Aramco Americas is a contributor to the U.S. energy sector through research and development, venture fund activities, asset ownership, as well as technology and digital transformation. The company is headquartered in Houston, and maintains offices in New York, Washington D.C., Boston, and Detroit. Aramco Americas is committed to being a positive contributor in the communities where its employees live and work, and to making a difference through outreach that benefits the arts, geosciences, education and the environment. americas.aramco.com

About ACI

Always advancing – the American Concrete Institute is a leading global authority for the development, dissemination, and adoption of its consensus-based standards, technical resources, and educational, training and certification programs. Founded in 1904, ACI is headquartered in Farmington Hills, Michigan, USA, with a regional office in Dubai, UAE, and a resource center in Southern California. concrete.org

SOURCE Saudi Aramco

CONTACT: international.media@aramco.com

TEMPE, Ariz., April 29, 2021 /PRNewswire/ — To help bridge the diversity gap in the real estate industry, the W. P. Carey School of Business at Arizona State University has partnered with Grambling State University, a public historically Black university in rural Louisiana, to offer real estate development courses to eligible GSU students.

Less than 6% of all real estate professionals are Black, compared to 76% who are white, according to the latest data from the U.S. Census Bureau. The National Association of Real Estate Brokers (NAREB) explains that a shortage of Black real estate agents may be a contributing factor to another issue: a widening gap in Black homeownership. The National Association of Realtors (NAR) estimates that only 42% of the Black population in the U.S. owns a home, compared with 64% of the general population.

“This pilot program will create an awareness of real estate development as a viable career option for Black people,” said Mark Stapp, executive director of ASU’s Master of Real Estate Development (MRED) program and Fred E. Taylor Professor in Real Estate. “Real estate is more than an investment, it’s the physical place we see as community. It builds wealth, creates freedom, houses our economy, and offers opportunity — it’s the foundation for the success of people and a community.”

Under the terms of the year-long agreement, which began March 1, 2021, W. P. Carey will provide institutional guidance, live academic instruction online, and oversight for the pilot program. GSU will be the primary point of contact for eligible student enrollment and academic support during the program.

“This partnership supports GSU students being able to expand their training to include the acquisition of skills associated with real estate,” said GSU Provost and Vice President of Academic Affairs Connie Walton. “GSU students will be able to enroll in online real estate courses that are taught by faculty at Arizona State University. We expect that there will be student interest across disciplines at the university.”

Murphy Cheatham, who serves on the Grambling University Foundation Board and an alumnus of the inaugural W. P. Carey MRED program in 2007, connected the universities and helped put the alliance idea before the Louisiana State University Board of Regents. “The partnership will go a long way in helping foster more diversity in the commercial real estate industry,” Cheatham said.

The dean of Grambling State University’s College of Business, Dr. Donald White, is currently reviewing options related to the establishment of a minor in real estate.

Interested Grambling State University students can sign up for the real estate courses at wpcarey.asu.edu/grambling.

About the W. P. Carey School of Business
The W. P. Carey School of Business at Arizona State University is one of the top-ranked business schools in the United States. The school is internationally regarded for its research productivity and its distinguished faculty members, including a Nobel Prize winner. Students come from more than 100 countries and W. P. Carey is represented by alumni in over 160 countries. Visit wpcarey.asu.edu.

About Grambling State University
Grambling State University, located in Grambling, Louisiana, is a historically black university founded in 1901 that combines the academic strengths of a major university with the benefits of a small college. This combination enables students to grow and learn in a serene and positive environment. The 590-acre campus offers 43 undergraduate and graduate academic programs. A member of the University of Louisiana System, Grambling State University has been accredited by 13 accrediting associations and holds accreditations in all programs required by the Louisiana Board of Regents. With a longstanding tradition of excellence, Grambling State University continues to emphasize the value and importance of each student, exemplified by our motto: Where Everybody Is Somebody.

For more information, contact:
Shay Moser, W. P. Carey School of Business
shay.moser@asu.edu
480-965-3963

Tisha Arnold, Grambling State University
communications@gram.edu
318-243-5012

SOURCE W. P. Carey School of Business at Arizona State University

When we build roads, bridges, ports, communications networks, municipal water systems, and other infrastructure, we are not just putting construction workers and engineers to work — we are also revitalizing communities, protecting public health and safety, connecting people to jobs, empowering entrepreneurs, and making it easier for American businesses to export goods around the world. There is certainly enough work to do, with $2 trillion in deferred maintenance on the Nation’s infrastructure. Built by far-sighted investment over generations, America’s world-class infrastructure is falling behind the rest of the world. As other nations have sought to compete economically by improving infrastructure, U.S. investment lags behind many of its overseas competitors. In the most recent World Economic Forum rankings, the United States had, in less than a decade, fallen from 7th to 18th overall in the quality of its roads. Building a durable and reliable 21st Century infrastructure creates good jobs that cannot be outsourced and will provide American workers and businesses with the transportation and communication networks they need to help grow the economy. The Budget includes significant investments to repair the existing infrastructure and build the infrastructure of tomorrow in smart, efficient, and cost-effective ways.

2.2.1
Long-Term Investments in Upgrading America’s Transportation Infrastructure
To spur economic growth and allow States and localities to initiate sound multi-year investments, the Budget includes a six-year, $478 billion surface transportation reauthorization proposal.

By reinvesting the transition revenue from pro-growth business tax reform, the President’s plan will ensure the health of the Highway Trust Fund for another six years — two years beyond the 2015 Budget GROW AMERICA proposal — and invest in a range of activities to spur and sustain long-term growth. The President’s plan to rebuild America will increase spending to repair and modernize the Nation’s highways and bridges, as well as injecting much needed investment into the existing transit and intercity passenger rail systems. The President’s plan also increases investments to expand new transit projects, link regional economies by funding the development of high-performance rail, and support American exports by improving goods movement within the Nation’s freight rail networks. Small businesses particularly depend on the quality of transportation networks to get goods to market competitively, allowing them to win customers, expand operations, and hire new employees. To help spur innovation and economic mobility, the reauthorization proposal would permanently authorize the competitive TIGER grant program to support projects that bring job opportunities to communities across the United States. The proposal would also advance the President’s Climate Action Plan by building more resilient infrastructure and reducing transportation emissions by responding to the greater demand and travel growth in public transit. Also, to make sure that Americans are driving vehicles that are safe to operate, the reauthorization proposal includes additional resources for investigating automobile defects, improving data collection to better support Government oversight of auto manufacturers, and making changes to hold auto manufacturers more accountable for reporting and responding to vehicle defects.

The Case for Investing in Infrastructure in Today’s Economy

The Budget proposes to invest in infrastructure through a comprehensive six-year surface transportation reauthorization proposal, as well as tax incentives for State and local infrastructure investment, a new Infrastructure Bank, and other initiatives. The Federal Government plays a vital role in infrastructure investment, and the Nation’s roads, bridges, and other surface transportation infrastructure systems are badly in need of upgrades and repairs. For example, 65 percent of America’s major roads are rated in less than good condition and one quarter of U.S. bridges need rehabilitation, replacement, or significant maintenance and repair to remain in service or do not meet current design standards and traffic needs. Although the economic recovery has begun to accelerate, the economy is still operating below capacity, and interest rates remain at very low levels. While infrastructure investment will continue to be needed even after the economy reaches full employment, time is running out to make these needed investments under ideal economic conditions.

A recent study published by the International Monetary Fund (IMF) [1] makes a convincing case that “the time is right for a strong infrastructure push” in advanced economies such as the United States. While infrastructure is critical for economic efficiency and growth, the private sector often fails to make sufficient investment in infrastructure for several reasons, such as positive externalities, large start-up costs, and economies of scale. Thus, in many cases, the public sector can provide infrastructure more efficiently.

Public infrastructure investment promotes economic growth by boosting aggregate demand in the short run and improving economic efficiency in the long run. While infrastructure needs to be financed, the IMF study presents statistical evidence that — under the right conditions — the combination of short- and long-term economic gains from infrastructure investment can offset much of its cost. When many workers are unemployed, infrastructure investment increases total employment, as opposed to bidding workers away from other sectors, thus increasing aggregate demand.

The U.S. economy still has unused capacity. While the unemployment rate has declined significantly and more workers are holding full-time jobs, nearly four percent of the workforce is still working part time for the lack of full-time work, and unemployment rates in the construction sector remain higher than in the economy as a whole. Moreover, the Federal Government remains able to borrow at very low interest rates, with the 10-year Treasury rate ending 2014 below two and a half percent. While the Budget proposes to offset the cost of its new infrastructure investments, it would front-load the investments and pay for them over the 10-year budget window. This pro-growth approach has the potential to realize both the short- and long-term gains from investing in infrastructure, with no risk of higher long-run debt.

The IMF study also highlights the importance of choosing high-efficiency infrastructure projects based on rigorous benefit-cost analysis. The United States has a pent up supply of badly needed infrastructure projects that meet these tests, and the President’s surface transportation plan would result in larger share of funds being allocated through competitive processes.

[1] International Monetary Fund, 2014, “Is It Time for an Infrastructure Push? The Macroeconomic Effects of Public Investment,” in World Economic Outlook: Legacies, Clouds, Uncertainties.

2.2.2
Infrastructure Permitting
To further accelerate economic growth and improve the competitiveness of the American economy, the Administration is taking action to modernize and improve the efficiency of the Federal permitting process for major infrastructure projects. In May 2014, the President announced a comprehensive interagency plan with 15 reforms to turn best practices into common practice. To implement this plan, the 2015 Budget proposed a new Interagency Infrastructure Permitting Improvement Center housed at the Department of Transportation to lead the Administration’s reform efforts across nearly 20 Federal agencies and bureaus. While waiting for the Congress to act, the Administration set-up an interim interagency team to support reforms, such as moving from separate, consecutive reviews to synchronized, simultaneous reviews. For example, the U.S. Coast Guard, the Corps of Engineers, and the Department of Transportation have launched a new partnership to synchronize their reviews for transportation and other infrastructure projects, such as bridges that cross navigation channels. By developing one environmental analysis that satisfies all three agencies, project timelines can be significantly reduced. Building on these efforts, the Budget supports an expanded, publicly available Permitting Dashboard that tracks project schedules and metrics for major infrastructure projects, further improving the transparency and accountability of the permitting process. To accomplish these goals, the Budget proposes $4 million for the Department of Transportation to expand the Federal Infrastructure Permitting Dashboard and fund staff to lead interagency reforms that accelerate progress and improve outcomes. In addition, the Budget includes $4 million for permitting reforms through a proposal to expand interagency transfer authorities, which would institutionalize capacity to address cross-agency management improvements. The Budget also includes additional funding to expedite the consultations required pursuant to the Endangered Species Act, which also will help accelerate permit review timeframes.

2.2.3 — Build America Investment Initiative

The Budget includes support for the Build America Investment Initiative (BAII), a Government-wide, interagency initiative to increase infrastructure investment and promote economic growth by supporting public-private collaboration in major infrastructure sectors such as transportation, water, and telecommunications. As part of the BAII, the Administration has launched investment centers to provide States and municipalities with assistance on securing investment in transportation, water systems, and rural infrastructure. Together, these centers will facilitate direct private investment in U.S. infrastructure and encourage greater public-private collaboration. For example, as part of the BAII, the Department of Transportation established the Build America Transportation Investment Center to serve as a one-stop-shop for cities and States seeking to use innovative financing and partnerships with the private sector to support transportation infrastructure. An Interagency Infrastructure Finance Working Group, co-chaired by the Secretaries of the Treasury and Transportation, delivered recommendations to the President on how to promote awareness and understanding of innovative financing and increase effective public-private collaboration. Building on those recommendations, the Administration has worked with the private sector to launch two additional investment initiatives that will help leverage existing investments in drinking water and wastewater infrastructure and other infrastructure such as hospitals, schools, local and regional food systems, and broadband expansion throughout rural America. Other Federal agencies are also focusing on using existing authorities to increase the private sector’s participation in the financing of public infrastructure. In addition, the Budget proposes to create a new America Fast Forward Bond program that, like its Build America Bond precursor, will provide State and local governments with an optional taxable bond alternative to traditional tax-exempt bonds. The Federal Government will share in the cost of these bonds so they are as affordable to issuers as tax-exempt bonds, proceeds of which can be used to further finance governmental capital projects.

2.2.4 — Launching the National Parks Centennial Initiative

For 100 years, National Park Service (NPS) parks and historic sites have preserved and shared America’s cultural and historical identity. These places present America’s unique history and draw tourists from across the United States and around the world. There is an opportunity to celebrate the centennial anniversary of the Nation’s great parks by providing enhanced park services for visitors, and through targeted investments to improve NPS facilities. This opportunity is an historic effort to upgrade and restore national parks, while putting tens of thousands of Americans to work and engaging and inspiring younger generations to carry the Nation’s parks into the future.

The Budget proposes $860 million in mandatory and discretionary funding to allow NPS, over 10 years, to make targeted, measurable, and quantifiable upgrades to all of its highest priority non-transportation assets and restore and maintain them to good condition. Addressing the critical needs of these assets avoids deterioration and costs for future generations. The Budget also proposes matching funds to leverage private donations for signature projects and programs at national parks. This significant effort ensures America’s national treasures will be preserved over the next hundred years for future generations.

The 1916 Act that created NPS called for parks to be left “unimpaired for the enjoyment of future generations.” The Parks Centennial seeks to live up to this call by providing more opportunities for children to interact with natural areas. This targeted effort involves transporting over a million urban youth a year to national and public lands with dedicated youth coordinators to welcome them and their families. Today’s investment in the next generation of visitors will help build the stewards of America’s national treasures in the future.

This year also marks the 50th anniversary of the Voting Rights Act, which the Budget commemorates by proposing $50 million to restore and highlight key sites across the United States that contributed to the struggle for civil rights. This includes investments in specific NPS sites associated with the 1950s and 1960s civil rights movement, such as the Selma to Montgomery National Historic Trail, Little Rock Central High School National Historic Site, Brown v. Board of Education National Historic Site, and the Martin Luther King, Jr. National Historic Site. State, local, and tribal governments can also apply for historic preservation funds to help them document and preserve stories and sites associated with the struggle.

2.2.5— Smart Investments in Federal Facilities

Investing in the Nation’s federally-owned facilities ensures that mission execution is optimized at the lowest possible cost. Funding reductions in recent years have led to facility deterioration, as well as missed opportunities to consolidate and reduce operating costs. The General Services Administration (GSA) is leading the Federal effort to both invest in Federal facilities and consolidate space to reduce costs and optimize efficiency, saving tens of millions in annual lease costs. The Budget will invest more than $2.5 billion in GSA’s Federal facilities portfolio, an increase of more than $1.1 billion over the enacted level. GSA will invest $1.25 billion in construction and acquisition priorities, including the next phase of the consolidated Department of Homeland Security Headquarters and the first phase of a Civilian Cyber Campus. GSA will also invest more than $900 million in critical repairs and alterations and consolidation activities. The National Aeronautics and Space Administration and the USDA Forest Service will eliminate operating costs by demolishing unneeded facilities. The Smithsonian Institution and DOI will make necessary investments to improve the condition of facilities and reduce operational costs. The Budget invests $60 million to continue renovations of USDA headquarters, and $206 million for the Agricultural Research Service to renovate and construct its facilities. The Budget also invests $1.5 billion for construction projects at the Department of Veterans Affairs (VA), an increase of nearly $500 million over the 2015 enacted level. These investments will enhance the Department’s mission while providing opportunities for long-term savings, as building upgrades and renovations result in a reduced footprint. Government-wide, agencies will continue their efforts to reduce their space in accordance with the Administration’s goal to reduce the Federal footprint. In total, the Budget provides an additional $2.4 billion in capital investment funding over the 2015 enacted level.

MADISON, N.J. — Century 21 Real Estate LLC, today announced that more CENTURY 21® affiliated real estate professionals are represented in the National Association of Hispanic Real Estate Professionals’ (NAHREP) Top 250 Latino Real Estate Agents list than any other national franchise brand. In all, the CENTURY 21 brand had three of the top 5 Latino Real Estate Agents, five of the top 25, and 48 of the Top 250 nationwide.

Marty Rodriguez of CENTURY 21 Marty Rodriguez, Glendora, CA, Johnny Rojas of CENTURY 21 JR Gold Team Realty, Garfield, N.J., and Ricardo Acevedo of CENTURY 21 The Acevedo Team, Rancho Cucamonga, CA, were named the No. 3, 4 and 5 top-producing Latino residential real estate agents, respectively, in the United States. Two other notable CENTURY 21 affiliated professionals made the NAHREP Top 25, or the top 10%: Andreina Simmons, CENTURY 21 Beggins, Tampa, FL (#11) and Alicia Trevino, CENTURY 21 Alicia Trevino Realtors Dallas, TX (#22).

“We are extremely proud of the relationship our affiliates have with NAHREP and this recognition. System members like Marty, Johnny, Ricardo, Andreina and Alicia are uniquely positioned to serve the needs of this important community,” said Rick Davidson, president and chief executive officer, Century 21 Real Estate LLC. “Hispanic home buyers are a major force in the housing market. They value homeownership, are driving population and job growth, and have increasing purchasing power.”

“Congratulations to C21® professionals for their success in the Hispanic real estate market and their well-deserved recognition in the ‘Top 250,’” said Gary Acosta, chief executive officer and co-founder, NAHREP. “We are grateful for their long standing support of NAHREP and wish them continued success in serving the fastest growing demographic in the housing industry.”

The news comes on the heels of the launch of Century21espanol.com, the brand’s revamped Spanish language website, designed to connect Spanish-speaking customers with affiliated sales professionals in the CENTURY 21 System who speak Spanish. Century21espanol.com has translated property listings as well as content pages about the home-buying process developed specifically for the Hispanic community. The site features innovative mapping and a robust school experience and is implemented in a manner to better assist Hispanic consumers.

The award-winning CENTURY 21 affiliated agents will be recognized at the NAHREP 2014 National Convention & Latin Music Festival in Los Angeles, California, on October 14, 2014.

The National Association of Hispanic Real Estate Professionals, a non-profit 501c6 trade association, is based in San Diego. The real estate trade organization for Hispanics has more than 21,000 members in 48 states and 40 affiliate chapters.

About Century 21 Real Estate LLC
Century 21 Real Estate LLC (CENTURY21.com) is the franchisor of the world’s largest residential real estate franchise sales organization, comprised of approximately 7,000 independently owned and operated franchised broker offices in 77 countries and territories worldwide with more than 102,000 independent sales professionals. The CENTURY 21® System provides brand marks, marketing, communications and innovative technology solutions that help enable its franchisees and their independent agents to attract and engage prospects, nurture customers, and deliver a positive real estate transaction experience.

The CENTURY 21 Brand, as identified by consumers from a list of real estate agencies in the Millward Brown 2013 Ad Tracking Study, is the most recognized brand name in real estate, and the industry leader in brand awareness – a position it has held since 1999.

C21® System members are active members of the communities in which they live and work, having raised over $108 million in total contributions to Easter Seals since 1979.

Century 21 Real Estate LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services.
© 2014 Century 21 Real Estate LLC. All Rights Reserved. CENTURY 21, the CENTURY 21 Logo are registered service marks owned by Century 21 Real Estate LLC. Century 21 Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each Office is Independently Owned and Operated.

LAS VEGAS – Century 21 Real Estate LLC, franchisor of the world’s largest real estate franchise sales organization, today announced the launch of C21 Social XchangeSM, in conjunction with agreements with Google and Videolicious. Through an industry-first licensing agreement with Google, a co-marketing agreement with Google Adwords, and a comprehensive licensing agreement with Videolicious, the C21 Social Xchange combines a comprehensive social media marketing, communications and advertising tool suite for CENTURY 21® System professionals.

“The C21 Social Xchange empowers our independent sales professionals to easily build relationships and grow their sphere of influence,” said Bev Thorne, chief marketing officer, Century 21 Real Estate LLC. “Real estate is a people business, and today many business relationships begin online. CENTURY 21® agents are the only real estate professionals to benefit from such a partnership with Google, a recognized leader in relationship marketing.”

The agreements with Google provide CENTURY 21 sales associates in the United States with a license for Google’s social tools, and a special program to help them get started on Google Adwords Express. Google AdWords Express is a quick and easy way to advertise local businesses on Google.

“CENTURY 21 continues to be an innovator in online marketing,” said Sam Sebastian, director, local, Google, Inc. “We brought this unique combination of tools and programs to the CENTURY 21 System because of their forward-looking marketing strategy. I am very excited that Google tools will play a role in helping CENTURY 21 sales associates to remain on the leading edge of online marketing and advertising.”

In addition CENTURY 21 System members in the United States will have access to an enterprise-level license with Videolicious. The Videolicious mobile app empowers all CENTURY 21 System members to create professional-quality video productions and post to YouTube in seconds.

“The power of video marketing cannot be overstated,” said Matt Singer, co-founder, Videolicious. “Through this agreement, CENTURY 21 sales associates may now leverage that power to enhance their online marketing and drive more business opportunities.”

About Century 21 Real Estate LLC:
Century 21 Real Estate LLC (CENTURY21.com) is the franchisor of the world’s largest residential real estate franchise sales organization, providing comprehensive training and marketing support for the CENTURY 21 System. The System is comprised of approximately 7,100 independently owned and operated franchised broker offices in 74 countries and territories worldwide with more than 103,000 independent sales professionals. Century 21 Real Estate LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services.

This news is courtesy of www.century21.com

The booming U.S. energy market, robust housing recovery and strengthening economy are creating growth opportunities for investors of non-financial specialty assets, including farmland, timberland, real estate, private businesses, and oil and gas, according to U.S. Trust. In a report published today on its 2014 outlook for non-financial assets, U.S. Trust’s Specialty Asset Management group said it expects strong performance from the asset class and that it is a market poised for long-term growth.

“When you factor in long-term market trends – population growth, economic development in emerging markets and the correlating demands on energy, food and housing – we see a strong growth opportunity emerging for non-financial assets,” said Dennis Moon, national executive of U.S. Trust’s Specialty Asset Management group that manage separate accounts for high net worth investors in real assets.

“Furthermore, the factors that drive the value of these assets are unique and independent of the volatile forces often at play in the broader market, making these investments highly attractive and an important consideration in the construction of a balanced portfolio.”

In its outlook for 2014, U.S. Trust takes an in-depth look at the opportunities for five key non-financial asset categories:

Timberland: Demand for timber is expected to grow as the U.S. housing recovery moves into high gear and competition for resources heats up between pulp and paper mills and renewable energy plants fueling the fast-growing woody biomass market. Timber pricing is rebounding from historic lows and will likely continue to rise as supplies tighten and demand accelerates. These market fundamentals, combined with low return volatility and tax efficiency, suggests a strong 2014 for timberland investments.

Farm and ranch land: With a 4 percent, or in some cases higher, cash yield expected in 2014, farmland remains a favorable investment opportunity. In 2014, farm and ranch land prices are expected to level off as more normal slow growth is anticipated for commodities including corn, soybeans and wheat, spurred by macro-trends such as global population growth. As farmer-investors become more conservative and land prices level off, more opportunities for farmland deals are expected to emerge for long-term investors.

Oil and gas properties: As demand for energy accelerates and the U.S. moves ever closer to energy independence, oil and gas investment activities will continue to be a big area of focus. With the apparent worldwide economic improvement, in conjunction with the transforming energy efficiencies and correlating demands, the stage is set for investment opportunities in energy over the long term.

Commercial real estate: Economic improvements in 2013, both domestic and abroad, translated into stronger demand in the U.S. commercial real estate market, with the office, retail, multi-family and industrial segments all posting improvements for the year in vacancy, rents and valuation. The outlook remains positive overall for commercial real estate investors in 2014; however, there will be variances by product type and market. In the year ahead, multi-housing rent growth is expected to moderate and vacancy rates may slightly rise. Office and industrial properties are seeing continued rent growth but also shifts in tenant preferences for more functional space and amenities. Renovation will likely be the dominant focus of investments in retail properties as many markets continue to deal with “dead centers.”

Private businesses: As an investment class, private businesses are expected to offer a breadth of opportunities both for domestic and foreign acquirers in the year ahead, along with an increase in the inventory for buyers and the number of interested sellers. Positive balance sheet growth should continue to strengthen in 2014, and business owners are benefitting from strong credit opportunities at favorable rates, which should spur M&A activity. However, the pace of private company investment activity may be slowed as business owners face the still unknown impact of the Affordable Care Act on their cost of doing business.

“Non-financial assets can be an effective diversifier to a portfolio of financial assets, and we’re seeing this asset class become an increasing focus for many of our clients, both individual and institutional investors with access to the amount of capital needed for direct investments1,” added Moon. “By their nature, these are unique investments, and the assets themselves need to be managed to maximize the value of the deal and the investment’s income-producing potential.”

The Specialty Asset Management team at U.S. Trust offers strategic insight and specialized experience required to manage and maximize the potential of these investments. Led by Dennis Moon, the executive team includes:

Doug Donnell, national Timberland executive.
John Taylor, national Farm and Ranch executive.
Dick Sadler, national Oil and Gas executive.
Andrew Tanner, national Private Business and Real Estate Services executive.
A copy of U.S. Trust’s 2014 Outlook on non-financial assets is available at www.ustrust.com/sam along with additional whitepapers from the specialty asset management group at U.S. Trust.

1Note: Oil, gas and mineral interests are not available for direct investment through U.S. Trust.

U.S. Trust
U.S. Trust, Bank of America Private Wealth Management is a leading private wealth management organization providing vast resources and customized solutions to help meet clients’ wealth structuring, investment management, banking and credit needs. Clients are served by teams of experienced advisors offering a range of financial services, including investment management, financial and succession planning, philanthropic and specialty asset management, family office services, custom credit solutions, financial administration and family trust stewardship.

U.S. Trust is part of the Global Wealth and Investment Management unit of Bank of America, N.A., which is a global leader in wealth management, private banking and retail brokerage. U.S. Trust employs more than 4,000 professionals and maintains 140 offices in 32 states.

As part of Bank of America, U.S. Trust can provide access to a broad range of banking solutions for individuals and businesses, and an extensive retail banking platform.

Bank of America
Bank of America is one of the world’s largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 50 million consumer and small business relationships with approximately 5,100 retail banking offices and approximately 16,300 ATMs and award-winning online banking with 30 million active users and more than 14 million mobile users. Bank of America is among the world’s leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

Non-financial assets, such as closely-held businesses, real estate, oil, gas and mineral properties, and timber, farm and ranch land, are complex in nature and involve risks including total loss of value. Special risk considerations include natural events (for example, earthquakes or fires), complex tax considerations, and lack of liquidity. Nonfinancial assets are not suitable for all investors. Always consult with your independent attorney, tax advisor, investment manager, and insurance agent for final recommendations and before changing or implementing any financial, tax, or estate planning strategy.

Energy and natural resources stocks have been volatile. They may be affected by rising interest rates and inflation and can also be affected by factors such as natural events (for example, earthquakes or fires) and international politics.

Diversification does not ensure a profit or protect against loss in declining markets.

U.S. Trust operates through Bank of America, N.A., and other subsidiaries of Bank of America Corporation. Bank of America, N.A., Member FDIC.

This news is courtesy of www.bankofamerica.com

SAN JOSE, Calif., – Buyers and sellers can now create the home of their dreams and worst nightmares on realtor.com®. Just in time for Halloween, realtor.com®, a leading provider of online real estate services operated by News Corp subsidiary Move, Inc. today announced the launch of “Build Your Own Haunted House.”

Haunted House
Consumers can build a spooky home complete with haunts and sounds and share it via email, Facebook or Twitter any time during the month of October. The haunted house option offers a menu of animated and customizable options such as lighting color to adorn the outside of the home as well as lawn features, including a customizable for-sale sign, tombstones, jack-o-lanterns and skeletons. Spooky homes also can be customized with flying features that include witches, ghosts, crows, or bats, and sounds from wailing ghosts, shrieking witches, thunder or wind to add even more fright.

Since no Halloween is complete without a creepy costume, users also have the option to place a headshot onto a zombie as part of their scary home scene. Once the house is complete, it comes alive with the sights and sounds of Halloween.

“At realtor.com, we want to make the home experience enjoyable, and what’s more fun than having the opportunity to build your own haunted house and share it with friends and family,” said Nate Johnson, chief marketing officer for realtor.com®. “This speaks to the brand experience we are trying to create at realtor.com.”

Users are invited to “Share the Scare” with all their friends, an option which encourages them to show off their creepy creation by either sending a “Happy Halloween” email-o-gram with a personalized note or posting their haunted house to Twitter or Facebook.

Realtor.com®’s “Build Your Own Haunted House” will be available until midnight on Oct. 31.

About Move, Inc. and realtor.com®
Move, Inc. operates the realtor.com® website and mobile experiences, which provide buyers, sellers and renters of homes with the information, tools and professional expertise they need to discover and create their perfect home. News Corp [NASDAQ: NWS, NWSA; ASX: NWS, NWSLV] acquired Move in November 2014, and realtor.com® quickly established itself as the fastest growing online real estate service provider in the first half of 2015 as measured by comScore.

As the official website of the National Association of REALTORS®, consumers know they can look to realtor.com® for the most comprehensive and accurate information anytime, anywhere. With relationships with more than 800 multiple listing services (MLS), realtor.com® has more than 3 million for-sale listings, which account for more than 97 percent of all MLS-listed for-sale properties. More than 90 percent of the listings are updated every 15 minutes. Move’s network of websites provides consumers a wealth of innovative tools, including Doorsteps®, Moving.com™, SeniorHousingNetSM and others. Move supports real estate professionals by providing many services to grow their businesses in an increasing digital, on-demand world, including ListHub™, the nation’s leading listing syndicator and centralized intelligence platform for the real estate industry; TigerLead®; Top Producer® Systems; and FiveStreetSM and Reesio as well as many free services.

SEATTLE — Seattle Mayor Jenny A. Durkan and King County Executive Dow Constantine today unveiled a new Zillow-powered search tool to help match local nonprofit service providers and their clients experiencing homelessness with owners of affordable vacant rental units.

A project borne of Mayor Durkan’s Innovation Advisory Council, and launched in 2018; the new search tool was developed by a team of Zillow employees in close partnership with the Seattle Office of Housing, local nonprofit organization Housing Connector and its network of service providers and property owners. The Innovation Advisory Council – whose members come from the corporate, academic, and nonprofit sectors – collaborates with the City of Seattle to use data and technology to solve Seattle’s most urgent challenges in the areas of homelessness, affordability, mobility, delivery of essential services, and more.
Zillow’s search tool directly addresses one of the biggest challenges for case managers searching for affordable housing for their clients experiencing homelessness. Case managers no longer have to laboriously look for available homes property-by-property; the units are now at their fingertips through Zillow’s online listing platform.
Through Zillow’s search tool, Housing Connector partner landlords will be able to quickly upload housing inventory, and local non-profit service providers will be able to find housing inventory in real time for tenants who need affordable housing. Housing Connector landlords have adjusted or waived criteria that would normally prevent those most in need from qualifying for the home. Thirty-five landlords throughout Seattle and King County and 42 nonprofit service providers are active on the platform as it launches, with more partners expected to be added. Zillow’s search tool does not require or knowingly collect the personal information of tenants and no user information through Housing Connector is sold to third parties.
“We are fortunate to live in one of the most innovative, talent-rich ecosystems anywhere on the planet – and for too long, our government has existed as if we have no relationship to it. I created the Innovation Advisory Council because we know that the challenges facing our region cannot be addressed by government alone,” said Mayor Durkan. “I am incredibly proud of the work that Zillow and the Housing Connector have done to make it easier for people experiencing homelessness to find affordable housing and for affordable housing providers to connect with those in need. Zillow, Housing Connector, and the Seattle Office of Housing have shown that by working together, we can find truly innovative solutions to some of our region’s most pressing challenges.”
“Zillow’s new application streamlines the connection between property managers who have apartments available and families who need housing now,” said Executive Constantine. “We are grateful for their partnership with our Housing Connector program and for their commitment to being part of the solution to the crisis of homelessness in our region.”
“Our community desperately needs more affordable housing,” said Shkelqim Kelmendi, Executive Director of Housing Connector. “And while we’re working to build that housing, individuals experiencing homelessness can’t wait; they need a home today. Together with Zillow, we are thrilled to launch this new search tool to scale our impact and streamline how individuals access housing with reduced screening criteria, ultimately decreasing the time a unit sits vacant and the number of days a family must experience homelessness.”
“As a company headquartered in Seattle, Zillow is committed to doing what we can to help address one of the greatest challenges facing our region today: housing affordability and homelessness. When asked by the mayor to serve on her Innovation Advisory Council and work with Housing Connector — which needed a better way to find and surface available housing inventory — we saw an opportunity to use our unique skillset to build a tool that will help Housing Connector fulfill its mission to help families find a home,” said Racquel Russell, vice president of government relations and public affairs for Zillow. “Through the leadership and support of Mayor Durkan and Executive Constantine and a tremendous amount of hard work by some of our most talented employees and engineers, we are excited and honored to launch this new tool that we hope will make a meaningful difference in the lives of our neighbors.”
A coalition of private and public partners including the Seattle Metropolitan Chamber of Commerce, the City of Seattle and King County launched Housing Connector last year to help private property owners and landlords easily and successfully rent to people experiencing homelessness. The City of Seattle and King County developed the initiative with a business to business approach as a key component of homelessness systems change based on the belief that leveraging existing housing in the private market can meaningfully reduce homelessness.
To help attract private property owners and landlords as partners, Housing Connector provides free referrals to ready-to-rent residents and financial support to cover a variety of costs (ensuring access to benefits that include rent guarantee, security deposits, damage mitigation funds, and unit hold fees, etc.). In exchange, property owners will adjust criteria or lower barriers for potential tenants, opening up units that previously were out of reach for individuals experiencing homelessness.
To date, Housing Connector already has found homes for 460 individuals and families experiencing homelessness in the region. Thanks to the services and support provided by Housing Connector, renters referred by the organization can find and move into their next home nearly 30 percent faster than the same renters facing similar barriers without the support of Housing Connector. This new tool housed on Zillow.com will help drive that wait time even lower.

NEW YORK, Dec. 17, 2021 /PRNewswire/ — Real estate developers of color in Nashville, Tennessee, Northern Virginia and Washington state’s Puget Sound region are eligible for organizational capacity building and project-related grants from Enterprise Community Partners (Enterprise) through a $5 million grant from The Amazon Housing Equity Fund. The funds will help developers of color scale their operations and seed their pipeline of affordable housing projects.

“Talented developers of color face a massive capital gap from decades of systemic racism that makes it harder to both grow their businesses and serve their communities. We are excited to work with Amazon to close that gap,” said Priscilla Almodovar, president and chief executive officer, Enterprise. “The partnership is perfectly aligned with Enterprise’s $3.5 billion ‘Equitable Path Forward’ initiative to advance racial equity in the real estate industry.”

As part of Equitable Path Forward, Enterprise is working to reshape the affordable housing industry to better reflect the communities it serves. Just 2% of development companies are Black-led, and minority-led real estate firms control only 1.5% of real estate assets under management. Housing providers of color lack access to sufficient capital to grow their operations or real estate portfolios when equity and debt are out of reach. Enterprise is channeling debt, grants, equity and other opportunities to developers of color to create lasting change.

The flexible capital funded through the Amazon grant will enable organizations to build needed capacity to scale their real estate operations, including growing and training staff, board of director training and enhancing operations like accounting and technology. Specific project support in the form of predevelopment grants can be provided for feasibility analysis, legal and consultant fees, and other costs typically associated with developing affordable housing.

The $5 million grant comes from the Amazon Housing Equity Fund, a more than $2 billion fund dedicated to creating and preserving 20,000 affordable homes for individuals and families earning moderate- to low- incomes in Washington state’s Puget Sound region; the Arlington, Virginia region; and Nashville, Tennessee—three communities where Amazon has a large and growing presence.

“If we are going to bring about lasting, holistic, and meaningful change to how affordable housing is developed, developers of color need to be a part of the solution,” said Catherine Buell, director of the Amazon Housing Equity Fund.

About Enterprise Community Partners
Enterprise is a national nonprofit that exists to make a good home possible for the millions of families without one. We support community development organizations on the ground, aggregate and invest capital for impact, advance housing policy at every level of government, and build and manage communities ourselves. Since 1982, we have invested $44 billion and created 781,000 homes across all 50 states – all to make home and community places of pride, power and belonging. We support community resilience nationwide and are working to reform national policy to make disaster recovery faster and more equitable. Join us at Enterprise Community Partners.

SOURCE Enterprise Community Partners, Inc.

CONTACT: Jordan Miller, 212-784-5703, jmiller@groupgordon.com

WASHINGTON, DC – Fannie Mae (FNMA/OTC), provided $28.8 billion in financing to the multifamily market in 2013, working with lender partners to finance 507,000 units of multifamily housing. Approximately 99 percent ($28.5 billion) of the loans that Fannie Mae financed in 2013 were delivered through MBS execution. Fannie Mae met the Federal Housing Finance Agency’s goal to reduce multifamily volumes by 10 percent relative to 2012 levels, achieving 95 percent of its total volume capacity.

“I am proud that Fannie Mae continued to serve the multifamily market in 2013 with $28.8 billion of new acquisitions,” said Jeffery Hayward, Senior Vice President and Head of the Multifamily Mortgage Business, Fannie Mae. “The need for quality, affordable rental housing is greater today than it’s ever been, and we will continue to do our part by providing liquidity, stability and affordability to the multifamily market and maintaining our credit standards. Over 85 percent of the multifamily units we financed in 2013 were affordable to families earning at or below the median income in their area.”

For 26 years, Fannie Mae has relied on its Delegated Underwriting and Servicing (DUS®) program to play a significant role in the multifamily housing market. The DUS program relies on shared risk with Lenders, or “skin in the game,” and provides certainty and speed of execution, delegated underwriting and servicing, competitive pricing, and strong credit risk management. DUS Lenders delivered 99 percent of Fannie Mae’s 2013 multifamily loan acquisitions.

“Thanks to our 24 DUS Lenders, 2013 was another terrific year for multifamily production,” said Hilary Provinse, Vice President for Multifamily Customer Engagement, Fannie Mae. “As the competitive landscape heats up in 2014, we will rely on the strength of our delegated model and the flexibility of our single loan MBS to help our Lenders achieve their production goals as we continue to build a solid book of business.”

The following are the top 10 DUS Lenders that produced the highest volume in 2013, as well as the top 5 DUS Lenders that produced the highest volume in the multifamily affordable housing and seniors housing categories in 2013, listed in descending order:

Top 10 DUS Producers in 2013:

1. Walker & Dunlop, LLC
2. Wells Fargo Multifamily Capital
3. CBRE Multifamily Capital, Inc.
4. Beech Street Capital, LLC
5. Berkadia Commercial Mortgage, LLC
6. Prudential Mortgage Capital Company
7. M&T Realty Capital Corporation
8. PNC Real Estate
9. Arbor Commercial Funding, LLC
10. Berkeley Point Capital LLC

Top 5 DUS Producers for
Multifamily Affordable Housing in 2013:

Wells Fargo Multifamily Capital
Oak Grove Capital
Greystone Servicing Corporation, Inc.
Walker & Dunlop, LLC
TIE: Citibank, N.A. and PNC Real Estate
Top 5 DUS Producers for
Seniors Housing in 2013:

KeyBank National Association
Oak Grove Capital
CBRE Multifamily Capital, Inc.
Berkadia Commercial Mortgage, LLC
Red Mortgage Capital, LLC
Production highlights for individual business categories, which are part of the overall total 2013 multifamily investment number are listed below.

Multifamily Affordable Housing – (financing for rent-restricted properties and properties receiving other federal and state subsidies) $2.3 billion, a decrease from 2012’s $3.8 billion
Small Loans – (loans of up to $3 million, or $5 million in high cost areas) $2.3 billion, down from $3.0 billion in 2012
Large Loans – (loans $25 million or higher) $10.4 billion, down from $11.6 billion in 2012
Manufactured Housing Communities – $1.0 billion, an increase from $912 million in 2012
Student Housing – $454 million, a decrease from $712 million in 2012
Structured Transactions – $1.9 billion, a slight increase from 2012’s $1.8 billion
Seniors Housing – $1.6 billion, up from 2012’s $1.2 billion
As the largest source of financing in the multifamily sector, Fannie Mae remains a reliable partner across the spectrum of the nation’s rental housing needs.

This Press Release is courtesy of www.fanniemae.com

WASHINGTON, DC – Fannie Mae (FNMA/OTC) announced today that it will suspend evictions of foreclosed single-family properties during the holiday season. The suspension of evictions will apply to single-family and 2-4 unit properties from December 18, 2017 through January 2, 2018. During this period, legal and administrative proceedings for evictions may continue, but families will be allowed to remain in the home.

“We’re taking steps to support families and to extend the timeline of help for struggling borrowers during the holidays,” said Jacob Williamson, Vice President of Single-Family Distressed Assets at Fannie Mae. “We also encourage homeowners who may be struggling with their mortgage to reach out to Fannie Mae or their servicer to get help. Options are available to avoid foreclosure, and we want to help pursue those options whenever possible.”

Homeowners can visit www.knowyouroptions.com for resources on how to prevent foreclosure, including how to find out if Fannie Mae owns their loan. Homeowners also can contact Fannie Mae at 1-800-232-6643 for more information.

Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit fanniemae.com and follow us on twitter.com/FannieMae.

WASHINGTON, DC – Fannie Mae (FNMA/OTCQB) today announced the results of its thirty-first reperforming loan sale transaction. The deal, announced on April 16, 2024, included the sale of 6,484 loans totaling $1.47 billion in unpaid principal balance (UPB), offered in three pools. The winning bidder was Pacific Investment Management Company LLC (PIMCO) for Pools 1, 2 and 3, each awarded individually. The transaction is expected to close by June 25, 2024. The pool was marketed with Citigroup Global Markets Inc. as advisor.

The loan pool awarded in this most recent transaction includes:

Pool 1: 2,959 loans with an aggregate UPB of $667,197,001; average loan size of $225,481; weighted average note rate of 3.204%; and weighted average broker’s price opinion (BPO) loan-to-value ratio of 48%.
Pool 2: 2,197 loans with an aggregate UPB of $498,589,899; average loan size of $226,941; weighted average note rate of 3.208%; and weighted average broker’s price opinion (BPO) loan-to-value ratio of 49%.
Pool 3: 1,328 loans with an aggregate UPB of $299,535,261; average loan size of $225,554; weighted average note rate of 3.201%; and weighted average broker’s price opinion (BPO) loan-to-value ratio of 49%.
The cover bid, which is the second highest bid for the pool, was 78.554% of UPB (32.30% of BPO) for Pool 1, 78.640% of UPB (32.70% of BPO) for Pool 2 and 78.870% of UPB (32.72% of BPO) for Pool 3.

Reperforming loans are loans that have been or are currently delinquent but have reperformed for a period of time. The terms of Fannie Mae’s reperforming loan sale require the buyer to offer loss mitigation options to any borrower who may re-default within five years following the closing of the reperforming loan sale. All purchasers are required to honor any approved or in-process loss mitigation efforts at the time of sale, including forbearance arrangements and loan modifications. In addition, purchasers must offer delinquent borrowers a waterfall of loss mitigation options, including loan modifications, which may include principal forgiveness or payment deferral prior to initiating foreclosure on any loan.

Interested bidders can register for ongoing announcements, training, and other information here. Fannie Mae will also post information about specific pools available for purchase on that page.

About Fannie Mae
Fannie Mae advances equitable and sustainable access to homeownership and quality, affordable rental housing for millions of people across America. We enable the 30-year fixed-rate mortgage and drive responsible innovation to make homebuying and renting easier, fairer, and more accessible. To learn more, visit:
fanniemae.com | Twitter | Facebook | LinkedIn | Instagram | YouTube | Blog

WASHINGTON, DC – Fannie Mae (FNMA/OTC) provided $1.6 billion in financing to the multifamily market to support small loans comprising over 33,000 units in 2015. Over ninety percent of the small loan units the company financed in 2015 supported affordable and workforce housing.*

“Small loans are a critical part of the work we do to make affordable, quality rental housing a reality for renters in urban areas and smaller markets across the nation,” said Bob Simpson, Multifamily Vice President for Affordable, Green, and Small Loans, Fannie Mae. “We have been financing small loans for nearly 20 years and since 2009 we have provided over $17 billion in liquidity to the small loan market primarily through our Delegated Underwriting and Servicing (DUS®) lenders.”

Owners of smaller properties have unique financing needs and Fannie Mae offers a variety of product offerings, streamlined underwriting and processing, and increased delegations to its Small Loan lenders. Fannie lenders are delegated the ability to underwrite, close, deliver, and service small loans, which provides greater speed and certainty of execution.

Below are the 5 DUS lenders that produced the highest volume in Small Loans in 2015, listed in descending order:

Greystone Servicing Corporation, Inc.
Arbor Commercial Funding, LLC
Walker & Dunlop, LLC
Hunt Mortgage Group
PNC Real Estate

Providing liquidity to the rental market has been the core mission of Fannie Mae Multifamily for nearly 30 years. The company’s unique DUS platform relies on shared risk and leverages private capital through its DUS lenders, who retain more than 20% of the credit risk on Fannie Mae’s entire multifamily guaranty book of business, as of December 31, 2015.

As the most reliable source of financing in the multifamily sector, Fannie Mae is committed to serving the spectrum of the nation’s rental housing needs.

*Small loans are defined as loans of $3 million or less nationwide and $5 million or less in high-cost markets, as well as properties with 5 to 50 units. Affordable and workforce housing is defined as units affordable to families earning at or below 120% of the median income in their area.

Fannie Mae enables people to buy, refinance, or rent homes.

Fannie Mae (FNMA/OTC) today announced that it will not utilize its second (January 24th) Benchmark Notes® announcement date this month. As announced in our 2018 Benchmark Securities Issuance Calendar, the company may forego any scheduled Benchmark Notes issuance.

Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit fanniemae.com and follow us on twitter.com/FannieMae.

WASHINGTON, DC – Fannie Mae’s Economic & Strategic Research Group today launched the Fannie Mae Home Purchase Sentiment Index™ (HPSI), which distills results from its consumer-focused National Housing Survey™ (NHS) into a single, monthly, predictive indicator. Reflecting more than four years of data, the HPSI is designed to provide distinct signals about the direction of the housing market, helping industry participants to make better informed business decisions.

Unlike existing general indices of consumer economic sentiment, the HPSI is devoted entirely to housing. The index is constructed from answers to six key NHS questions that solicit Americans’ evaluations of housing market conditions and address topics related to their home purchase decisions. These questions ask consumers whether they think it is a good or bad time to buy or to sell a house, the direction they expect home prices and mortgage interest rates to move, how concerned they are about losing their jobs, and whether their incomes are higher than they were a year earlier. The Economic & Strategic Research Group expects to release the HPSI at 8:30 a.m., ET on the seventh day of each month or the first business day afterward.

“The Fannie Mae Home Purchase Sentiment Index provides the market a single number to track consumer attitudes focused on the housing market,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “Utilizing our National Housing Survey, the only consumer sentiment survey of its kind focused on housing, the HPSI will offer insights regarding current and future-looking housing market outcomes and will complement existing data sources to inform housing-related analysis.”

“Consumer attitudes toward the current home selling climate have slid back to their April 2015 level, contributing to a slight decline in the August HPSI reading relative to its four-year high, reached two months ago,” said Duncan. “Expectations of rising mortgage rates and increasing concerns in the last six months about the direction of the economy seem to be weighing on consumers’ assessment of the housing market. Those who think it’s a good time to buy or sell a home have consistently pointed to favorable mortgage rates as the primary reason for their optimism. Those who think it’s a bad time to buy or sell a home have consistently pointed to unfavorable economic conditions as the primary reason for their pessimism. Still, the four-year upward trend in the HPSI indicates that consumers remain fairly optimistic about the housing market.”

HOME PURCHASE SENTIMENT INDEX – COMPONENT HIGHLIGHTS
The August 2015 HPSI fell 0.5 points to 80.8, continuing the decline from the all-time high reached in June 2015. The HPSI is up 5.3 points since this time last year. On net, two components of the HPSI improved in August, with Confidence About Not Losing Job increasing 3 points and Good Time to Sell increasing 1 point. Home Price and Mortgage Rate net expectations both fell 3 points since last month.
•The percent of respondents who said that it is a good time to buy a house rose to 63%, rising 2 percentage points from last month’s all-time survey low.
•Those who say it is a good time to sell rose 2 percentage points to 47%. The percent of respondents who say it is a bad time to sell also increased to 44%.
•The percent of respondents who said that home prices will go up over the next 12 months fell to 47%. The percent who said that home prices will go down rose to 9%.
•The share who expect mortgage interest rates to go up in the next 12 months rose 3 percentage points to 54%. The share who say mortgage rates will go down remained the same at 5%.
•The share of respondents who say they are not concerned with losing their job rose to 83%, while the share of respondents who say they are concerned with losing their job fell to 16%.
•The share of respondents who say their household income is significantly higher than it was 12 months ago fell to 24%, while those who say it is significantly lower fell to 12%.

ABOUT THE FANNIE MAE HOME PURCHASE SENTIMENT INDEX
The Fannie Mae Home Purchase Sentiment Index™ (HPSI) distills information about consumers’ home purchase sentiment from the Fannie Mae National Housing Survey™ (NHS) into a single number. The HPSI reflects current and forward-looking housing market outcomes and complements existing data sources to inform housing related analysis and decision making. The HPSI is constructed from answers to six NHS questions that solicit consumers’ evaluations of housing market conditions and address topics that are related to their home purchase decisions. The questions ask consumers whether they think that it is a good or bad time to buy or to sell a house, what direction they expect home prices and mortgage interest rates to move, how concerned they are about losing their jobs, and whether their incomes are higher than they were a year earlier.

The six questions of the Home Purchase Sentiment Index include:
•In general, do you think this is a very good time to buy a house, a somewhat good time, a somewhat bad time, or a very bad time to buy a house?
•In general, do you think this is a very good time to sell a house, a somewhat good time, a somewhat bad time, or a very bad time to buy a house?
•During the next 12 months, do you think home prices in general will go up, go down, or stay the same as where they are now?
•During the next 12 months, do you think home mortgage interest rates will go up, go down, or stay the same as where they are now?
•How concerned are you that you will lose your job in the next twelve months? Are you very concerned, somewhat concerned, not very concerned, or not at all concerned that you will lose your job in the next twelve months?
•How does your current monthly household income compare to what it was twelve months ago?

ABOUT THE FANNIE MAE NATIONAL HOUSING SURVEY
The most detailed consumer attitudinal survey of its kind, Fannie Mae’s National Housing Survey™ polled 1,000 Americans via live telephone interview to assess their attitudes toward owning and renting a home, home and rental price changes, homeownership distress, the economy, household finances, and overall consumer confidence. Homeowners and renters are asked more than 100 questions used to track attitudinal shifts, six of which are used to construct the HPSI (findings are compared to the same survey conducted monthly beginning June 2010). To reflect the growing share of households with a cell phone but no landline, the National Housing Survey has increased its cell phone dialing rate to 60 percent as of October 2014. For more information, please see the Technical Notes. Fannie Mae conducts this survey and shares monthly and quarterly results so that we may help industry partners and market participants target our collective efforts to stabilize the housing market in the near-term, and provide support in the future. The August 2015 National Housing Survey was conducted between August 1, 2015 and August 24, 2015. Most of the data collection occurred during the first two weeks of this period. Interviews were conducted by Penn Schoen Berland, in coordination with Fannie Mae.

WASHINGTON, DC – Fannie Mae (FNMA/OTC) today announced the launch of its Sustainable Communities Innovation Challenge (The Challenge). The company will commit $10 million over two years to attract promising ideas that will help it address the nation’s affordable housing issues. The company expects to receive proposals from across the public, private, and nonprofit sectors. Fannie Mae is seeking proposals to effectively increase access to sustainable communities that Fannie Mae, working with other industry stakeholders, can ultimately scale.

“The Challenge is a responsible way for Fannie Mae to uncover and explore innovative solutions to help address the affordable housing crisis in America. It supports our broad mission to increase housing opportunities across the country that are safe, sustainable, and affordable,” said Jeffery Hayward, Executive Vice President and Head of Multifamily, Fannie Mae. “We are excited to collaborate with new partners to source innovative ideas from other sectors.”

The Challenge is part of Fannie Mae’s corporate-wide initiative, Sustainable Communities Partnership and Innovation. The initiative focuses on developing collaborative, cross-sector approaches to advancing sustainable communities – safe, stable, and thriving communities that provide residents with integrated access to quality affordable housing and opportunities for employment, health and wellness, and education.

“Housing is inextricably linked to the broader community. Accordingly, we recognize that in order to affect systemic change, affordable housing must be approached holistically, by focusing on where it intersects with key components of a sustainable community,” said Maria Evans, Vice President, Sustainable Communities Partnership and Innovation. “With The Challenge, we are looking for new concepts, designs, and ways of solving our nation’s affordable housing issues from innovators who are working inside and outside of the traditional housing industry. Great ideas can come from anywhere.”

The Challenge will be broken into three phases, each focused on a different affordable housing challenge. The first phase is designed to advance the research, design and development of new ideas and innovative solutions that meet at the intersection of affordable housing and economic and employment opportunities. The first phase, starting December 18, 2017 and accepting proposals through February 23, 2018, seeks ideas to:

Expand access to affordable housing in sustainable communities where strong employment opportunities are typically accompanied by high housing costs; and
Improve access to quality employment opportunities for residents of existing affordable housing, while making sure housing is affordable to more people.
Proposals will be evaluated against a predetermined set of criteria set forth in the Request for Proposal (RFP) and will go through multiple rounds of review, including a semi-final review by an Expert Advisory Panel comprised of leaders from public, private, and nonprofit sectors. Fannie Mae will make final contract award decisions.

To learn more about The Challenge, including eligibility requirements, or to submit a proposal, please visit www.fanniemae.com/thechallenge.

Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit fanniemae.com and follow us on twitter.com/fanniemae.

WASHINGTON, DC – Today, Fannie Mae (FNMA/OTC) announced the HomePath®Ready Buyer™ program, qualifying first-time homebuyers to receive up to three percent of the purchase price in closing cost assistance toward the purchase of a HomePath property, upon completion of an online homebuyer education course. On a $150,000 home, this could result in up to $4,500 in savings for the buyer. In addition, Fannie Mae will reimburse the $75 cost of the homebuyer education course at the time of closing.

“Purchasing your first home can be an overwhelming process,” said Jay Ryan, Vice President of REO Sales, Fannie Mae. “We developed the HomePath Ready Buyer program to provide first-time homebuyers with the knowledge to make informed decisions as they navigate the complexities of the home buying process. Closing cost assistance provides a cushion many first-time buyers need to more confidently face the financial responsibilities of homeownership.”

Fannie Mae has partnered with Framework®, a nonprofit created by the Housing Partnership Network and the Minnesota Homeownership Center, to offer homebuyers a homeownership education course that covers both the complexities of home buying and the responsibilities of owning a home. The course contains nine, thirty-minute sessions and is entirely online.

To be eligible for the closing cost assistance and the reimbursement of the training cost:

Buyers must complete the full online HomePath Ready Buyer training course on www.homepath.com and receive the Certificate of Completion.
The buyer must be a first-time homebuyer (did not own a property in the past three years) with plans to reside in the property as their primary residence. Auction, pool and investor sales are not eligible.
The request for closing cost assistance must be made at the initial offer, submitted on or after April 14, 2015.
Those interested in becoming a homeowner are encouraged to take the course as soon as possible. The course must be completed before submitting an offer to qualify. For more information on the course and to sign up, visit https://www.homepath.com/ready_buyer.html.

Fannie Mae enables people to buy, refinance, or rent homes.

Visit us at: http://www.fanniemae.com/progress.

WASHINGTON, DC – Economic growth for the third quarter of the year likely came in weaker than expected, largely because of a worsening net exports picture, but fourth-quarter growth is expected to withstand ongoing headwinds, according to Fannie Mae’s (FNMA/OTC) Economic & Strategic Research (ESR) Group. Slowing global growth and the appreciating dollar should continue to weigh on the U.S. trade deficit as we move through the remainder of 2015. In addition, the employment picture remains murky as the September jobs report came in well below expectations, showing the weakest average employment gain over a three-month period since February 2014. However, because consumer spending should remain supportive and the negative impact from the strong dollar should dissipate, the ESR Group expects the economy to strengthen slightly to 2.4 percent in 2016 from a forecast of 2.2 percent for 2015.

In the housing market, recent indicators were mixed. Single-family and multifamily starts, existing home sales, and pending home sales dropped in August. On the upside, new home sales reached a new expansion high in August, and builders’ confidence rose to a fresh recovery best in September, which should help boost homebuilding activity, if the skilled labor shortage alleviates. Overall, expectations of housing activity are little changed, with total home sales projected to rise approximately 8 percent in 2015 and an additional 4 percent in 2016. Projected mortgage originations for 2015 were revised higher in this month’s forecast as a result of the ESR Group’s annual benchmark to the 2014 Home Mortgage Disclosure Act data.

“Despite recent headwinds, which likely will slow economic growth compared to the first half of 2015, we see positive trends for consumer spending and housing heading into the fourth quarter,” said Fannie Mae Chief Economist Doug Duncan. “Strong home price gains should help drive an increase in household net worth again in the third quarter, and, combined with low gasoline prices and mortgage rates, should support strong consumer spending throughout the rest of the year.”

WASHINGTON, DC – Fannie Mae (FNMA/OTCQB) announced its 2023 Servicer Total Achievement and Rewards™ (STAR™) Program results, recognizing 32 mortgage servicers for competency, capacity, and overall performance. For more than a decade, Fannie Mae’s STAR Program has awarded high-performing mortgage servicers for their loan volume and portfolio composition, and for demonstrating leading practices to improve the housing industry.

“Our servicing partners’ success is essential to achieving Fannie Mae’s goal of preserving homeownership and maintaining the safety and soundness of our business,” said Cyndi Danko, Senior Vice President and Single-Family Chief Credit Officer, Fannie Mae. “We’re proud to recognize our top-performing STAR Program servicers and their commitment to ensuring operational excellence, reducing credit loss, and continuously improving the overall homebuyer experience.”

Since 2011, Fannie Mae’s STAR Program has enabled broad and lasting improvements across the mortgage servicing industry by promoting servicing knowledge and excellence. The program continues to gain positive momentum and has seen sustained servicer improvement in both metric performance and operational assessment results year over year.

For the 2023 program year, mortgage servicers were evaluated for STAR Performer recognition in three categories: General Servicing, Solution Delivery, and Timeline Management based on the results of the Servicer Capability Framework and STAR Performance Scorecard.

The 2023 STAR Program recipients are:

General Servicing

Bank of America, N.A.
Carrington Mortgage Services
Fifth Third Bank, N.A.
Freedom Mortgage Corp.
Guild Mortgage Company, LLC
Iowa Bankers Mortgage Corporation
JPMorgan Chase Bank, N.A.
LoanCare, LLC
Provident Funding Associates, L.P.
Regions Bank
ServiceMac, LLC
Specialized Loan Servicing
The Huntington National Bank
Solution Delivery

Associated Bank-Corp
Broker Solutions, Inc.
Cenlar Federal Savings Bank
Colonial Savings, F.A.
Mortgage Clearing House
Mr. Cooper
RoundPoint Mortgage Servicing LLC
US Bank, NA
General Servicing and Solution Delivery

BOKF, National Association
M&T Bank Corp.
PennyMac Corp
PHH Corporation
Planet Home Lending, LLC
PNC Bank, N.A.
Truist Bank
General Servicing and Timeline Management

Flagstar Bancorp, Inc.
Wells Fargo Bank, N.A.
Solution Delivery and Timeline Management

Rocket Mortgage, LLC
General Servicing, Solution Delivery, and Timeline Management

Newrez, LLC
About Fannie Mae
Fannie Mae advances equitable and sustainable access to homeownership and quality, affordable rental housing for millions of people across America. We enable the 30-year fixed-rate mortgage and drive responsible innovation to make homebuying and renting easier, fairer, and more accessible. To learn more, visit:
fanniemae.com | Twitter | Facebook | LinkedIn | Instagram | YouTube | Blog

Media Contact
Louie Wein
202-752-0607

Fannie Mae Newsroom
https://www.fanniemae.com/news

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Fannie Mae Resource Center
1-800-2FANNIE

WASHINGTON, DC – Fannie Mae (FNMA/OTCQB) is reminding homeowners and renters impacted by natural disasters, including those affected by Hurricane Milton, of available mortgage assistance and disaster relief options. Mortgage servicers also are reminded of options to assist homeowners under Fannie Mae’s guidelines during these circumstances.

“This is a devastating time for many homeowners and renters impacted by Hurricane Milton, especially as some are still feeling the impacts of Hurricane Helene,” said Cyndi Danko, Senior Vice President and Chief Credit Officer, Single-Family, Fannie Mae. “Once recovery efforts begin, we encourage homeowners experiencing hardship because of the storm(s) to contact their mortgage servicer about payment relief options as soon as possible. Homeowners and renters alike can learn more about disaster relief resources, including personalized support, by contacting Fannie Mae’s free disaster recovery counseling services.”

Homeowners and renters should call 855-HERE2HELP (855-437-3243) to access Fannie Mae’s disaster recovery counseling* or visit the Fannie Mae website for more information.

Under Fannie Mae’s guidelines for single-family mortgages impacted by a disaster:

Homeowners may request mortgage assistance by contacting their mortgage servicer (the company listed on their mortgage statement) following a disaster.
Homeowners affected by a disaster are often eligible to reduce or suspend their mortgage payments for up to 12 months by entering into a forbearance plan with their mortgage servicer. During this temporary reduction or pause in payments, homeowners will not incur late fees, and foreclosure along with other legal proceedings are suspended.
In instances where contact with the homeowner has not been established, mortgage servicers are authorized to offer a forbearance plan for up to 90 days if the servicer believes the home was affected by a disaster.
In addition, homeowners on a COVID-19-related forbearance plan who are subsequently impacted by a disaster may still be eligible for assistance and should contact their mortgage servicer to discuss options.
Homeowners and renters looking for disaster recovery resources may visit the Fannie Mae website to learn more about addressing immediate needs. Fannie Mae also offers help navigating the broader financial effects of a disaster to homeowners and renters through disaster recovery counseling at 855-HERE2HELP (855-437-3243).* Assistance is provided free of charge by U.S. Department of Housing and Urban Development (HUD)-approved housing counselors who are trained disaster-recovery experts that provide:

A needs assessment and personalized recovery plan.
Help requesting financial relief from the Federal Emergency Management Agency (FEMA), insurance companies, and other sources.
Web resources and ongoing guidance for up to 18 months.
Services available in multiple languages.
*Operated by Money Management International/MMI

About Fannie Mae
Fannie Mae advances equitable and sustainable access to homeownership and quality, affordable rental housing for millions of people across America. We enable the 30-year fixed-rate mortgage and drive responsible innovation to make homebuying and renting easier, fairer, and more accessible. To learn more, visit:
fanniemae.com | X (formerly Twitter) | Facebook | LinkedIn | Instagram | YouTube | Blog

WASHINGTON, DC – Housing activity is expected to slow modestly compared to previous projections, if the broad upward movement in mortgage rates since the start of the year is sustained, according to the May 2024 commentary from the Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group. However, the ESR Group notes upside risk to its latest forecasts for housing starts, single-family mortgage originations, and home sales activity, particularly if upcoming data releases lead market participants to believe that the Federal Reserve is closer to easing monetary policy, which would likely push mortgage rates downward.rnrnThe ESR Group forecasts overall economic growth to slow and mortgage rates to end the year near 7 percent. As a result, they expect a slight slowdown in housing activity through 2024 compared to their previous forecast. However, with active home sale listings now up approximately 30 percent compared to a year ago, the ESR Group believes sizable declines in home sales are unlikely and continues to forecast a modest upward drift in existing home sales over the forecast horizon, particularly compared to the historically low sales levels of the previous two years.rnrnThe ESR Group’s full-year 2024 real GDP outlook is unchanged at 1.8 percent, as underlying growth in the first quarter remained solid but still appears on track to slow as the year progresses. Household income growth has not kept pace with strong consumer spending and personal outlays on debt interest remain high, suggesting to the ESR Group that the higher interest rate environment will eventually weigh on future consumption. Combined with potential softening in payroll employment growth, the ESR Group expects inflation to decelerate through 2024 but remain sticky enough in the near term to prevent a Federal Reserve rate hike until September.rnrn“The question our economics team is asked most frequently by industry participants remains where we think mortgage rates are headed,” said Doug Duncan, Fannie Mae Senior Vice President and Chief Economist. “For now, we see rates remaining closer to 7 percent through the end of the year – before trending downward in 2025 – but note potential downside to that forecast given recent actual movements in rates. Our consumer survey suggests that households who are paying attention to the housing market continue to take a wait-and-see approach. This is consistent with our latest housing forecast, which does not foresee a dramatic change in activity until affordability improves. Given ongoing supply constraints and recent indications that the labor market may be weakening, a downward movement in mortgage rates appears to be the likeliest lever to achieve an improvement in affordability.”rnrnVisit the Economic & Strategic Research site at fanniemae.com to read the full May 2024 Economic Outlook, including the Economic Developments Commentary, Economic Forecast, Housing Forecast, and Multifamily Market Commentary. To receive e-mail updates with other housing market research from Fannie Mae’s Economic & Strategic Research Group, please click here.rnrnOpinions, analyses, estimates, forecasts, beliefs, and other views of Fannie Mae’s Economic & Strategic Research (ESR) Group or survey respondents included in these materials should not be construed as indicating Fannie Mae’s business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR Group bases its opinions, analyses, estimates, forecasts, beliefs, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current, or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, beliefs, and other views published by the ESR Group represent the views of that group or survey respondents as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.rnrnAbout the ESR GrouprnFannie Mae’s Economic and Strategic Research Group, led by Chief Economist Doug Duncan, studies current data, analyzes historical and emerging trends, and conducts surveys of consumer and mortgage lender groups to provide forecasts and analyses on the economy, housing, and mortgage markets. The ESR Group was awarded the prestigious 2022 Lawrence R. Klein Award for Blue Chip Forecast Accuracy based on the accuracy of its macroeconomic forecasts published over the 4-year period from 2018 to 2021.rnrnAbout Fannie MaernFannie Mae advances equitable and sustainable access to homeownership and quality, affordable rental housing for millions of people across America. We enable the 30-year fixed-rate mortgage and drive responsible innovation to make homebuying and renting easier, fairer, and more accessible. To learn more, visit:rnfanniemae.com

SAN JOSE, Calif., — As real estate enters the seasonally slower fall, properties in 12 major metro areas are still selling quickly, less than two months on the market, according to the realtor.com® September National Housing Trend Report released today. These markets also demonstrate strength in standard economic indicators and share unexpected commonalities, including large populations of engineers and baby boomers. The 12 markets include: Oakland, CA; San Jose, CA; San Francisco, CA; Denver, CO; Washington, DC-MD-VA-WV(DC); Seattle-Bellevue-Everett, WA; Houston, TX; Los Angeles-Long Beach, CA; Austin-San Marcos, TX; Omaha, NE-IA(NE); San Diego, CA; and Melbourne-Titusville-Palm Bay, FL. Move, Inc. (NASDAQ: MOVE) operates realtor.com®.

“When we see homes moving quickly in a particular market, we expect the trend to be supported by signs of local health like growth in economic production and employment,” said Jonathan Smoke, chief economist for realtor.com®. “This month, we also observed more out of the ordinary trends including high proportions of math and science professionals, as well as baby boomers in each of the fast moving markets. As the technology industry grows and aging baby boomers decide to make housing moves to support their retirement, we’ll continue to see strong housing demand associated with these factors.”

Income and occupation: Each market can be considered a land of opportunity with higher median incomes and larger proportions of six-figure salaries when compared to national averages. When examining local occupation distributions, these markets have more architects and engineers as well as professionals in the computer and mathematical industries. These fields represent 4.3 percent of occupations across the U.S., but in these markets account for 7.4 percent of careers.

Age demographics: The U.S. population of 65 years and older is forecasted to grow by 18 percent by 2019, which will have significant impact on the real estate market as baby boomers make retirement-related housing decisions. In these markets the population over 65 is expected to see growth between 19 to 35 percent – well above the national average – in the next five years. The Palm Bay market is the only exception with projected growth of 15 percent.

Gross domestic product (GDP): These fast moving markets are in full economic recovery or expansion mode when considering local estimated GDP, employment growth and declines in unemployment. The Washington, D.C. market is the weakest of the 12 markets, but likely due to the impact of sequestration. The Denver, Austin, and Houston areas top the list with the largest gains in GDP and employment.

Population and household formation: All markets showed substantial growth from a population and household formation perspective. With the exception of the Palm Bay market, the population in every market grew faster than the national population between 2010 and 2014. Additionally, when reviewing Nielsen’s five-year population growth forecast, all of the markets have a higher projected population growth than the U.S. overall.

On a national level, median age of inventory is lower than last year with a reduced number of homes on the market. In September, homes spent approximately 90 days on the market, which is three days less compared to this time last year. Median listing prices held steady for the fourth consecutive month, maintaining a 7.7 percent gain year-over-year. According to the National Association of REALTORS®, inventory continued to demonstrate persistently low months’ supply at five and a half months as compared with normal levels of six to seven months. New homes months’ supply was even lower at nearly five months in August.

“To truly relieve the inventory shortage on a sustained basis, new home construction needs to rise by at least 50 percent from the current levels,” said Lawrence Yun, chief economist for the National Association of REALTORS®.

For the complete realtor.com® September National Housing Trend Report, please visit: http://www.realtor.com/data-portal/realestatestatistics

How Data Is Collected

Realtor.com® regularly tracks real estate data and develops monthly reports featuring the number of listings, median age of inventory, and median list price across the U.S. and in specific markets, as well as provides year-over-year and month-over-month changes. These reports are the only ones pulled directly from the realtor.com® database, where 90 percent of listings are updated every 15 minutes from more than 800 multiple listing services (MLS). We regularly review and update historical data to provide the most accurate and comprehensive market information. As a result, some markets may be subject to periodic adjustments in data.

For more information about Move, visit www.move.com or one of its many online real estate properties including realtor.com®.

About Move, Inc. and realtor.com®
Move, Inc. (NASDAQ: MOVE), a leading provider of online real estate services, operates realtor.com®, which connects people to the essential, accurate information needed to identify their perfect home and to the REALTORS® whose expertise guides consumers through buying and selling. As the official website for the National Association of REALTORS®, realtor.com® empowers consumers to make smart home buying, selling and renting decisions by leveraging its direct, real-time connections with more than 800 multiple listing services (MLS) via all types of computers, tablets and smart telephones. Realtor.com® is where home happens. Move’s network of websites provides consumers a wealth of innovative tools and accurate information including Doorsteps®, HomeInsightSM, SocialBiosSM, Moving.com™, SeniorHousingNetSM, homefairSM and Relocation.com. Move supports real estate agents and brokerages by providing many services to grow their businesses, including ListHub™, the nation’s leading listing syndicator and centralized intelligence platform for the real estate industry; TigerLead®; Top Producer® Systems; and FiveStreetSM; as well as many free services. Move is based in the heart of the Silicon Valley — San Jose, CA.

Washington, D.C. – The Federal Housing Finance Agency (FHFA) today issued a Credit Risk Transfer Progress Report describing the status and volume of credit risk transfer transactions through the second quarter of 2017. The Report provides a comprehensive picture of how Fannie Mae and Freddie Mac (the Enterprises) transfer a substantial portion of credit risk to the private sector through a variety of transactions in the single-family market.

The Report demonstrates that the majority of the underlying mortgage credit risk on mortgages targeted for credit risk transfer (CRT) has been transferred to private investors through CRT and mortgage insurance. The Progress Report shows that:

The Enterprises have transferred a portion of risk on $1.8 trillion of unpaid principal balance (UPB) from the start of the CRT programs in 2013 through the second quarter of 2017, with a combined Risk in Force (RIF) of about $60.6 billion;
In the second quarter, the Enterprises transferred risk on $213 billon of UPB with a total RIF of $6.4 billion;
Debt issuances, like Structured Agency Credit Risk (STACR) and Connecticut Avenue Securities (CAS), accounted for 70 percent of RIF, and insurance and reinsurance transactions accounted for 25 percent;
Front-end reinsurance transactions increased from 2 percent of RIF in the first quarter of 2017 to 4 percent in the second quarter; and
In the first half of 2017, loans targeted for credit risk transfers represented 62 percent of the Enterprises’ single-family loan production.
“This report shows that the Enterprises have made tremendous progress with credit risk transfer in a short period of time, as they continue to leverage a receptive private sector market and reduce risk for taxpayers,” said FHFA Director Melvin L. Watt.

WASHINGTON, DC – Americans’ attitudes toward the housing market remain mixed, although a steady improvement in their personal financial outlook may bode well for housing in the coming months, according to results from Fannie Mae’s July 2014 National Housing Survey.

“The continued cautious sentiment expressed across the range of consumer indicators this month gives weight to our view that the first phase of the housing recovery is decelerating, and 2014 will be a year of mixed housing outcomes with home prices rising more slowly and home sales falling slightly,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “We have always believed that for the housing recovery to be considered robust, we will need strong and sustained full-time job and income growth. Recent data indicating the creation of more than 200,000 jobs over each of the last six months, combined with this month’s improvement in the share of consumers reporting significantly higher household income than a year ago, does provide some reason for optimism. If these trends continue, they could lead to some upside in housing in 2015.”

On average, consumers’ 12-month home price change expectation dipped again in July, falling slightly to 2.3 percent, and the share of respondents who expect home prices to climb in the next year also continued on a downward trend, falling to 42 percent. Additionally, consumer attitudes about the direction of the economy overall have grown more negative – the share of respondents who believe the economy is on the wrong track increased by 5 percentage points from last month to 59 percent.

However, the gap has narrowed between the share of consumers who say now is a good time to buy a home versus those who say it is a good time to sell, indicating a better balance of supply and demand in the market. In addition, the share of consumers who say their home has increased in value since they bought it rose to an all-time survey high, which suggests a long-term positive trend for household balance sheets that may encourage more potential buyers and sellers to enter the market. Consumers’ rising optimism about their personal financial situation also may foreshadow more positive housing sentiment. Those who say their income is significantly higher than it was 12 months ago increased 4 percentage points to a survey high of 28 percent, while those who say their personal financial situation has gotten worse within the last year declined to a survey low of 17 percent.

SURVEY HIGHLIGHTS
Homeownership and Renting
The average 12-month home price change expectation fell to 2.3 percent.
The share of respondents who say home prices will go up in the next 12 months continued its downward trend, falling to 42 percent. The share who say home prices will go down also decreased—to 8 percent.
The share of respondents who say mortgage rates will go up in the next 12 months fell by one percentage point to 54 percent.
Those who say it is a good time to buy a house fell to 67 percent, and those who say it is a good time to sell a house rose to 43 percent—tying the survey high.
The average 12-month rental price change expectation decreased to 3.8 percent.
The percentage of respondents who expect home rental prices to go up fell to 51 percent.
Half of respondents thought it would be difficult for them to get a home mortgage today.
The share who say they would buy if they were going to move fell slightly to 67 percent.
The Economy and Household Finances

The share of respondents who say the economy is on the wrong track increased by 5 percentage points from last month to 59 percent.
The percentage of respondents who expect their personal financial situation to get better over the next 12 months dropped to 40 percent.
The share of respondents who say their household income is significantly higher than it was 12 months ago increased by 4 percentage point to 28 percent—a survey high.
The share of respondents who say their household expenses are significantly higher than they were 12 months ago fell 2 percentage points to 36 percent.
The most detailed consumer attitudinal survey of its kind, the Fannie Mae National Housing Survey polled 1,000 Americans via live telephone interview to assess their attitudes toward owning and renting a home, home and rental price changes, homeownership distress, the economy, household finances, and overall consumer confidence. Homeowners and renters are asked more than 100 questions used to track attitudinal shifts (findings are compared to the same survey conducted monthly beginning June 2010). Fannie Mae conducts this survey and shares monthly and quarterly results so that we may help industry partners and market participants target our collective efforts to stabilize the housing market in the near-term, and provide support in the future.

For detailed findings from the July 2014 survey, as well as a podcast providing an audio synopsis of the survey results and technical notes on survey methodology and questions asked of respondents associated with each monthly indicator, please visit the Fannie Mae Monthly National Housing Survey page on fanniemae.com. Also available on the site are in-depth topic analyses, which provide a detailed assessment of combined data results from three monthly studies. The July 2014 Fannie Mae National Housing Survey was conducted between July 1, 2014 and July 21, 2014. Most of the data collection occurred during the first two weeks of this period. Interviews were conducted by Penn Schoen Berland, in coordination with Fannie Mae.

MCLEAN, VA–(Marketwired – Apr 10, 2014) – Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates moving down slightly as we head into the spring homebuying season.

News Facts

30-year fixed-rate mortgage (FRM) averaged 4.34 percent with an average 0.7 point for the week ending April 10, 2014, down from last week when it averaged 4.41 percent. A year ago at this time, the 30-year FRM averaged 3.43 percent.

15-year FRM this week averaged 3.38 percent with an average 0.6 point, down from last week when it averaged 3.47 percent. A year ago at this time, the 15-year FRM averaged 2.65 percent.

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.09 percent this week with an average 0.5 point, down from last week when it averaged 3.12 percent. A year ago, the 5-year ARM averaged 2.62 percent.

1-year Treasury-indexed ARM averaged 2.41 percent this week with an average 0.5 point, down from last week when it averaged 2.45 percent. At this time last year, the 1-year ARM averaged 2.62 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.

Quotes
Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.

“Mortgage rates eased a bit following the decline in 10-year Treasury yields. Also, the economy added 192,000 jobs in March, which was below the market consensus forecast but followed an upward revision of 22,000 jobs in February. Meanwhile, the unemployment rate held steady at 6.7 percent.”

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.

MCLEAN, VA– – Freddie Mac (OTCQB: FMCC) released today its U.S. Economic and Housing Market Outlook for August showing the country getting back to a more normalized economy, and therefore expecting to see housing driven once again by fundamentals. The complete August 2014 U.S. Economic and Housing Market Outlook and forecast table are available here.

Outlook Highlights
After several years of weakness we are starting to see the labor market pick up steam having added 230,000 net new jobs on average for the first seven months of this year.
The Census Bureau reported that over the past four quarters, net household formations totaled only 458,000, compared with long-term projections by the Joint Center for Housing Studies of 1.2 to 1.3 million per year.
The number of persons per household has increased by 2.6 percent since 2005, going from 2.69 to 2.76 persons per household. If the persons per household had held steady over that period there would be an additional 3 million households today.
The monthly mortgage payment-to-rent ratio for the U.S. is near the lowest it has been in more than 35 years. Thus, even with some increase in house prices and interest rates, the ratio will remain relatively low.
Latest forecast has economic growth averaging 3.3 percent in 2015 and the unemployment rate continuing to gradually decline. In this scenario, household formations should pick up and housing starts are projected to increase 28 percent over 2014’s pace to 1.3 million starts in 2015.
Quote Attributed to Frank Nothaft, Freddie Mac vice president and chief economist.

“We are getting closer to a more normalized economy, and now we are expecting to see housing driven by fundamentals, and in fact, we’ve already seen this in some markets. The economic growth and labor market gains we saw in the second quarter of this year are projected to continue, strengthening household formations and the housing sector. A recovering housing sector will sustain the rally in homebuilding despite likely increases in long-term interest rates. Increased construction activity will further accelerate the improvement in labor markets and fuel even more household formations and more housing demand. The result is an economy that gradually recovers back towards its potential.”

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.

MCLEAN, VA – Freddie Mac (OTCQB: FMCC) today announced that it is increasing investor transparency by adding loan-level actual loss data to its Single Family Loan-Level Historical Dataset.

The enhanced dataset will increase transparency, which helps investors build more accurate credit performance models in support of the company’s Single-Family credit risk offerings.

Quotes
Attribute to Kevin Palmer, vice president of single-family strategic credit costing and structuring for Freddie Mac.

“It is important for investors to have this expanded view of credit risk, especially as we continue to grow and evolve our credit risk offerings. Having data openly available in the marketplace allows us to expand the amount of risk transferred to private investors.”

“We expect to introduce an actual loss credit offering in our ACIS reinsurance and STACR programs next year. We are releasing this data now to give potential credit investors sufficient time to get familiar with Freddie Mac’s actual loss performance.”

News Facts

In addition to such loan level loss information as expenses and recoveries, the dataset contains loan-level credit performance data on 30-year fixed-rate single-family mortgages. It excludes data on adjustable-rate mortgages, balloon mortgages, initial interest mortgages, government-insured mortgages, relief refinancing mortgages (including Home Affordable Refinance Program, or “HARP”) and other affordable or non-standard mortgages.

The dataset covers approximately 17 million 30-year, fixed-rate, single-family mortgages originated between January 1, 1999, and June 30, 2013. Actual loss and monthly loan performance data, including credit performance information up to and including property disposition, is being disclosed through December 31, 2013.

The historical dataset was first made available in March 2013.

The Single-Family Loan-Level Dataset and FAQs are accessible on Freddiemac.com at http://www.freddiemac.com/news/finance/sf_loanlevel_dataset.html

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.

MCLEAN, VA- Freddie Mac (OTCQB: FMCC) released today its U.S. Economic and Housing Market Outlook for November showing that the home purchase market is expected to continue strengthening along with the broader economy during 2015. A video preview, along with the complete November 2014 U.S. Economic and Housing Market Outlook and forecast table, is available here.

Outlook Highlights

Expect to see interest rates climb throughout 2015, with yields on the 10-year Treasury averaging about 2.9 percentage points, up from about 2.6 percentage points in 2014, and rates on the 30-year fixed mortgage gradually climbing, averaging 4.6 percent and rising to 5.0 percent by the end of next year.
Projecting annual house price gains to slow from 9.3 percent in 2013, to 4.5 percent in 2014 and 3.0 percent in 2015. Continued house price appreciation and rising mortgage rates will dampen homebuyer affordability. Historically speaking, that’s moving from very high levels of affordability to high levels of affordability.
Forecasting total housing starts to increase by 20 percent from 2014 to 2015 and expecting to see total home sales to increase by about 5 percent over that time period to the best sales pace in eight years.
Expect single-family originations to fall an additional 8 percent from 2014 to 2015 to $1.1 trillion annualized as increases in purchase-money lending are insufficient to offset a drop in refinance. Refinance is expected to make up just 23 percent of originations in 2015.
Multifamily mortgage originations have risen about 60 percent between 2011 and 2014, and further increases in volume are anticipated in 2015, up about 14 percent in 2015 over 2014.
Quote
Attributed to Frank Nothaft, Freddie Mac vice president and chief economist.

“The good news for 2015 is that the U.S. economy appears well poised to sustain about a 3 percent growth rate in 2015 — only the second year in the past decade with growth at that pace or better. There are several reasons for the better macroeconomic performance. Governmental fiscal drag has turned into fiscal stimulus, lower energy costs support consumer spending and business investment, further easing of credit conditions for business and real estate lending support commerce and development, and more upbeat consumer and business confidence, all of which portend faster economic growth in 2015. And with that, the economy will produce more and better-paying jobs, providing the financial wherewithal to support household formations and housing activity.”

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.

GRAPEVINE, Texas –GameStop (NYSE: GME), a family of specialty retail brands that makes the most popular technologies affordable and simple, announced today that its GameStop Technology Institute (GTI) business unit is collaborating with AT&T to further its focus on delivering to its brick-n-mortar retail stores technology advancements that drive positive customer experiences and accelerate the pace of change within the retail industry.

As part of the relationship, GTI is working closely with AT&T to define the technical capabilities required to enable customers to interact seamlessly and responsibly through their electronic devices with digital product promotional materials (e.g., video game trailers, special discounts, etc.) located on store shelves and within identified product communication zones. To accomplish this, the company is utilizing AT&T Network Services, such as AT&T Business Fiber, so GameStop stores have reliable and scalable speeds.

“GTI’s mission is to deliver advanced retail experiences to meet customers’ needs on their terms both in our physical and online stores,” said Jeff Donaldson, senior vice president of the GameStop Technology Institute. “To do this, we require network capabilities that are as innovative as the technological applications we are implementing in our stores. AT&T’s leadership in this area will help address our demanding IT infrastructure needs as we continue to expand technology capabilities within our stores.”

Delivering Rich Video Game Content to Consumer Devices

As GameStop continues to pursue the implementation of innovative applications and technologies to enhance retail interactions, GTI is working to provide the company with the ultra-high bandwidth capabilities and network infrastructure required to support the delivery of rich video game content directly to GameStop customers inside their stores.

The initial focus will be on 36 GTI test store locations in Austin and College Station, Texas. Once implemented, customers will be able to experience how GameStop is utilizing technology to drive one-on-one customer engagement through the delivery of relevant gaming content to their smart devices.

As the fifth largest retailer in the United States and second largest business solutions provider to retailers globally, AT&T brings its experience in mobilizing the world to customers such as GameStop on a daily basis.

“AT&T’s Connected Commerce solutions address challenges faced by retailers in delivering leading customer experiences and providing highly secure and performance-driven enabling infrastructure,” said John Griffin, vice president of AT&T. “We are looking forward to working with GameStop to enhance their retail interactions and enable insights with customer interactions.”

About AT&T
AT&T Inc. (NYSE:T) is a premier communications holding company and one of the most honored companies in the world. Its subsidiaries and affiliates – AT&T operating companies – are the providers of AT&T services in the United States and internationally. With a powerful array of network resources that includes the nation’s most reliable 4G LTE network, AT&T is a leading provider of wireless, Wi-Fi, high speed Internet, voice and cloud-based services, including eCommerce solutions. A leader in mobile Internet, AT&T also offers the best global wireless coverage, based on offering roaming in more countries than any other U.S. based carrier, and offers the most wireless phones that work in the most countries. It also offers advanced TV service with the AT&T U-verse® brand. The company’s suite of IP-based business communications services is one of the most advanced in the world.

Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at http://www.att.com/aboutus or follow our news on Twitter at @ATT, on Facebook at http://www.facebook.com/att and YouTube at http://www.youtube.com/att.

© 2014 AT&T Intellectual Property. All rights reserved. AT&T, the AT&T Global logo and other marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks contained herein are the property of their respective owners.

Reliability claim based on analysis of independent third party data re: nationwide carriers’ 4G LTE. LTE is a trademark of ESTI. 4G LTE not available everywhere.

About GameStop Corp.
GameStop Corp. (NYSE: GME), a Fortune 500 and S&P 500 company headquartered in Grapevine, Texas, is a global, multichannel video game, consumer electronics and wireless services retailer. GameStop operates more than 6,600 stores across 15 countries. The company’s consumer product network also includes www.gamestop.com; www.Kongregate.com, a leading browser-based game site; Game Informer® magazine, the world’s leading print and digital video game publication; and www.buymytronics.com, an online consumer electronics trade-in platform. In addition, our Technology Brands segment includes our Simply Mac, Spring Mobile and Cricket stores. Simply Mac, www.simplymac.com, operates 33 stores, selling the full line of Apple products, including laptops, tablets, smartphones and offering Apple certified warranty and repair services. Spring Mobile, http://springmobile.com, sells post-paid AT&T services and wireless products through its 238 AT&T branded stores. Cricket Wireless, www.cricketwireless.com, is a new AT&T brand offering pre-paid wireless services, devices and related accessories. We operate 48 Cricket stores in select markets throughout the United States.

General information about GameStop Corp. can be obtained at the company’s corporate website. Follow GameStop on Twitter @ www.twitter.com/GameStop and find GameStop on Facebook @ www.facebook.com/GameStop.

FAIRFIELD, Conn. – November 23, 2015 – GE (NYSE: GE) has signed an agreement to sell a portfolio of first lien mortgage loans from its UK Home Lending business, representing aggregate ending net investment (ENI) of approximately US$5.8 billion, to an investment consortium made up of opportunistic funds managed by Blackstone, TPG Special Situations Partners (TSSP), and CarVal Investors. The loans have a face value, or customer servicing balance of US$5.9/£3.8 billion. The transaction is expected to close in December 2015; terms were not disclosed.

“This transaction represents the sale of almost all our remaining UK mortgage business, which successfully provided financing for UK home owners,” said Keith Sherin, GE Capital chairman and CEO. “We began this year with around US$13 billion of ENI and when this transaction closes, we will have approximately US$0.4 billion of ENI remaining in our UK mortgage business. This is an important step as we continue to execute on our plan to sell most of the assets of GE Capital.”

As previously announced, GE is embarking on a strategy to focus on its high-value industrial businesses and is selling most GE Capital assets. GE and its Board of Directors have determined that current market conditions are favorable to pursue disposition of these assets. GE will retain the financing verticals that relate to GE’s industrial businesses.

When completed, this transaction will contribute approximately US$0.4 billion of capital to the overall target of approximately US$35 billion of dividends expected to be paid to GE under this plan (subject to regulatory approval). In total, the combined sales of the UK Home Lending portfolios, including this transaction, will contribute nearly US$1 billion of capital to the target. With the transaction, the total ENI for 2015 announced sales is about US$136 billion.

“We are pleased with the progress we are making to reach and close agreements for our businesses and assets. The speed and value we have achieved is a testament to the hard work of our GE Capital teams around the world,” concluded Sherin.

About GE:
GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the “GE Store,” through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.ge.com

GE’s Investor Relations website at www.ge.com/investor and our corporate blog at www.gereports.com, as well as GE’s Facebook page and Twitter accounts, including @GE_Reports, contain a significant amount of information about GE, including financial and other information for investors. GE encourages investors to visit these websites from time to time, as information is updated and new information is posted

GLEN ELLYN, I.L. — Under the leadership of David Gust, Gust Realty announced today that it has joined the CENTURY 21® System and will now conduct business as CENTURY 21 Gust Realty. The company will continue to provide full-service real estate services to buyers and sellers in the greater Glen Ellyn and Chicagoland area. By choosing to affiliate with the CENTURY 21® System, Gust and his team will now leverage the new identity, mission and platform of tools and technologies of the CENTURY 21 brand as it delivers expanded, full-service real estate services to buyers and sellers throughout the Glen Ellyn market.

“We’re an ambitious team; our goals are to always provide quality service and personal attention to each of our customers and deliver the best service until the very end of the homebuying and selling process,” shared Gust. “We’re thrilled to partner with CENTURY 21 and gain new tools and the resources of a global franchisor to even better serve the residents of Chicago and beyond.”

Gust has more than 16 years of real estate experience under his belt and is a born-and-raised Chicago native. With such a deep understanding of Chicago and its suburbs, Gust and his team of 10 talented agents prioritize personalization when serving their customers. The small but mighty team specializes in residential real estate and serves the renters, buyers and sellers in Glen Ellyn and the greater Chicagoland area and surrounding western suburbs.

“We are pleased to welcome David and his entire team to the CENTURY 21 System,” said Michael Miedler, president and chief executive officer, Century 21 Real Estate LLC. “We’re a customer-service driven industry and are always looking to deliver the best experiences to our homebuyers, sellers and renters. To that end, we’re looking forward to seeing the continued success of David and his team in the Chicagoland area.”

About CENTURY 21 Gust Realty
CENTURY 21 Gust Realty is a full-service real estate company, serving the buyers and sellers of Glen Ellyn and Chicagoland. The office is located at 800 Roosevelt Road, Glen Ellyn IL 60137.

CENTURY 21 Gust Realty is an independently owned and operated franchise affiliate of Century 21 Real Estate, franchisor of the iconic CENTURY 21 brand, comprised of approximately 9,400 independently owned and operated franchised broker offices in 80 countries and territories worldwide with more than 127,000 independent sales professionals.

WASHINGTON, DC – Fannie Mae (FNMA/OTC) today announced Green Rewards, a new multifamily financing option that helps owners of apartment buildings and cooperatives invest in energy- and water-cost saving improvements. These investments can improve and preserve the quality of multifamily properties and lower utility costs, saving money for both property owners and renters. Green Rewards is available today nationwide.

“Green Rewards does just that, it rewards borrowers for investing in smart property improvements by giving owners a lower all-in interest rate and access to more loan dollars,” said Jeffery Hayward, Executive Vice President and Head of Multifamily at Fannie Mae. “The resulting greener property really has rewards for all of housing’s stakeholders: it means increased cash flows for the owners, lower utility expenses and better quality housing for tenants, and a high quality asset backing our MBS for investors.”

Green Rewards provides property owners with both extra loan proceeds and a lower all-in interest rate. For example, a multifamily property seeking to refinance a $10 million loan could receive an additional $250,000 in loan proceeds to make energy- and water- saving improvements that will reduce its annual $140,000 energy and water costs by 30 percent. Green Rewards includes a portion of the owner’s and the tenant’s projected energy- and water-cost savings in the loan’s underwriting, resulting in greater loan proceeds than a typical loan. In addition, Green Rewards reduces the all-in interest rate by 10 basis points; on the same $10.25 million loan this could result in savings of more than $98,000 in total interest over the 10-year loan term.

With Green Rewards, property owners can make smart investments that reduce energy and water expenses, generate electricity or result in a third-party green building certification, including installing ENERGY STAR® certified HVAC systems, electricity-generating solar panels, water-reducing irrigation systems, or applying for a Green Building Certification, such as ENERGY STAR® or U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) certification.

Both conventional and affordable multifamily properties are eligible for Green Rewards, as well as cooperatives, seniors, military and student housing properties. Properties may be located anywhere in the United States, and must be able to project a 20 percent minimum consumption savings in energy and/or water. To track energy performance over time, owners with a Green Rewards loan must report the property’s ENERGY STAR® score annually. The additional loan proceeds must be reinvested in the property within 12 months of loan closing.

Green Rewards is the latest green financing innovation from Fannie Mae Multifamily. Fannie Mae announced in February that multifamily properties with an existing Green Building Certification will receive a 10 basis point reduction in the interest rate on new loans. In 2011, Fannie Mae introduced Green Preservation Plus which supports the preservation of affordable housing, providing up to an additional five percent in loan proceeds to affordable housing owners seeking to make energy and water efficiency upgrades at the time of acquiring or refinancing the property. Fannie Mae also recently reduced the all-in interest rate on its Green Preservation Plus loans by 10 basis points. Fannie Mae is the market leader in green solutions for the multifamily industry, providing over $130 million in Green Financing as of the end of 2014.

ATLANTA – – HD Supply (NASDAQ: HDS) and The Home Depot® (NYSE: HD) today announced they have entered into an agreement for The Home Depot to purchase substantially all of the assets of HD Supply Hardware Solutions, formerly known as Crown Bolt, a leading supplier of fasteners and builders hardware to retailers in the United States. Terms of the deal were not disclosed. The transaction is expected to close by the end of fiscal year 2014 subject to obtaining customary regulatory approvals.

“After a detailed evaluation, we determined that selling our Hardware Solutions business is in the best interests of our associates and HD Supply shareholders,” said Joe DeAngelo, CEO of HD Supply. “HD Supply Hardware Solutions and The Home Depot have a long-standing and natural partnership. The Home Depot is Hardware Solutions’ largest customer and accounts for approximately 98 percent of its annual sales.”

HD Supply Hardware Solutions was The Home Depot’s 2013 Hardware Vendor of the Year, recognized for providing top-notch service and quality to The Home Depot stores. “Our companies have had a long-standing relationship,” said Craig Menear, CEO and president, The Home Depot. “By formally bringing the business into The Home Depot family, we expect to further enhance our supply chain capabilities and hardware product offerings.”

About HD Supply:
HD Supply (www.hdsupply.com) is one of the largest industrial distributors in North America. The company provides
a broad range of products and value-add services to approximately 500,000 customers with leadership positions in
maintenance, repair and operations, infrastructure and power and specialty construction sectors. Through
approximately 650 locations across 48 states and seven Canadian provinces, the company’s approximately 16,000
associates provide localized, customer-driven services including jobsite delivery, will call or direct-ship options,
diversified logistics and innovative solutions that contribute to its customers’ success.

About The Home Depot:
The Home Depot is the world’s largest home improvement specialty retailer, with 2,269 retail stores in all 50 states,
the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. In fiscal 2013, The
Home Depot had sales of $78.8 billion and earnings of $5.4 billion. The company employs more than 300,000
associates. The Home Depot’s stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow
Jones industrial average and Standard & Poor’s 500 index.

Earlier this week, Secretary Lew attended a Making Home Affordable (MHA) Help for Homeowners event in Landover, Maryland. While there, the Secretary met with homeowners affected by the financial crisis and participated in a roundtable discussion with the DC metropolitan area’s housing leaders to discuss local and national approaches to foreclosure prevention.

Nearly 900 homeowners attended Tuesday’s event to meet face-to-face with their mortgage servicer, and U.S. Department of Housing and Urban Development (HUD) approved housing counselors. Together with the Hope Now Alliance and NeighborWorks® America, Treasury and HUD have co-hosted 88 Help for Homeowners events across the country, including three in Maryland, and reached more than 75,000 homeowners.

Helping responsible homeowners is a cornerstone of the President’s efforts to secure a better bargain for the middle class. MHA offers some of the deepest and most dependable assistance available to prevent foreclosure and help homeowners recover from the impact of the recession. That’s why earlier this year we extended the application deadline for MHA until December 31, 2015. The program is a critical part of our efforts to reach as many struggling homeowners as possible while the need still exists.

Between private and public sources, almost seven million permanent loan modifications and other homeowner assistance actions have been taken since 2009, more than double the number of foreclosure completions. In MHA alone, more than 1.7 million homeowner assistance actions have taken place, including 1.2 million Home Affordable Mortgage Program (HAMP) permanent loan modifications. In the DC metropolitan area, more than 50,000 homeowners have received assistance through HAMP, the sixth highest in the nation.

While there is still more work to do, our initiatives have directly and indirectly helped millions of homeowners avoid foreclosure. The housing market may have turned a corner, but millions still live under the threat of foreclosure, and that is why we will continue working hard to help our neighbors impacted by the crisis stay in their homes.

For more information about the Making Home Affordable Program and events in your area, visit MakingHomeAffordable.gov or call the Homeowner’s HOPE™ Hotline at (888) 995-HOPE (4673).
COURTESY: US TREASURY DEPARTMENT

WASHINGTON, DC – Single-family home prices increased 6.9 percent from Q2 2023 to Q2 2024, down from the previous quarter’s upwardly revised annual growth rate of 7.3 percent, according to Fannie Mae’s (FNMA/OTCQB) latest Home Price Index (FNM-HPI) reading, a national, repeat-transaction home price index measuring the average, quarterly price change for all single-family properties in the United States, excluding condos. On a quarterly basis, home prices rose a seasonally adjusted 1.3 percent in Q2 2024, down from the revised 2.0 percent growth in Q1 2024. On a non-seasonally adjusted basis, home prices increased by 3.0 percent in Q2 2024.

“Home prices rose again in the second quarter, but the pace of growth slowed as important elements of housing demand and supply inched closer together,” said Doug Duncan, Fannie Mae Senior Vice President and Chief Economist. “Elevated mortgage rates and ongoing affordability constraints are increasingly limiting homebuyer demand and thus dampening the pace of home price appreciation. Meanwhile, the number of homes available for sale is rising in many metro areas, which is also dampening home price growth. While we expect home price growth to decelerate further in the coming quarters, a still-tight inventory of homes for sale and stretched affordability remain significant challenges and, in our view, are likely to constrain mortgage demand and home sales for the foreseeable future.”

The FNM-HPI is produced by aggregating county-level data to create both seasonally adjusted and non-seasonally adjusted national indices that are representative of the whole country and designed to serve as indicators of general single-family home price trends. The FNM-HPI is publicly available at the national level as a quarterly series with a start date of Q1 1975 and extending to the most recent quarter, Q2 2024. Fannie Mae publishes the FNM-HPI approximately mid-month during the first month of each new quarter.

For more information on the FNM-HPI, including a description of the methodology and the Q2 2024 data file, please visit our Research & Insights page on fanniemae.com.

To receive e-mail updates regarding future FNM-HPI updates and other housing market research from Fannie Mae’s Economic & Strategic Research Group, please click here.

Fannie Mae’s home price estimates are based on preliminary data available as of the date of index estimation and are subject to change as additional data become available. Opinions, analyses, estimates, forecasts, beliefs, and other views of Fannie Mae’s Economic & Strategic Research (ESR) group included in these materials should not be construed as indicating Fannie Mae’s business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR group bases its opinions, analyses, estimates, forecasts, beliefs, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, beliefs, and other views published by the ESR group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.

About the ESR Group
Fannie Mae’s Economic and Strategic Research Group, led by Chief Economist Doug Duncan, studies current data, analyzes historical and emerging trends, and conducts surveys of consumer and mortgage lender groups to provide forecasts and analyses on the economy, housing, and mortgage markets. The ESR Group was awarded the prestigious 2022 Lawrence R. Klein Award for Blue Chip Forecast Accuracy based on the accuracy of its macroeconomic forecasts published over the 4-year period from 2018 to 2021.

About Fannie Mae
Fannie Mae advances equitable and sustainable access to homeownership and quality, affordable rental housing for millions of people across America. We enable the 30-year fixed-rate mortgage and drive responsible innovation to make homebuying and renting easier, fairer, and more accessible. To learn more, visit:
fanniemae.com | Twitter | Facebook | LinkedIn | Instagram | YouTube | Blog

WASHINGTON, DC – The Fannie Mae Home Purchase Sentiment Index® (HPSI) fell in July for the second consecutive month, dropping 4.2 points to 86.5, after reaching survey highs in April and May. The decline can be attributed to decreases in four of the six HPSI components. The net share of survey respondents who said now is a good time to buy a home fell 4 percentage points, and the net share who said it is a good time to sell a home fell 6 percentage points. Additionally, the net share who said that home prices will go up in the next 12 months decreased 7 percentage points. More Americans also expressed a decreased sense of job security, with the net share who said they are not concerned about losing their job falling 11 percentage points in July.

“Home purchase sentiment seems to have reached a plateau, with potential home sellers likely struggling to find a home to buy amid slow supply growth, expectations for rising mortgage rates, and significant home price increases,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “Survey respondents cite ‘high home prices’ as the top reason why it is both a good time to sell a home and bad time to buy a home. This suggests a contributing factor to the low supply of existing homes for sale is that current owners are reluctant to trade up in a rising price market. Additionally, the shares of consumers citing favorable mortgage rates as a reason why it’s a good time to buy or sell a home both dropped to fresh survey lows.”

HOME PURCHASE SENTIMENT INDEX – COMPONENT HIGHLIGHTS

Fannie Mae’s 2018 Home Purchase Sentiment Index (HPSI) decreased in July by 4.2 points to 86.5. The HPSI is down 0.3 points compared with the same time last year.

The net share of Americans who say it is a good time to buy a home fell 4 percentage points from last month to 24%.
The net share of those who say it is a good time to sell fell 6 percentage points from last month’s survey high to 41%.
The net share of those who say home prices will go up fell 7 percentage points to 39%, falling under 40% for the first time since December 2016.
The net share of Americans who say mortgage rates will go down over the next 12 months rose 1 percentage point to -52%.
The net share of Americans who say they are not concerned about losing their job fell 11 percentage points from last month to 65%.
The net share of those who say their household income is significantly higher than it was 12 months ago rose 2 percentage points to 21%, matching the survey high from May 2018.

ABOUT FANNIE MAE’S HOME PURCHASE SENTIMENT INDEX
The Home Purchase Sentiment Index (HPSI) distills information about consumers’ home purchase sentiment from Fannie Mae’s National Housing Survey® (NHS) into a single number. The HPSI reflects consumers’ current views and forward-looking expectations of housing market conditions and complements existing data sources to inform housing-related analysis and decision making. The HPSI is constructed from answers to six NHS questions that solicit consumers’ evaluations of housing market conditions and address topics that are related to their home purchase decisions. The questions ask consumers whether they think that it is a good or bad time to buy or to sell a house, what direction they expect home prices and mortgage interest rates to move, how concerned they are about losing their jobs, and whether their incomes are higher than they were a year earlier.

ABOUT FANNIE MAE’S NATIONAL HOUSING SURVEY
The most detailed consumer attitudinal survey of its kind, Fannie Mae’s National Housing Survey (NHS) polled approximately 1,000 Americans via live telephone interview to assess their attitudes toward owning and renting a home, home and rental price changes, homeownership distress, the economy, household finances, and overall consumer confidence. Homeowners and renters are asked more than 100 questions used to track attitudinal shifts, six of which are used to construct the HPSI (findings are compared with the same survey conducted monthly beginning June 2010). As cell phones have become common and many households no longer have landline phones, the NHS contacts 70 percent of respondents via their cell phones (as of January 2018). For more information, please see the Technical Notes. Fannie Mae conducts this survey and shares monthly and quarterly results so that we may help industry partners and market participants target our collective efforts to stabilize the housing market in the near-term, and provide support in the future. The July 2018 National Housing Survey was conducted between July 1, 2018 and July 22, 2018. Most of the data collection occurred during the first two weeks of this period. Interviews were conducted by PSB, in coordination with Fannie Mae.

DETAILED HPSI & NHS FINDINGS
For detailed findings from the July 2018 Home Purchase Sentiment Index and National Housing Survey, as well as a brief HPSI overview and detailed white paper, technical notes on the NHS methodology, and questions asked of respondents associated with each monthly indicator, please visit the Surveys page on fanniemae.com. Also available on the site are in-depth special topic studies, which provide a detailed assessment of combined data results from three monthly studies of NHS results.

Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit fanniemae.com and follow us on twitter.com/fanniemae.

Economy Expected to Decelerate in 2024 After Surprisingly Resilient 2023

WASHINGTON, DC – Single-family home sales likely bottomed out in Q4 2023 and, due to the recent pullback in mortgage rates, are expected to begin a slow but meaningful recovery over the course of the next year, alongside upward-trending mortgage origination activity, according to the December 2023 commentary from the Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group. Purchase mortgage applications have rebounded approximately 15 percent from their trough in November, a trend that the ESR Group expects to continue if mortgage rates continue to slide. However, the same dynamics that kept home sales in 2023 at their lowest level since the Great Financial Crisis, including affordability challenges, the lock-in effect, and a lack of homes available for sale, will likely persist in 2024. As such, the ESR Group expects the home sales recovery to be meaningful but slow.

The ESR Group also continues to forecast a modest downturn in 2024, followed by a return to growth in 2025, noting that many of the underlying business cycle dynamics that contributed to last year’s recession call remain. While the likelihood of a soft landing has certainly improved over the last few months, engineering it while avoiding a resurgence in inflation will likely be a difficult task.

“Last week’s comments by Chairman Powell, as well as the Federal Reserve’s updated Summary of Economic Projections, suggest increased Fed confidence that a soft landing has been achieved and inflation is headed sustainably to 2 percent,” said Doug Duncan, Fannie Mae Senior Vice President and Chief Economist. “Clearly, the many economic forecasters who previously forecasted a recession beginning in 2023 were wrong, including us. However, we continue to think there are reasons for concern that will likely lead to a mild economic downturn, including stretched consumer spending relative to personal incomes and the continued effects of restrictive monetary policy still working through the economy. Although we expect headline growth to clock in at 2.6 percent in 2023 – above what is generally considered to be the economy’s long-term growth potential of 1.8 percent – we’re also forecasting slightly negative growth in 2024.”

Duncan continued: “Notwithstanding the recent mortgage rate rally, housing and mortgage markets will enter 2024 at approximately the same level as they entered 2023. Thus, while we think home sales will start to rise over the new year, the combination of modest increases in home prices and still-elevated interest rates suggest a slow pace of recovery from previously recessionary levels of housing activity.”

Visit the Economic & Strategic Research site at fanniemae.com to read the full December 2023 Economic Outlook, including the Economic Developments Commentary, Economic Forecast, Housing Forecast, and Multifamily Market Commentary. To receive e-mail updates with other housing market research from Fannie Mae’s Economic & Strategic Research Group, please click here.

Opinions, analyses, estimates, forecasts, and other views of Fannie Mae’s Economic & Strategic Research (ESR) group included in these materials should not be construed as indicating Fannie Mae’s business prospects or expected results, are based on a number of assumptions,and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR Group bases its opinions, analyses, estimates, forecasts, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, and other views published by the ESR group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.

About the ESR Group
Fannie Mae’s Economic and Strategic Research Group, led by Chief Economist Doug Duncan, studies current data, analyzes historical and emerging trends, and conducts surveys of consumer and mortgage lender groups to provide forecasts and analyses on the economy, housing, and mortgage markets. The ESR Group was awarded the prestigious 2022 Lawrence R. Klein Award for Blue Chip Forecast Accuracy based on the accuracy of its macroeconomic forecasts published over the 4-year period from 2018 to 2021.

About Fannie Mae
Fannie Mae advances equitable and sustainable access to homeownership and quality, affordable rental housing for millions of people across America. We enable the 30-year fixed-rate mortgage and drive responsible innovation to make homebuying and renting easier, fairer, and more accessible. To learn more, visit:
fanniemae.com | Twitter | Facebook | LinkedIn | Instagram | YouTube | Blog

Media Contact
Matthew Classick
202-752-3662

Fannie Mae Newsroom
https://www.fanniemae.com/news

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Fannie Mae Resource Center
1-800-2FANNIE

SEATTLE — After a nearly two-year slowdown, year-over-year home value growth rose from the month prior in February. The typical home value in the U.S. is now $247,084, a 3.9% increase from a year ago, according to the February Zillow® Real Estate Market Reporti.

U.S. home values have not fallen on an annual basis since summer 2012, and have only done so in a few of the most expensive markets in recent years. But the rate of annual appreciation nationally had slowed in each month between May 2018, when they grew 6.7% year-over-year, and January 2020, when they grew 3.8%.

This turn in home values comes as for-sale inventory again fell to a new low in Zillow data that dates back to 2013. Inventory is down 8.4% in the U.S. and 29.4% in Phoenix, which had the biggest annual gain in home values among the 35 largest U.S. metros. This continued tightening of homes on the market, along with incredibly low mortgage rates that make monthly payments more affordable, continues to be a key factor putting pressure on prices as buyers compete for the limited homes that are available.

The economic impacts of the coronavirus pandemic were only beginning to be revealed as February ended, so it is possible this reacceleration will be a blip, not a trend, and reverse itself in the coming months. The U.S. economy has entered a bear market, with major financial indices falling by more than 25% since the beginning of the year. Zillow research on past pandemics has shown that home sales activity slowed during the outbreak, sometimes significantly, but prices remained stable and the market recovered quickly once the outbreak subsided.

If the U.S. were to fall into an economic recession, that would dampen the outlook for housing somewhat as that often means a recovery will be slower and more prolonged. But it’s unlikely a recession now would have the same impact on the housing market as the Great Recession did in the mid-2000s. Previous research by Zillow about other economic downturns over the past 23 years shows that, historically, home values tend to rise faster than inflation during a recession.

“Zillow’s February numbers show the strong position the housing market was in just ahead of the novel coronavirus’s spread in the United States, and the subsequent stock market downturn,” said Jeff Tucker, economist at Zillow. “In February we saw inventory stuck near record lows, which was finally enough to reignite home price appreciation after a cooler 2019. Homebuyers were flocking to the market this winter with their finances buttressed by the longest economic expansion in memory, and with their purchasing power magnified by rock-bottom mortgage interest rates. Now, though, as so much is uncertain, we are entering uncharted territory for the housing market.”

Home value growth accelerated from January to February in 23 of the 35 largest U.S. metros. The acceleration was greatest in expensive West Coast markets, led by San Jose, which saw positive annual home value growth for the first time since January 2019. Home values grew the most year-over-year in Phoenix (+7%), Columbus (+6.3%) and Charlotte (+5.8%).

Mortgage rates listed by third-party lenders on Zillow rose to a peak of 3.91% on February 28 after starting the month at 3.75%. Rates reached their monthly low on February 27 at 3.7%. Zillow’s real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgages site by third-party lenders and reflect recent changes in the market.

Metropolitan
Area

Zillow Home
Value Index,
February
2020

ZHVI Year-
over-Year
Change,
February
2020

ZHVI YOY
Percentage
Change From
Last Month

Inventory Year-
over-Year Change
(Percentage),
February 2020

Inventory
Year-over-
Year Change
(Number),
February 2020

United States

$247,084

3.9%

0.1%

-8.4%

-135,705

New York, NY

$483,379

0.9%

0.1%

-3.9%

-3,480

Los Angeles-
Long Beach-
Anaheim, CA

$687,810

4.1%

1.7%

-20.1%

-5,899

Chicago, IL

$240,595

1.0%

0.0%

1.3%

590

Dallas-Fort
Worth, TX

$254,821

2.2%

-0.1%

-6.1%

-2,079

Philadelphia,
PA

$250,156

3.2%

0.1%

-13.2%

-3,677

Houston, TX

$218,783

2.2%

-0.3%

-4.3%

-1,595

Washington,
DC

$437,409

3.0%

-0.2%

-8.9%

-1,860

Miami-Fort
Lauderdale, FL

$303,426

2.5%

0.7%

-10.4%

-6,163

Atlanta, GA

$241,153

5.0%

0.2%

-5.2%

-1,899

Boston, MA

$491,740

2.1%

0.2%

-11.2%

-1,662

San Francisco,
CA

$1,118,362

2.7%

1.7%

-14.6%

-1,158

Detroit, MI

$180,039

3.8%

0.1%

5.4%

1,050

Riverside, CA

$386,644

3.4%

0.3%

-18.4%

-3,873

Phoenix, AZ

$290,720

7.0%

0.3%

-29.4%

-7,625

Seattle, WA

$535,121

4.3%

1.3%

-26.7%

-3,181

Minneapolis-St
Paul, MN

$294,680

4.0%

0.1%

-1.5%

-193

San Diego, CA

$619,887

5.0%

1.3%

-24.7%

-2,424

St. Louis, MO

$179,884

2.9%

-0.3%

-7.5%

-961

Tampa, FL

$231,247

4.3%

0.4%

-16.5%

-3,451

Baltimore, MD

$291,929

1.1%

0.0%

-9.7%

-1,249

Denver, CO

$441,557

2.5%

0.3%

-17.4%

-1,867

Pittsburgh, PA

$159,187

4.2%

-0.4%

-11.8%

-1,209

Portland, OR

$420,531

2.0%

0.2%

-16.2%

-1,577

Charlotte, NC

$238,651

5.8%

0.2%

-14.4%

-1,690

Sacramento, CA

$435,941

5.1%

1.0%

-15.3%

-1,091

San Antonio, TX

$205,179

3.2%

-0.7%

5.9%

702

Orlando, FL

$256,896

3.6%

-0.1%

-14.8%

-2,077

Cincinnati, OH

$185,754

4.4%

-0.5%

-15.5%

-1,177

Cleveland, OH

$159,405

4.7%

0.3%

-10.2%

-1,067

Kansas City,
MO

$205,552

3.6%

0.0%

-12.4%

-1,061

Las Vegas, NV

$293,030

1.1%

-0.1%

-21.4%

-2,889

Columbus, OH

$212,422

6.3%

0.1%

-7.2%

-429

Indianapolis, IN

$181,438

5.0%

0.2%

N/A

N/A

San Jose, CA

$1,224,923

0.4%

3.4%

-19.7%

-604

Austin, TX

$339,033

3.5%

-0.5%

-13.7%

-1,296

About Zillow
Zillow, the top real estate website in the U.S., is building an on-demand real estate experience. Whether selling, buying, renting or financing, customers can turn to Zillow’s businesses to find and get into their next home with speed, certainty and ease.

In addition to for-sale and rental listings, Zillow Offers buys and sells homes directly in dozens of markets across the country, allowing sellers control over their timeline. Zillow Home Loans, our affiliate lender, provides our customers with an easy option to get pre-approved and secure financing for their next home purchase.

Millions of people visit Zillow Group sites every month to start their home search, and now they can rely on Zillow to help them finish it — with the same confidence, ease and empowerment they’ve come to expect from real estate’s most trusted brand.

Launched in 2006, Zillow is owned and operated by Zillow Group, Inc. (NASDAQ:Z and ZG) and headquartered in Seattle.

Zillow and Zillow Offers are registered trademarks of Zillow, Inc.

i The Zillow Real Estate Market Reports are a monthly overview of the national and local real estate markets. The reports are compiled by Zillow Real Estate Research. For more information, visit www.zillow.com/research/. The data in Zillow’s Real Estate Market Reports are aggregated from public sources by a number of data providers for 928 metropolitan and micropolitan areas dating back to 1996. Mortgage and home loan data are typically recorded in each county and publicly available through a county recorder’s office. All current monthly data at the national, state, metro, city, ZIP code and neighborhood level can be accessed at www.zillow.com/research/data.

SEATTLE, – Today, Zillow® Digs®, a home improvement and design inspiration marketplace, announced the top home storage trends for spring. Built-in cabinets, cubbies with baskets or trays, and repurposed antique furniture are the three biggest home organization trends according to the latest Zillow Digs Home Design Trend Report.

Spring Storage Trends from Zillow Digs Home Design Trend Report
While more than half (59%) of homeowners are planning remodels, the expected median spring renovation spending is down to $700, which is the lowest amount of planned spending since Zillow started recording home improvement spending trends.[i] Instead of investing in larger-scale remodels, homeowners are getting creative with how they spend their dollars, and are planning smaller projects that are better suited for spring cleaning and organizing.

This one-of-a-kind trend report depends on a survey of members of the Zillow Digs Board of Designers, a group of design experts from across the country, and the most popular storage and organization photos on Zillow Digs.

The top home organization trends for this spring are:

Built-In Cabinets: For the 59 percent of homeowners planning a spring remodel, the Zillow Digs Board of Designers say built-in cabinets or lockers will be a top renovation project for the season. Locker-style built-ins with coat hooks and benches are especially popular in mud and laundry rooms because of their accessibility and convenient storage solutions for coats, shoes and other household items. Zillow Digs Board of Designers Member, Vanessa Deleon of Vanessa Deleon Associates in New York City, recommends incorporating built-in cabinets with “detailed woodwork and knobs” to keep storage stowed away in style.

Cubby Storage: Organized, open storage solutions are a growing trend extending far beyond the kitchen. Hide everyday storage in plain sight by grouping like items together on trays, or for less visually appealing goods, store them inside beautiful wicker baskets displayed on open shelves or tucked into cubbies. Zillow Digs Board of Designers Member, Kerrie Kelly of Kerrie Kelly Design Lab in Sacramento, Calif., reminds homeowners that spring cleaning is all about “keeping things simple, light and bright, with an emphasis on the open shelving trend.” Think about how to reorganize in ways that keep your home open and bright.

Repurposed Antique Furniture: Since renovation spending is down, homeowners are thinking of creative ways to bring new life into their homes without breaking the bank. Repurposing antique furniture into hidden storage solutions is a popular trend among interior designers and homeowners alike. An old trunk can double as the perfect coffee table, and a retrofitted rolling cart in the kitchen can be used to store wine glasses, linens, or even small appliances. Zillow Digs Board of Designers Member, Mara Miller of Carrier and Company Interiors Ltd. in New York City, advises homeowners to be selective with their antiques and use “beautiful pieces of furniture” for a welcoming and “instant design statement.”

With Zillow Digs, homeowners can browse more than 400,000 photos of interiors and exteriors of real homes, organized by space, style, cost and color. Patent-pending Digs Estimates help people understand what it would cost in their geographic location to recreate the actual bathrooms and kitchens they are viewing. In addition, Zillow Digs users can collect images, share favorites and follow others for inspiration, from the Zillow Digs App for iPhone® and iPad® or on the Web.

About Zillow, Inc.
Zillow, Inc. (NASDAQ:Z) operates the leading real estate and home-related information marketplaces on mobile and the Web, with a complementary portfolio of brands and products that help people find vital information about homes, and connect with the best local professionals. Zillow’s brands serve the full lifecycle of owning and living in a home: buying, selling, renting, financing, remodeling and more. In addition, Zillow offers a suite of tools and services to help local real estate, mortgage, rental and home improvement professionals manage and market their businesses. Welcoming 70 million unique users during its peak month in 2014, the Zillow, Inc. portfolio includes Zillow.com®, Zillow Mobile, Zillow Mortgage Marketplace, Zillow Rentals, Zillow Digs™, Postlets®, Diverse Solutions®, Agentfolio®, Mortech®, HotPads™ and StreetEasy®. The company is headquartered in Seattle.

This news is courtesy of www.zillow.com

IRVINE, Calif., April 1, 2021 /PRNewswire/ — ATTOM Data Solutions, curator of the nation’s premier property database, today released its first-quarter 2021 U.S. Home Affordability Report, showing that median home prices of single-family homes and condos in the first quarter of this year were more affordable than historical averages in 52 percent of counties with enough data to analyze. That was down from 63 percent of counties in the first quarter of 2020 and 95 percent during the same period five years ago. But rising wages and falling mortgage rates still compensated for near-20 percent spikes in home prices over the past year, helping to keep median home prices affordable for average wage earners around the country.

The report determined affordability for average wage earners by calculating the amount of income needed to meet monthly home ownership expenses — including mortgage, property taxes and insurance — on a median-priced home, assuming an 80 percent down payment and a 28 percent maximum “front-end” debt-to-income ratio. That required income was then compared to annualized average weekly wage data from the Bureau of Labor Statistics (see full methodology below). The 80-percent down payment criterion marks an update to ATTOM’s affordability analysis, which now shows smaller portions of income needed to afford home ownership than recent reports.

Compared to historical levels, median home prices in 287 of the 552 counties analyzed in the first quarter of 2021 were more affordable than past averages. That was down from 349 of the same group of counties in the first quarter of 2020, a trend that came during a 12-month period when the national median home price shot up 18 percent, to $278,000, in the first quarter of 2021.

Yet, with workplace pay rising and home mortgage rates continuing to hit historic lows, major expenses on a median-priced home nationwide still consumed just 23.7 percent of the average wage across the country in the first quarter of 2021. That figure was up from 22 percent in first quarter of 2020 and from 19.7 percent five years ago. But it remained well within the 28 percent standard lenders prefer for how much homeowners should spend on those major expenses.

Those mixed trends – homes remaining affordable but not quite as much as they have historically – happened amid a surge over the past year of home buyers who largely escaped the economic damage caused by the recent worldwide Coronavirus pandemic. As those home seekers pursued a dwindling supply of homes for sale, prices shot up – just not enough to significantly outweigh the benefits of increased wages and average mortgage rates that sat below 3 percent.

“The past year certainly has been an odd one for the U.S. housing market. Home prices surged at a remarkable pace even as the virus pandemic damaged the U.S. economy, which dropped historical affordability levels. But average workers untarnished by the pandemic were still able to afford the typical home because wages and rock-bottom interest rates worked to their favor in a big way,” said Todd Teta, chief product officer with ATTOM Data Solutions. “Much remains uncertain about the housing market in 2021. A lot will depend on how well the broader U.S. economy recovers from the pandemic and whether there are still many more buyers looking to escape congested neighborhoods most prone to the virus, pushing prices even higher. But for now, our data shows that average workers are able to manage the costs associated with rising values.”

Among the 552 counties in the report, 327 (59 percent) had major home-ownership expenses on typical homes in the first quarter of 2021 that were affordable for average local wage earners, based on the 28-percent guideline. The largest of those counties were Cook County (Chicago), IL; Harris County (Houston), TX; Dallas County, TX; Bexar County (San Antonio), TX, and Wayne County (Detroit), MI.

The most populous of the 225 counties where major expenses on median-priced homes were unaffordable for average local earners in the first quarter of 2021 (41 percent of the counties analyzed) were Los Angeles County, CA; Maricopa County (Phoenix), AZ; San Diego County, CA; Orange County, (outside Los Angeles), CA and Miami-Dade County, FL.

Home prices up at least 10 percent in two-thirds of country

Median home prices in the first quarter of 2021 were up by at least 10 percent from the first quarter of 2020 in 360, or 65 percent, of the 552 counties included in the report. Counties were included if they had a population of at least 100,000 and at least 50 single-family home and condo sales in the first quarter of 2021.

Among the 42 counties with a population of at least 1 million, the biggest year-over-year gains in median prices during the first quarter of 2021 were in Wayne County (Detroit), MI (up 24 percent); Suffolk County, NY (outside New York City) (up 20 percent); Bronx County, NY (up 19 percent); Maricopa County (Phoenix), AZ (up 19 percent) and Harris County (Houston), TX (up 18 percent).

Counties with a population of at least 1 million that had the smallest year-over-year increases (or price declines) in the first quarter of 2021 were New York County (Manhattan), NY (down 2 percent); Santa Clara County (San Jose), CA (up 7 percent); Hennepin County (Minneapolis), MN (up 7 percent); Kings County (Brooklyn), NY (up 8 percent) and Orange County, CA (outside Los Angeles) (up 8 percent).

Price appreciation up more than wage growth in almost 90 percent of markets

Home price appreciation outpaced average weekly wage growth in the first quarter of 2021 in 474 of the 552 counties analyzed in the report (86 percent), with the largest counties including Los Angeles County, CA; Cook County (Chicago), IL; Harris County (Houston), TX; Maricopa County (Phoenix), AZ and San Diego County, CA.

Average annualized wage growth outpaced home price appreciation in the first quarter of 2021 in only 78 of the 552 counties in the report (14 percent), including Santa Clara County (San Jose), CA; New York County (Manhattan), NY; Honolulu County, HI; San Francisco County, CA and Suffolk County (Boston), MA.

Less than 28 percent of wages needed to buy a home in six of every 10 markets

Major ownership costs on median-priced homes in the first quarter of 2021 consumed less than 28 percent of average local wages in 327 of the 552 counties analyzed in this report (59 percent).

Counties requiring the smallest percent were Schuylkill County, PA (outside Allentown) (6.3 percent of annualized weekly wages needed to buy a home); Bibb County (Macon), GA (8.3 percent); Fayette County, PA (outside Pittsburgh) (8.4 percent); Macon County (Decatur), IL (9.9 percent) and Robeson County, NC (outside Fayetteville) (10.6 percent).

Among the 42 counties in the report with a population of at least 1 million, those where home ownership typically consumed less than 28 percent of average local wages in the first quarter of 2021 included Wayne County (Detroit), MI (12.2 percent); Philadelphia County, PA (14.1 percent); Cuyahoga County (Cleveland), OH (14.4 percent); Fulton County (Atlanta), GA (19.4 percent) and Franklin County (Columbus), OH (19.5 percent).

A total of 225 counties in the report (41 percent) required more than 28 percent of annualized local weekly wages to afford a typical home in the first quarter of 2021. Those counties that required the greatest percentage of wages were Kings County (Brooklyn), NY (75.7 percent of annualized weekly wages needed to buy a home); Marin County, CA (outside San Francisco) (75.5 percent); Santa Cruz County, CA (69.9 percent); Monterey County, CA, (outside San Francisco) (68.1 percent) and Maui County, HI (65.9 percent).

Aside from Kings County, NY, counties with a population of at least 1 million where home ownership consumed more than 28 percent of average annualized local wages in the first quarter included Orange County, CA (outside Los Angeles) (57.7 percent); Queens County, NY (56.3 percent); Nassau County, NY (outside New York City) (53.5 percent) and Alameda County (Oakland), CA (51.6 percent).

Average wages needed to afford median-priced home exceed $75,000 in less than 15 percent of markets

Annual wages of more than $75,000 were needed in the first quarter of 2021 to afford the typical home in just 75, or 14 percent, of the 552 markets in the report.

The highest annual wages required to afford the typical home were in New York County (Manhattan), NY ($247,802); San Mateo County (outside San Francisco), CA ($230,848); Marin County (outside San Francisco), CA ($218,830); San Francisco County, CA ($212,892) and Santa Clara County (San Jose), CA ($207,691).

The lowest annual wages required to afford a median-priced home in the first quarter of 2021 were in Schuylkill County, PA (outside Allentown) ($10,089); Fayette County, PA (outside Pittsburgh) ($12,957); Bibb County (Macon), GA ($13,708); Robeson County, NC (outside Fayetteville) ($14,133) and Cambria County, PA (east of Pittsburgh) ($16,251).

Slight majority of housing markets more affordable than historic averages

Among the 552 counties analyzed in the report, 287 (52 percent) were more affordable in the first quarter of 2021 than their historic affordability averages, down from 63 percent of the same group of counties that were more affordable historically in the first quarter of 2020.

Counties with a population of at least 1 million that were more affordable than their historic averages (indexes of more 100 are considered more affordable compared to historic averages) included New York County (Manhattan), NY (index of 128); Montgomery County, MD (outside Washington, D.C.) (121); Cook County (Chicago), IL (114); King County (Seattle), WA (110) and Santa Clara County (San Jose), CA (108).

Counties with the best affordability indexes in the first quarter of 2021 included Schuylkill County, PA (outside Allentown) (index of 195); Macon County (Decatur), IL (188); Fayette County, PA (outside Pittsburgh) (171); Calcasieu Parish (Lake Charles), LA (149) and Bibb County (Macon), GA (146).

Among counties with a population of at least 1 million, those where the affordability indexes improved the most from the first quarter of 2020 to the first quarter of 2021 were New York County (Manhattan), NY (index up 14 percent); Santa Clara County (San Jose), CA (up 7 percent); Orange County, CA (outside Los Angeles) (up 3 percent); Kings County (Brooklyn), NY (up 3 percent) and Hennepin County (Minneapolis), MN (up 2 percent).

Slightly fewer than half of markets less affordable than historic averages

Among the 552 counties in the report, 265 (48 percent) were less affordable than their historic affordability averages in the first quarter of 2021, up from 37 percent in the first quarter of last year.

Counties with a population greater than 1 million that were less affordable than their historic averages (indexes of less than 100 are considered less affordable compared to their historic averages) included Wayne County (Detroit), MI (index of 78); Dallas County, TX (81); Tarrant County (Fort Worth), TX (82); Harris County (Houston), TX (83) and Maricopa County (Phoenix), AZ (86).

Counties with the worst affordability indexes in the first quarter of 2021 were Canyon County, ID (outside Boise) (index of 67); Grayson County, TX (outside Dallas) (72); Ada County (Boise), ID (74); St. Louis City/County, MO (75) and Bonneville County (Idaho Falls), ID (76).

Counties with a population of least 1 million residents where affordability indexes decreased the most from the first quarter of 2020 to the same period in 2021 included Wayne County (Detroit), MI (index down 11 percent); Harris County (Houston), TX (down 11 percent); Dallas County, TX (down 8 percent); Bronx County (down 8 percent) and Oakland County, MI (outside Detroit) (down 8 percent).

Report Methodology

The ATTOM Data Solutions U.S. Home Affordability Index analyzes median home prices derived from publicly recorded sales deed data collected by ATTOM Data Solutions and average wage data from the U.S. Bureau of Labor Statistics in 552 U.S. counties with a combined population of 245.7 million. The affordability index is based on the percentage of average wages needed to pay for major expenses on a median-priced home with a 30-year fixed rate mortgage and an 80 percent down payment. Those expenses include property taxes, home insurance, mortgage payments and mortgage insurance. Average 30-year fixed interest rates from the Freddie Mac Primary Mortgage Market Survey were used to calculate the monthly house payments.

The report determined affordability for average wage earners by calculating the amount of income needed for major home ownership expenses on a median-priced home, assuming a loan of 20 percent of the purchase price and a 28 percent maximum “front-end” debt-to-income ratio. For example, the nationwide median home price of $278,000 in the first quarter of 2021 required an annual wage of $52,523, based on a $222,400 loan and monthly expenses not exceeding the 28 percent barrier — meaning households would not be spending more than 28 percent of their income on mortgage payments, property taxes and insurance. That required income was less than the $61,984 average wage nationwide based on the most recent average weekly wage data available from the Bureau of Labor Statistics, making a median-priced home nationwide unaffordable for average workers.

About ATTOM Data Solutions

ATTOM Data Solutions provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through *flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, marketing lists, match & append and introducing the first property data delivery solution, a cloud-based data platform that streamlines data management – Data-as-a-Service (DaaS).

Media Contact:

Christine Stricker

949.748.8428

christine.stricker@attomdata.com

SEATTLE, April 4, 2019 — A home’s listed features can have a significant impact on how much it sells for and how quickly it sells. Zillow’s 2019 Home Features that Sell Analysis found that for-sale listings mentioning ‘steam oven’ or ‘professional appliance’ sold for up to 34 percent more than expected. Six out of the top ten features in homes that sold for more than expected were entertainer-friendly kitchen amenities.

Zillow® analyzed the listing descriptions from 4.6 million home sales around the country that were posted in 2017 and 2018 to identify what features and design styles fetched a higher sale price or a faster sale that would be expected based on the home’s basic traits and location. The analysis also identified the metro area where that feature was most commonly mentioned in for-sale listing descriptions.

For-sale listings mentioning ‘steam ovens,’ a wall oven that steams food, saw the highest sale premium of all the keywords analyzed, selling for 34 percent more than expected. However, homes featuring ‘steam ovens’ were also the slowest to sell, staying on the market 22 days longer than other similar homes in the same metro and price tier. High-end, custom kitchen features may only appeal to certain buyers, but those buyers appear willing to pay more when they find a home with a kitchen that suits their taste.

“Having a steam oven, a heated floor or other luxury features in the home is a signal that there are more than the home’s basic features at play. These homes are special. They likely come with an elevated design sense and the extra touches valued by home shoppers who are willing to pay,” says Skylar Olsen, director of economic research at Zillow. “If you have these features, flaunt them.”

For starter homesi purchased primarily by first-time buyers, listings mentioning ‘free-standing tub,’ ‘pizza oven’ or ‘wine cellar’ sold for more than expected. This could reflect the lifestyle millennialii homeowners want to live and the needs of young families.

Fast sales were associated with trendy design features made popular by home improvement TV shows, such as ‘open shelving’ (homes with this feature sold 11 days faster than expected) and ‘subway tile’ (10 days faster).

Homes with some features sold for both more than expected and faster than expected. Those features include a ‘shed/garage studio’ (26% more than expected, 8 days faster than expected), ‘exposed brick’ (22% more, 9 days faster) and ‘mid-century’ design style (17% more, 11 days faster.)

“While it’s important to understand what’s popular with buyers, ultimately your home is a reflection of your personal style and how you want to live,” says Kerrie Kelly, Zillow Design Expert and founder of Kerrie Kelly Design Lab. “You should design a home that makes you happy every day with features you love, knowing that future buyers may want to adapt it to create their own dream home.”

Home Feature Keyword

(All homes)

Effect (% homes sell for
above expected values)

Most Common Metro

Steam oven

34%

Los Angeles, CA

Professional appliance

32%

Los Angeles, CA

Wine cellar

31%

Los Angeles, CA

Steam shower

31%

Chicago, IL

Pot filler

27%

Dallas, TX

Shed/Garage studio

26%

Los Angeles, CA

Heated floor

26%

New York, NY

Waterfall countertop

26%

Los Angeles, CA

Outdoor kitchen

25%

Dallas, TX

Prep sink

24%

Los Angeles, CA

Home Feature Keyword

(Starter homes)

Effect (% homes sell for
above expected values)

Most Common Metro

Free-standing bathtub

59%

Dallas, TX

Pot filler

49%

New York, NY

Wine cellar

47%

San Francisco, CA

Pizza oven

46%

San Francisco, CA

Solar panel

40%

New York, NY

Prep sink

39%

Los Angeles, CA

Craftsman

38%

Seattle, WA

Dual range oven

36%

New York, NY

Coffered ceiling

32%

Seattle, WA

Mid-century

32%

Seattle, WA

Zillow
Zillow is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the place they call home, and connecting them with great real estate professionals. In addition, Zillow operates an industry-leading economics and analytics bureau led by Zillow Group’s Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housing data and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price Expectations Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home Value Index over the next five years. Launched in 2006, Zillow is owned and operated by Zillow Group, Inc. (NASDAQ:Z and ZG), and headquartered in Seattle.

SAN FRANCISCO, — HotPads™, the leading map-based home and apartment rental search engine and a Zillow® (NASDAQ: Z) company, today announced it has redesigned its popular website and mobile apps to make the experience of searching for a rental faster and easier. With intuitive new features and tools, the HotPads app and search engine allow renters to find their next home in a snap.

HotPads’ new design offers a robust and efficient search experience for renters, especially those in urban areas who are often under pressure to find a home to rent quickly. Focused on speed, HotPads is able to now surface even more information, faster, allowing prospective renters to view all available options in their selected neighborhood or city. New map graphics and larger images make it easier to identify the rental properties of interest. A scrolling home page, expanding search tool and quick links to the most popular cities make the entire search process faster to navigate.

New features were also added, including Rent Zestimates®, the ability to see the estimated market value for an individual home or apartment for rent, and Street View, the ability to view three-dimensional photography of a property’s exterior and surrounding streets without leaving the HotPads site. HotPads also built a rich mobile web experience that acts just like the mobile app so that anyone, regardless of operating system or device, can easily search for their next place to live.

“Rental markets are moving faster than ever, and there is more competition for homes and apartments – especially in urban markets where HotPads’ young, mobile and tech-savvy users tend to live,” said Matt Corgan, HotPads co-founder and general manager. “HotPads has completely revitalized its site with this in mind, including a whole new look and feel, and a user-experience designed to help renters find a place to rent faster by giving them more information, and making that information easier to find.”

Everyone searching for a home or apartment to rent on HotPads, on any device, can quickly and easily access all of the features the site offers to help them find their next home, including:

Map-Based Search: Zoom into neighborhoods to see what’s available, and where the nearest points of interest are.
Rent Zestimates: See Zillow’s estimated monthly rent prices for each property.
Street View: Easily tour building exteriors and surrounding neighborhoods in three-dimensions without leaving the site.
Verified Listings: Identify the qualified listings from the most reputable sources at-a-glance.
One-Click Call: Contact the listing agent or owner directly by phone from the site when browsing from a mobile phone.
Schools & School Boundaries: Search for a home within a particular school zone.
Public Transportation: See which public transportation options, including subway and train stations, are near each listing.
Walk Score® Data: Determine with one look just how walkable, bikeable, and accessible via public transit a home or apartment is.
HotPads is available on the Web and optimized for mobile at hotpads.com. HotPads also operates five popular mobile apps across iPhone®, iPad® and Android®. The HotPads iOS App is available for free from the App Store on iPhone and iPad at http://bit.ly/1oRncPC. The free app for Andriod can be found at http://bit.ly/1kV4ndh.

About HotPads™
HotPads is a leading map-based apartment and home rental search engine, and is a top destination for renters looking to find a home in urban areas. HotPads is an established and significant player in rentals for both consumers and professionals, and offers a robust website and five mobile apps across iPhone, iPad and Android. HotPads is part of the Zillow, Inc. portfolio of brands. The company is based in San Francisco.

WASHINGTON, DC – The Fannie Mae Home Purchase Sentiment Index® (HPSI) fell 3.7 points in February to 85.8, reversing last month’s increase. The decline can be attributed to decreases in five of the six HPSI components. The net share of respondents who said now is a good time to buy a home decreased 5 percentage points compared to January. Additionally, the net share who reported that now is a good time to sell a home decreased 2 percentage points. The net share who said home prices will go up in the next 12 months decreased 7 percentage points in February, while the net share of consumers who said mortgage rates will go down over the next 12 months also decreased 7 percentage points. Americans expressed a weakened sense of job security, with the net share who say they are not concerned about losing their job decreasing 2 percentage points. Finally, the net share reporting that their income is significantly higher than it was 12 months ago increased 1 percentage point.

“Volatility in consumer housing sentiment continued into February, with the new tax law beginning to impact respondents’ take-home pay and the stock market creating negative headlines due to early-month turbulence,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “Additionally, consumers’ expectations for higher mortgage rates suggest that consumers expect the Fed to hike rates a few more times in 2018. We will continue to track how consumer housing attitudes trend in the coming months as these various market forces play out.”

HOME PURCHASE SENTIMENT INDEX – COMPONENT HIGHLIGHTS

Fannie Mae’s 2018 Home Purchase Sentiment Index (HPSI) decreased in February by 3.7 points to 85.8. The HPSI is down 2.5 points compared with the same time last year.

The net share of Americans who say it is a good time to buy a home decreased 5 percentage points to 22%.
The net share of those who say it is a good time to sell fell 2 percentage points to 36%.
The net share of Americans who say home prices will go up decreased 7 percentage points to 45% in February.
The net share of those who say mortgage rates will go down over the next 12 months fell 7 percentage points to -57%.
The net share of Americans who say they are not concerned about losing their job fell 2 percentage points to 71%.
The net share of those who say their household income is significantly higher than it was 12 months ago rose 1 percentage point to 17%. The share who say their household income is significantly lower than it was 12 months ago fell 2 percentage points to 9%, matching a survey low last seen in February 2017.
ABOUT FANNIE MAE’S HOME PURCHASE SENTIMENT INDEX
The Home Purchase Sentiment Index (HPSI) distills information about consumers’ home purchase sentiment from Fannie Mae’s National Housing Survey® (NHS) into a single number. The HPSI reflects consumers’ current views and forward-looking expectations of housing market conditions and complements existing data sources to inform housing-related analysis and decision making. The HPSI is constructed from answers to six NHS questions that solicit consumers’ evaluations of housing market conditions and address topics that are related to their home purchase decisions. The questions ask consumers whether they think that it is a good or bad time to buy or to sell a house, what direction they expect home prices and mortgage interest rates to move, how concerned they are about losing their jobs, and whether their incomes are higher than they were a year earlier.

ABOUT FANNIE MAE’S NATIONAL HOUSING SURVEY
The most detailed consumer attitudinal survey of its kind, Fannie Mae’s National Housing Survey (NHS) polled approximately 1,000 Americans via live telephone interview to assess their attitudes toward owning and renting a home, home and rental price changes, homeownership distress, the economy, household finances, and overall consumer confidence. Homeowners and renters are asked more than 100 questions used to track attitudinal shifts, six of which are used to construct the HPSI (findings are compared with the same survey conducted monthly beginning June 2010). As cell phones have become common and many households no longer have landline phones, the NHS contacts 70 percent of respondents via their cell phones (as of January 2018). For more information, please see the Technical Notes. Fannie Mae conducts this survey and shares monthly and quarterly results so that we may help industry partners and market participants target our collective efforts to stabilize the housing market in the near-term, and provide support in the future. The February 2018 National Housing Survey was conducted between February 1, 2018 and February 23, 2018. Most of the data collection occurred during the first two weeks of this period. Interviews were conducted by PSB, in coordination with Fannie Mae.

Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit fanniemae.com and follow us on twitter.com/fanniemae.

WASHINGTON, DC – The Fannie Mae (FNMA/OTCQB) Home Purchase Sentiment Index® (HPSI) increased 1.8 points in September to 73.9, its highest level in more than two years, as consumers reported survey-high optimism that mortgage rates will decline over the next 12 months. In September, a record 42% of consumers said they expect mortgage rates to decline, up from 39% the month prior and 24% in June. This compares to 31% who expect mortgage rates to stay the same and 27% who expect rates to increase. However, a plurality of consumers also indicated that they expect home prices to increase over the next 12 months, which would offset some of the expected rate-driven improvement to affordability. Respondents’ perception of homebuying conditions ticked up slightly this month but remains not far from its all-time low, with only 19% indicating it’s a good time to buy a home. On the flip side, 65 percent of consumers think it’s a good time to sell a home. The full index is up 9.4 points year over year.

“Although most consumers continue to think it’s a ‘bad time’ to buy a home, the recent shift in attitude toward mortgage rates is pushing overall housing sentiment higher, and a growing share are now pointing to high home prices rather than high mortgage rates as the primary sticking point for affordability,” said Mark Palim, Fannie Mae Senior Vice President and Chief Economist. “Increased positivity that mortgage rates will continue to fall has driven the HPSI to a 30-month high, but we’ve yet to see consumers’ newfound rate optimism translate into a meaningful increase in home sales activity. Instead, as we noted in our latest housing forecast, existing home sales are on pace to record their lowest annual total since 1995. This signals to us that consumers are paying attention to the easing interest rate environment but still feel stymied by the considerable run-up in home prices over the last four years.”

Palim continued: “Notably, housing sentiment among renters, a common source of first-time homebuyers, has improved at approximately the same pace as homeowners. Over the last three months, the share of renters believing it’s a good time to buy a home has risen from 13% to 20%, while the share expecting mortgage rates to fall has risen from 16% to 30%. While these numbers are still relatively low, we think the improvement may signal that some potential homebuyers who have been waiting for mortgage rates to come down may be closer to coming off the sidelines, despite their ongoing concerns about home prices.”

Home Purchase Sentiment Index – Component Highlights
Fannie Mae’s Home Purchase Sentiment Index (HPSI) increased 1.8 points in September to 73.9. The HPSI is up 9.4 points compared to the same time last year. Read the full research report for additional information.

Good/Bad Time to Buy: The percentage of respondents who say it is a good time to buy a home increased 2 percentage points this month (19%) while the percentage who say it is a bad time to buy decreased from 83% to 81%. As a result, the net share of those who say it is a good time to buy increased 3 percentage points month over month to -62%.
Good/Bad Time to Sell: The percentage of respondents who say it is a good time to sell a home (65%) remained unchanged from last month, while the percentage who say it’s a bad time to sell (35%) increased 1 percentage point. As a result, the net share of those who say it is a good time to sell fell 1 percentage point month over month to 30%.

Home Price Expectations: The percentage of respondents who say home prices will go up in the next 12 months increased from 37% to 39% and the percentage who say home prices will go down decreased from 25% to 23%. The share who think home prices will stay the same remained at 37%. As a result, the net share of those who say home prices will go up in the next 12 months increased 3 percentage points month over month to 16%.

Mortgage Rate Expectations: The percentage of respondents who say mortgage rates will go down in the next 12 months increased from 39% to 42%, a new survey high. The percentage who expect mortgage rates to go up increased from 26% to 27%. The share who think mortgage rates will stay the same decreased from 35% to 31%. As a result, the net share of those who say mortgage rates will go down over the next 12 months increased 2 percentage points month over month to 15%, a second consecutive survey high and the highest in NHS history.

Job Loss Concern: The percentage of respondents who say they are not concerned about losing their job in the next 12 months decreased from 78% to 77%, while the percentage who say they are concerned increased 1 percentage point (22%). As a result, the net share of those who say they are not concerned about losing their job decreased 1 percentage point month over month to 56%.

Household Income: The percentage of respondents who say their household income is significantly higher than it was 12 months ago increased from 17% to 18%, while the percentage who say their household income is significantly lower decreased from 14% to 11%. The percentage who say their household income is about the same increased from 68% to 70%. As a result, the net share of those who say their household income is significantly higher than it was 12 months ago increased 5 percentage points month over month to 8%.

About Fannie Mae’s Home Purchase Sentiment Index
The Home Purchase Sentiment Index® (HPSI) distills information about consumers’ home purchase sentiment from Fannie Mae’s National Housing Survey® (NHS) into a single number. The HPSI reflects consumers’ current views and forward-looking expectations of housing market conditions and complements existing data sources to inform housing-related analysis and decision making. The HPSI is constructed from answers to six NHS questions that solicit consumers’ evaluations of housing market conditions and address topics that are related to their home purchase decisions. The questions ask consumers whether they think that it is a good or bad time to buy or to sell a house, what direction they expect home prices and mortgage interest rates to move, how concerned they are about losing their jobs, and whether their incomes are higher or lower than they were a year earlier.

About Fannie Mae’s National Housing Survey
The National Housing Survey (NHS) is a monthly attitudinal survey, launched in 2010, which polls the adult general population of the United States to assess their attitudes toward owning and renting a home, purchase and rental prices, household finances, and overall confidence in the economy. Each respondent is asked more than 100 questions, making the NHS one of the most detailed attitudinal longitudinal surveys of its kind, to track attitudinal shifts, six of which are used to construct the HPSI (findings are compared with the same survey conducted monthly beginning June 2010). For more information, please see the Technical Notes.

Fannie Mae conducts this survey and shares monthly and quarterly results so that we may help industry partners and market participants target our collective efforts to support the housing market. The September 2024 National Housing Survey was conducted between September 1, 2024 and September 19, 2024. Most of the data collection occurred during the first two weeks of this period. The latest NHS was conducted exclusively through AmeriSpeak®, NORC at the University of Chicago’s probability-based panel, in coordination with Fannie Mae and PSB Insights. Calculations are made using unrounded and weighted respondent level data to help ensure precision in NHS results from wave to wave. As a result, minor differences in calculated data (summarized results, net calculations, etc.) of up to 1 percentage point may occur due to rounding.

Detailed HPSI & NHS Findings
For detailed findings from the Home Purchase Sentiment Index and National Housing Survey, as well as a brief HPSI overview and detailed white paper, technical notes on the NHS methodology, and questions asked of respondents associated with each monthly indicator, please visit the Surveys page on fanniemae.com. Also available on the site are in-depth special topic studies, which provide a detailed assessment of combined data results from three monthly studies of NHS results.

To receive e-mail updates with other housing market research from Fannie Mae’s Economic & Strategic Research Group, please click here.

About the ESR Group
Fannie Mae’s Economic and Strategic Research Group, led by Chief Economist Mark Palim, studies current data, analyzes historical and emerging trends, and conducts surveys of consumer and mortgage lender groups to provide forecasts and analyses on the economy, housing, and mortgage markets.

About Fannie Mae
Fannie Mae advances equitable and sustainable access to homeownership and quality, affordable rental housing for millions of people across America. We enable the 30-year fixed-rate mortgage and drive responsible innovation to make homebuying and renting easier, fairer, and more accessible. To learn more, visit:
fanniemae.com | X (formerly Twitter) | Facebook | LinkedIn | Instagram | YouTube | Blog

WASHINGTON, DC – Real economic growth in the U.S. appears ready to exceed 3.0 percent for the second half of the year, providing a sound basis for growth in 2015, according to Fannie Mae’s (FNMA/OTC) Economic & Strategic Research (ESR) Group. The Group’s macroeconomic theme for 2014, Private Forces Move to the Fore, materialized in the second quarter as reduced fiscal uncertainty and slowing monetary intervention helped private sector momentum to build. Although a variety of factors are slowing growth on a global scale, which may discourage the Federal Reserve Board from making any changes in interest rate policy until Q3 2015, the global economic slowdown has had little negative impact on the fundamentals of the U.S. economy so far.

“Given the expected strengthening economic activity in the U.S. in the second half of the year, we continue to expect to finish just above 2 percent growth for all of 2014,” said Fannie Mae Chief Economist Doug Duncan. “The risks are tilted to the downside due to current geopolitical events in Russia, Ukraine, Hong Kong, and the Middle East, as well as the economic slowdown in the Eurozone, China, and Japan. However, recent data suggest these factors have not significantly swayed American consumers. Real consumer spending is poised to pick up in the second half of 2014 from the first half, due in large part to improving labor market conditions, continued declines in gasoline prices, and a subdued pace of inflation.”

“From a housing perspective, we anticipate that overall home sales will be weaker in 2014 than in 2013. For 2015, we expect only a moderate pickup in total home sales but enough to post the best performance since 2007,” said Duncan. “We lowered our expectation for housing starts just slightly to 1 million units for 2014, but our view of mortgage originations has not changed. Our estimate for 2013 was in line with the recent release of 2013 data under the Home Mortgage Disclosure Act, and our projection of total production in 2014 is little changed at approximately $1.1 trillion. For 2015, we are cautiously optimistic that ongoing labor market improvements, low mortgage rates, rising inventories, and some easing of lending standards will boost home sales by roughly 5.0 percent. However, we still believe housing will continue along its upward grind rather than have the breakout year some are expecting.”

Despite the sluggish economic environment, sales of new homes is steeply on the rise. According to real estate industry analysts, there has been an increased demand for new homes by new buyers. As s result, investors have also dumped significant resources into the construction of new homes.

WASHINGTON, DC – A recent rebound in business investment has bolstered expectations for solid economic growth during the remainder of 2014, according to Fannie Mae’s (FNMA/OTC) Economic & Strategic Research (ESR) Group. The robust headline growth in the second quarter was upgraded from 4.0 to 4.2 percent in the government’s second estimate, with contributions from nearly all major GDP components. In addition, recent data through June showed upward revisions on net, suggesting that second quarter growth likely will be revised higher.

“In our September forecast, we see the economy continuing to accelerate toward 3.0 percent growth in the second half of the year, in line with our prior forecast,” said Fannie Mae Chief Economist Doug Duncan. “Business spending and confidence are trending up, and we expect to see a healthy increase in business capital investment in the third quarter following the double-digit annualized gain in the second quarter. Consumer spending fell unexpectedly in July, as more Americans appeared to be building their savings amid weakened income expectations, however a surge in auto sales suggests a reversal in August. If the labor market continues to improve, consumers will likely be more willing to take on additional credit card debt, giving a boost to spending growth. Additionally, a decline in crude oil prices again in August has lowered the cost of gasoline, which we expect to add to disposable income and support spending in the current quarter.”

“Recent housing activity isn’t quite as positive, having shown only lukewarm growth since a promising start to the third quarter, but our forecast is little changed from August,” said Duncan. “Purchase mortgage applications have trended down over the past three months, despite the declining interest rate environment. We believe this suggests a residual conservatism on the part of consumers and supports our view that the pace of growth in the housing sector will be subdued during the remainder of 2014, with modest improvement in 2015.”

For an audio synopsis of the September 2014 Economic Outlook, listen to the podcast on the Economic & Strategic Research site at www.fanniemae.com. Visit the site to read the full September 2014 Economic Outlook, including the Economic Developments Commentary, Economic Forecast, Housing Forecast, and Multifamily Market Commentary.

WASHINGTON – In an effort to help low-income residents become self-sufficient, the U.S. Department of Housing and Urban Development (HUD) today awarded $34.9 million to public housing authorities, public housing resident associations, Native American tribes, and non-profit organizations across the nation to hire or retain service coordinators to help them find jobs, educational opportunities, and achieve economic and housing independence (see list below).

The funding, provided through HUD’s Resident Opportunities and Self Sufficiency – Service Coordinators Program (ROSS-SC) helps grantees hire or retain “service coordinators” who work directly with residents to assess their needs and connect them with education, job training and placement programs, and/or computer and financial literacy services available in their community to promote self-sufficiency.

“It’s part of our mission to help connect public housing residents to better, higher paying jobs and critical services as a means of helping them move beyond public assistance and toward self-sufficiency,” said HUD Secretary Ben Carson. “This funding gives our local partners resources they can use to help residents become economically independent and achieve the dreams they have for themselves and their children.”

The purpose of HUD’s ROSS-SC program is to encourage innovative and locally driven strategies that link public housing assistance with public and private resources to enable HUD-assisted families to increase earned income; reduce or eliminate their need for welfare assistance; and promote economic independence and housing self-sufficiency. These grants provide funding to hire and retain Service Coordinators who will assess the needs of residents of conventional Public Housing or Indian housing and coordinate available resources in the community to meet those needs. In addition, ROSS-SC grants help improve living conditions for seniors, enabling them to age-in-place.
HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all.
More information about HUD and its programs is available on the Internet
at www.hud.gov and https://espanol.hud.gov.

WASHINGTON – Nearly 50 years ago, President Lyndon Johnson signed the Civil Rights Act of 1968 and fair housing became law. In signing the landmark measure, President Johnson declared, “Now, with this bill, the voice of justice speaks again. It proclaims that Fair Housing for all, all human beings who live in this country, is now part of the American way of life.”

April is Fair Housing Month and on April 11, 2018, the U.S. Department of Housing and Urban Development (HUD) will mark 50th anniversary of the Fair Housing Act in a ceremony in Washington, DC. HUD Secretary Ben Carson said that a half a century later, the Fair Housing Act remains a centerpiece of the work HUD is doing to ensure fair, inclusive housing, free from discrimination for all Americans. Watch Secretary Carson’s reflections on the Fair Housing Act.

“It was a seminal moment in our country’s history when the ideals of equality and fairness were embodied in a law that continues to shape our communities and our neighborhoods 50 years later. But the promises of the Fair Housing Act require our constant vigilance to confront housing discrimination in all its forms and to advance fairness on behalf of those seeking their American dream.”

President Lyndon Johnson signs the Fair Housing Act into law with co-sponsors, Senators Edward Brooke (left) and Walter Mondale (right)
President Lyndon Johnson signs the Fair Housing Act into law with co-sponsors, Senators Edward Brooke (left) and Walter Mondale (right).
Co-sponsored by Senators Edward Brooke and Walter Mondale, the Fair Housing Act sought to end residential segregation and ensure all Americans had access to safe and decent housing. The Act originally prohibited discrimination in the sale, rental and financing of housing based on color, race, national origin and religion. Later, the Act was amended to prohibit discrimination based on sex, disability and familial status.

Today, HUD and its state and local partners enforce the Fair Housing Act and support a broad range of education and outreach activities. HUD’s Office of Fair Housing and Equal Opportunity continues to take action against individuals and housing providers that engage in discrimination. Last year alone, HUD and its partner agencies received more than 8,000 complaints alleging discrimination based on one or more of the Fair Housing Act’s seven protected classes.

Every year, HUD, local communities, fair housing advocates, and fair housing organizations across the country enhance the public’s awareness of their housing rights, highlight HUD’s fair housing enforcement efforts, and emphasize the importance of ending housing discrimination.

HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all.
More information about HUD and its programs is available on the Internet
at www.hud.gov and https://espanol.hud.gov.

WASHINGTON – Today, the U.S. Department of Housing and Urban Development’s (HUD) Office of Housing Counseling announced that it published a final rule outlining housing counselor certification requirements for housing counseling conducted in connection with the Indian Housing Block Grant (IHBG) and the Indian Community Development Block Grant (ICDBG) programs. Housing counseling programs are an important tool to help further financial literacy – particularly for low- and moderate- income families. This can be the key to ensuring that potential homebuyers are set for long-term success and that renters avoid eviction. With this rule, HUD is removing previous impediments to participation in the HUD housing counseling program by Tribes, Tribally Designated Housing Entities, and other Tribal entities. HUD expects the rule to expand the number of HUD-certified housing counselors serving the unique needs of Tribal communities.

“Throughout the Biden-Harris Administration, we’ve prioritized strengthening Nation-to-Nation relationships with Tribes by working to reduce historic barriers to housing access,” said HUD Acting Secretary Adrianne Todman. “After more than a year working with Tribes and Tribal Organizations on the proposed rule, HUD is proud to publish this final rule ensuring members of Tribal communities’ access to crucial housing counseling services tailored to their specific needs. We are committed to partnering with Tribes to increase equitable housing and support generational wealth building.”

Both the proposed and final rules were informed by multiple Tribal consultation and listening sessions where Tribes provided input and feedback on HUD’s existing housing counselor certification requirements and the ways in which they should be tailored to meet Tribal needs.

“Removing this barrier means that more Tribal individuals and families can be served by a trusted source within their community – a source that understands their unique cultural perspective and housing needs,” said Assistant Secretary for Housing and Federal Housing Commissioner Julia Gordon. “Tribal members have long been underserved in the housing market.”

“This rule is the result of strong collaboration among HUD’s Offices of Housing Counseling and Native American Programs and Tribal representatives to remove a long-standing barrier to delivering robust and culturally sensitive housing counseling to Tribal members,” said Deputy Assistant Secretary for Housing Counseling David Berenbaum. “We look forward to welcoming more Tribal entities into the HUD housing counseling network.”

With today’s final rule, HUD will implement a new category of HUD-certified housing counselor, called a HUD-certified Tribal housing counselor, and will implement a new Tribal housing counselor certification exam specifically for Tribes that will include adjustments for distinctions in fair housing laws pertaining to Tribes and the unique status of trust land. The provisions of the final rule establish a four-year transition period to allow Tribal grantees sufficient time to ensure that housing counselors can be certified. In addition, HUD will:

Require that housing counseling that is funded with or provided in connection with IHBG or ICDBG funds is performed by individuals who are HUD certified;
Facilitate additional training for counselors who become certified to provide housing counseling for the IHBG and ICDBG programs; and
Modify study materials for housing counselor certification examinations to account for tailored content specific to Tribes.
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HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all.
More information about HUD and its programs is available at www.hud.gov and https://espanol.hud.gov.

You can also follow HUD on Twitter and Facebook or sign up for news alerts on HUD’s Email List.

Learn More About HUD’s Property Appraisal and Valuation Equity Work

WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) awarded $615,922,000 to help hard-hit areas in the State of Florida to recover from Hurricane Irma. The grant announced today by the Trump Administration is provided through HUD’s Community Development Block Grant – Disaster Recovery (CDBG-DR) Program and will support the repair of damaged homes, businesses, and critical infrastructure in the state.

“President Trump and the entire federal family stand with the people of Florida to help them recover from this devastating storm as quickly as possible,” said HUD Secretary Ben Carson. “HUD and the State of Florida will work together to speed the rebuilding of seriously damaged homes and businesses that lack the resources to recover on their own if not for these recovery dollars.”

Governor Scott said, “I want to thank HUD and the Trump Administration for supporting those whose lives were devastated by Hurricane Irma. These funds will help Floridians rebuild their lives following the devastation of Hurricane Irma. We must continue to work to ensure everyone impacted by this storm can fully recover.”

On Sept. 8, President Trump signed the Continuing Appropriations Act, 2018 and the Additional Supplemental Appropriations for Disaster Relief Requirements Act, 2017. The Act appropriated $7.4 billion in CDBG-DR funding for major disasters declared in calendar year 2017. To distribute these funds, the Act requires HUD to direct the funds to the areas most impacted by qualifying disasters. HUD will announce additional grants to other jurisdictions as more data become available on the unmet needs from 2017 disasters including Hurricane Irma, Hurricane Maria and the California fires.

In making today’s allocation to the state of Florida, HUD relied upon information from the Federal Emergency Management Agency (FEMA) and the Small Business Administration (SBA) on the number of seriously damaged homes lacking adequate insurance and businesses that failed to qualify for SBA’s disaster loan program. HUD’s analysis found thousands of middle- and lower income homeowners and renters experienced serious damage to their residences and were not adequately insured for flood damage. Similarly, businesses located within hard-hit areas of the state suffered serious damage from flooding that is not covered by insurance or other resources. The grant announced today is designed to meet needs not being met by private insurance or other sources of federal assistance.

CDBG-DR grants support a variety of disaster recovery activities including housing redevelopment and rebuilding, business assistance, economic revitalization, and infrastructure repair. State and local governments are required to spend the majority of these recovery funds in “most impacted” areas as identified by HUD. HUD will issue administrative guidelines shortly for use of the funds that will increase grantees’ flexibility in addressing their long-term recovery needs, particularly in the area of housing recovery.

HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all.
More information about HUD and its programs is available on the Internet
at www.hud.gov and https://espanol.hud.gov.

Buyers searching for real estate will find more homes for sale overall, but supply of lower-priced homes is growing more slowly than high-priced homes in most of the country.

-Inventory of all for-sale homes nationwide rose 15.8 percent year-over-year.

-The number of homes for sale in the bottom price tier rose less over the last year than the number in the top price tier in most U.S. metros.

-The U.S. Zillow Home Value Index rose to $177,500 in October, up 6.4 percent year-over-year, the slowest annual pace in the last 12 months.

The number of homes for sale continued to increase across the U.S. in October, a good sign for buyers – but with a catch. In many parts of the country, supply increased more among the most expensive homes than low- and mid-priced homes, according to the October Zillow® Real Estate Market Reports[i].

The inventory of for-sale homes[ii] in the bottom home-price tier rose year-over-year in 68.3 percent of the 353 total metro areas analyzed by Zillow, while inventory in the top home price tier rose in 82.2 percent, or 290 of the 353 markets analyzed. Inventory of all homes for sale nationwide increased by 15.8 percent year-over-year.

In Denver, there were almost four times as many homes available for sale in the upper price tier (priced at $357,900 or more) than there were homes priced in the lowest price tier (less than $219,000).

The same was true in many other markets. Dallas, Atlanta, Phoenix and Nashville had at least two times more homes for sale in the top tier than the bottom tier.

In 25 of the 35 largest metros analyzed, there were more homes for sale this October than last October in all three price tiers. In 14 of those metros, the increase in number of homes for sale was in the double digits in all price tiers.

“Depending on their finances, it’s likely that individual buyers in the same market might be having completely different home buying experiences. Even as conditions improve for buyers overall, it remains a tough row to hoe for first-time buyers and lower-income buyers, especially compared to their more well-off contemporaries,” said Zillow Chief Economist Dr. Stan Humphries. “We expect more demand to come from the lower end of the market in coming years as millennials overtake Generation X as the largest home-buying demographic. As this happens, builders will be forced to build for these more entry-level buyers, and inventory at the bottom tier should improve, however slowly.”

Overall, median U.S. home values rose 6.4 percent from October 2013 and 0.4 percent from September, to a Zillow Home Value Index (ZHVI)[iii] $177,500. Both monthly and annual home value gains were well below the faster paces recorded earlier in the year. Rising inventory and slowing home-value growth are two signs that the housing market is beginning to level off across the nation.

As the market has cooled, buyers looking for less expensive homes did find some relief in the hottest metro areas, including San Diego, Los Angeles and the Bay Area. In San Francisco, the number of low-priced homes on the market rose by 39 percent, but there were fewer high-priced homes on the market. While inventory was still tight there in October, the homes that were available spread evenly across the price spectrum.

National rents were up in October from a year ago, up 3.5 percent to a Zillow Rent Index (ZRI)[iv] of $1,337. Month-over-month, national rents were flat from September.

About Zillow:
Zillow, Inc. (NASDAQ: Z) operates the largest home-related marketplaces on mobile and the Web, with a complementary portfolio of brands and products that help people find vital information about homes, and connect with the best local professionals. In addition, Zillow operates an industry-leading economics and analytics bureau led by Zillow’s Chief Economist Dr. Stan Humphries. Dr. Humphries and his team of economists and data analysts produce extensive housing data and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price Expectations Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home Value Index over the next five years. Zillow also sponsors the bi-annual Zillow Housing Confidence Index (ZHCI) which measures consumer confidence in local housing markets, both currently and over time. The Zillow, Inc. portfolio includes Zillow.com®, Zillow Mobile, Zillow Mortgages, Zillow Rentals, Zillow Digs®, Postlets®, Diverse Solutions®, Mortech®, HotPads™, StreetEasy® and Retsly™. The company is headquartered in Seattle.

SEATTLE, – Zillow Group, which houses a portfolio of the largest and most vibrant real estate and home-related brands on mobile and Web, today announced that northern Colorado-based Information and Real Estate Services, LLC, (IRES Multiple Listing Service) has signed a direct agreement allowing their 6,000 brokers the ability to send their listings to Zillow® and Trulia®. As a part of the new partnership, Zillow Group will also offer expanded metrics on IRES listings through ListTrac – making IRES the first MLS to offer its members expanded, customized reporting metrics about their listings on Zillow and Trulia through ListTrac.

“Metrics about listing performance are very important to all our MLS partners,” said Errol Samuelson, Zillow Group chief industry development officer. “The Zillow Data Dashboard is a great reporting option, but we also are pleased to help our partners by providing them access to other metrics with their partner of choice. It goes back to our goal of providing the most value we possibly can to the MLS and its members.”

“We are very excited to have Zillow statistics in ListTrac,” said Lauren Hansen, IRES chief executive officer. “This gives our brokers the ability to see listing activity from various websites in one report. ListTrac also provides a weekly report for sellers so they are kept up to date with online marketing efforts. With Zillow’s large consumer audience, we felt it was important to include their statistics in ListTrac and are pleased with the partnership.”

Zillow Group also offers expanded reporting options through Zillow Tech Connect: Reports, the third and newest pillar of the popular Zillow Tech Connect program. Through Zillow Tech Connect: Reports, MLSs and brokerages who send their listings directly to Zillow will have access to expanded reporting on their listings by their vendor of choice. Companies interested in joining Zillow Tech Connect: Reports can email techpartnerships@zillow.com for more information.

Zillow Group
Zillow Group (NASDAQ:Z) houses a portfolio of the largest real estate and home-related brands on the Web and mobile. The company’s brands focus on all stages of the home lifecycle: renting, buying, selling, financing and home improvement. Zillow Group is committed to empowering consumers with unparalleled data, inspiration and knowledge around homes, and connecting them with the right local professionals to help. The Zillow Group portfolio of consumer brands includes real estate and rental marketplaces Zillow®, Trulia®, StreetEasy® and HotPads®. In addition, Zillow Group works with tens of thousands of real estate agents, lenders and rental professionals, helping maximize business opportunities and connect to millions of consumers. The company operates a number of business brands for real estate, rental and mortgage professionals, including Postlets®, Mortech®, Diverse Solutions®, Market Leader® and Retsly™. The company is headquartered in Seattle.

Zillow, Postlets, Mortech, Diverse Solutions, StreetEasy, and HotPads are registered trademarks of Zillow, Inc. Retsly is a trademark of Zillow, Inc. Trulia is a registered trademark of Trulia, Inc.

About IRES
IRES was formed in 1996 as a regional Multiple Listing Service (MLS) in Colorado by five Boards and Associations of REALTORS®. IRES has a known reputation of providing an innovative and robust database for real estate professionals. Their office is centrally located in Loveland, Colorado. Additional information about IRES can be found on their company website, www.IRES-net.com and their public facing listing site, www.ColoProperty.com.

Indianapolis, IN – JPMorgan Chase & Co. is committing $1.5 million over two years to help the National Urban League launch their new Financial Savings Initiative, a program that will help black households build savings and meet their long-term financial goals. The announcement is being made at the National Urban League Annual Conference in Indianapolis.

Through tailored fintech tools and coaching, the initiative aims to enable more black households will be able to save for the future and achieve goals like homeownership, small business formation and expansion, and investing for retirement and college.

More than half of Americans struggle financially, experiencing high amounts of debt, irregular income and lack of savings. Research from JPMorgan Chase and Morning Consult found that 52 percent of Americans do not have enough money saved or on hand for a $500 emergency.

“Closing the racial wealth gap is a key objective of the National Urban League, and we’re proud to partner with JPMorgan Chase & Co. on achieving that goal,” National Urban League President and CEO Marc H. Morial said. “Through our network of 90 affiliates in 36 states and the District of Columbia, we can reach the people most in need of these financial tools and fulfill our mission of empowering communities and changing lives.”

As part of the initiative, the National Urban League will select 10 Urban League affiliates from around the country to integrate financial technology tools into their financial coaching programs.

The program will include tools that are being identified, tested and scaled by JPMorgan Chase as part of the firm’s $125 million, five-year investment in financial health and specifically, through the Financial Solutions Lab. Managed by the Financial Health Network in collaboration with JPMorgan Chase, the Financial Solutions Lab supports promising fintech innovations that can help people in the U.S. increase savings, improve credit and build assets. Financial Solutions Lab innovations have led to more than $1 billion in savings for U.S. residents to date.

“Financial health is an important element in building strong and resilient households, communities and economies,” said Sekou Kaalund, Head of Advancing Black Pathways for JPMorgan Chase. “Too many black Americans lack access to the tools and coaching they need to save for the future. With initiatives like this one, more people can share in the rewards of a growing economy.”

Over the last five years, JPMorgan Chase committed over $100 million to 250 nonprofit organizations and research institutions across the world, helping 7 million people improve their financial health and save more than $1 billion.

About the National Urban League
The National Urban League is a historic civil rights organization dedicated to economic empowerment in order to elevate the standard of living in historically underserved urban communities. The National Urban League spearheads the efforts of its 90 local affiliates through the development of programs, public policy research and advocacy, providing direct services that impact and improve the lives of more than 2 million people annually nationwide. Visit www.nul.org and follow us on Twitter and Instagram: @NatUrbanLeague.

About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.7 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

Many homeowners who saw an appreciation of home values in the last quarter have began improvements to their properties. The increase in home values, increases their leverage to borrow and spend on home improvement.

MORGANTOWN, W.Va., — ListHub, the nation’s leading listing syndicator and centralized intelligence platform for the real estate industry, today announces a new relationship with the National Association of REALTORS® (NAR) to guide Realtors® in maximizing their opportunities in the global real estate marketplace. The agreement provides real estate professionals with best-in-class international listing distribution and global education as well as discounts for Realtors® to leverage worldwide advertising exposure available through ListHub Global.

“The prevalence of international investment in the United States presents a tremendous opportunity for Realtors® to expand their market and reach international buyers and investors, if they are prepared to do so,” said Steve Brown, 2014 president of NAR. “This arrangement offers the education and tools to provide global real estate service, as well as an economic advantage for Realtors® to reach the international marketplace through ListHub Global.”

The agreement provides discounts for NAR’s Certified International Property Specialist (CIPS) curriculum, a series of global real estate courses that provide the knowledge, research, network and tools to help Realtors® globalize their business and acquire international clients, for ListHub Global customers. CIPS-certified Realtors® have access to the CIPS Referral Network, comprised of 2,300 elite agents in 45 countries worldwide.

The agreement also provides CIPS designees with a 10 percent discount for the ListHub Global service. The ListHub Global network offers brokers the opportunity to increase global exposure of their listings within a controlled platform, with ListHub’s signature streamlined management, comprehensive data protections and unmatched performance metrics. With the merger of ListHub Global network partners EdenHome and ListGlobally, the ListHub Global network includes more than 70 international property publishers in over 40 countries, reaching 60 million international customers.

Helping Realtors® Become Global Experts

The CIPS program helps Realtors® develop the specialized expertise required in an international transaction, from currency issues and financing to visa and tax laws. The exclusive discounts available through the arrangement with ListHub Global empower Realtors® to invest in the combined resources for an unparalleled market advantage when working with international buyers.

The international market is at peak levels, reaching a record $92.2 billion in sales between April 2013 to March 2014 according to NAR’s 2014 Profile of International Home Buying Activity, released this month. Sales to international clients have jumped 35 percent from the previous period’s level of $68.2 billion.

The report also highlights a substantial increase in sales to buyers from China, increasing from $12.8 billion in the prior period to $22 billion in the 12 months ending in March 2014, and now accounting for nearly 25 percent of total sales to international buyers. Buyers from China generally purchased in higher-priced markets, and 76 percent of reported transactions were all-cash purchases. Appreciation of the Chinese yuan and affordable property contributed to the appeal of the U.S market for many buyers from China, according to the report.

The ListHub Global network includes the leading real estate search website in China, SouFun, which reports more than three million unique visitors each day. Among the site’s 12 million SouFun members, 25 percent have plans to invest in properties outside China within the next three years.

“Buyers from China are predicted to continue to grow in the coming years, yet China’s rigorous Internet regulations limit opportunities to advertise listings in mainland China without working directly with China’s property portals,” said Celeste Starchild, vice president and general manager of ListHub. “ListHub Global allows Realtors® to reach buyers in China within the same secure platform they use for national advertising, in a seamless experience that ensures the data is Multiple Listing Service (MLS)-accurate across the global network of real estate search websites.”

ListHub will host a free, 30 minute webinar July 24 at 4 p.m. EDT. Global Perspectives – Tips for Expanding Your Global Reach will be hosted by ListHub Global Team Leader Aldana Gentinetta and NAR’s Director of Global Marketing and Business Development Katie Stouffs Grimes. The webinar will highlight the latest insights from NAR’s international report and tips for reaching global buyers.

About Move, Inc. and realtor.com®
Move, Inc. (NASDAQ: MOVE), a leading provider of online real estate services, operates realtor.com®, which connects people to the essential, accurate information needed to identify their perfect home and to the REALTORS® whose expertise guides consumers through buying and selling. As the official website for the National Association of REALTORS®, realtor.com® empowers consumers to make smart home buying, selling and renting decisions by leveraging its direct, real-time connections with more than 800 multiple listing services (MLS) via all types of computers, tablets and smart telephones. Realtor.com® is where home happens. Move’s network of websites provides consumers a wealth of innovative tools and accurate information including Doorsteps®, HomeInsightSM, SocialBiosSM, Moving.com™, SeniorHousingNetSM, homefairSM and Relocation.com. Move supports real estate agents and brokerages by providing many services to grow their businesses, including ListHub™, the nation’s leading listing syndicator and centralized intelligence platform for the real estate industry; TigerLead®; Top Producer® Systems; and FiveStreetSM; as well as many free services. Move is based in the heart of the Silicon Valley — San Jose, CA.

CHARLOTTE, N.C., June 3, 2024 — Lowe’s is the first home improvement retailer to offer customers an in-store, Apple Vision Pro-powered experience, with a pilot set to launch in three test markets this month. Customers can try Lowe’s Style Studio™ for Apple Vision Pro firsthand, allowing them to visualize and design their dream kitchens using spatial computing and the help of a Lowe’s associate.

Launched in February, Lowe’s Style Studio™ is a breakthrough experience—purpose-built for Apple Vision Pro—that immerses users in a high-fidelity 3D kitchen environment, and enables them to explore, imagine and bring their unique project to life in minutes. Using Apple Vision Pro’s intuitive input system, which is controlled by a user’s eyes and hands, Lowe’s Style Studio™ reimagines the art of kitchen visualization, making it a more accessible and confidence-building experience than ever before. Now, by bringing the experience to stores, Lowe’s offers customers the opportunity to use Apple Vision Pro in collaboration with a dedicated Lowe’s associate to design their dream kitchen.

“Lowe’s has a history of breaking new ground in our industry, and being the first home improvement retailer to offer an Apple Vision Pro experience in select stores is an exciting step in our omnichannel journey,” said Seemantini Godbole, Lowe’s executive vice president, chief digital and information officer. “We believe Apple Vision Pro can enhance in-store kitchen design experiences, empowering our customers to visualize their dream kitchens using advanced spatial computing technology.”

The in-store Lowe’s Style Studio™ experience centers on an immersive kitchen visualization session, where customers wear Apple Vision Pro and run the Lowe’s Style Studio app to explore preset styles curated by Lowe’s professional designers, and customize hundreds of real-world materials, fixtures, and appliances – all available at Lowes.com or in store – to fit their personal taste. A Lowe’s associate will guide customers through the process during their one-on-one appointment, immersing them in Lowe’s Style Studio™, and letting them explore a virtual playground of real-world products. With Lowe’s Style Studio™, customers can choose from nearly 80 billion design combinations, creating a kitchen inspiration that is uniquely their own. When they have found a winning theme, customers can save their style selections, easily email, text or AirDrop them as a beautiful PDF to friends, family, a designer or contractor, and ultimately shop them in store, online, or in the Lowe’s mobile app.

The pilot will launch in three select stores, kicking off in Lowe’s hometown at its Central Charlotte, N.C. store, from June 8 through June 12. Later in the month, from June 22 through June 25, the experience will be available at Lowe’s stores in North Bergen, N.J. and Sunnyvale, CA. Customers in these pilot markets will be able to access an online booking tool to select the time and date that works best for them, and Lowe’s will also accommodate a limited number of walk-ins.

Lowe’s Style Studio™ is the latest development in a portfolio of innovations from Lowe’s Innovation Labs, a team focused on imagining, exploring, and accelerating the future of home improvement through emerging technologies. The organization has developed features like Measure Your Space®, a room measurement tool that uses ARKit and the LiDAR Scanner on iPhone, experiences like Lowe’s Product Expert™, a custom GPT that delivers home improvement product recommendations via generative AI, and the home improvement retail industry’s first interactive store digital twin.

To learn more about Lowe’s Style Studio in-store availability and to select an appointment, please visit: https://www.lowesinnovationlabs.com/projects/lss-in-store

For more information about Lowe’s, visit Lowes.com.

About Lowe’s
Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 16 million customer transactions a week in the United States. With total fiscal year 2023 sales of more than $86 billion, Lowe’s operates over 1,700 home improvement stores and employs approximately 300,000 associates. Based in Mooresville, N.C., Lowe’s supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts. For more information, visit Lowes.com.

MOORESVILLE, N.C – This holiday season, Lowe’s Innovation Labs will introduce two autonomous retail service robots in an Orchard Supply Hardware store in midtown San Jose, California to study how robotics technology can benefit customers and employees.

Called OSHbot, the robots will assist customers to quickly navigate stores by directing them to specific products and providing real-time information about product promotions and inventory. In the coming months, OSHbot will also be able to communicate with customers in multiple languages and remotely connect with expert employees at other Orchard stores to answer specific project questions.

“Using science fiction prototyping, we explored solutions to improve customer experiences by helping customers quickly find the products and information they came in looking for,” said Kyle Nel, executive director of Lowe’s Innovation Labs. “As a result we developed autonomous retail service robot technology to be an intuitive tool customers can use to ask for help, in their preferred language, and expect a consistent experience.”

For store employees, OSHbot will provide an additional layer of support by helping customers with simple questions, enabling more time for them to focus on delivering project expertise. Applications designed to support employees also include real-time inventory management and connecting with employees in other locations to share know-how and answer customer questions.

The OSHbot incorporates scanning technology first developed for the Lowe’s Holoroom home improvement simulator. For example, a customer may bring in a spare part and scan the object using OSHbot’s 3D sensing camera. After scanning and identifying the object, OSHbot will provide product information to the customer and help guide them to its location on store shelves.

The OSHbot was developed through a partnership between Lowe’s Innovation Labs and Fellow Robots, a Silicon Valley technology company specializing in the design and development of autonomous service robots. The partnership was initiated through SU Labs, a Singularity University program that connects corporate innovation teams with startups and other organizations to explore exponentially accelerating technologies and create new sustainable business solutions.

“The last decade was one of rapid technological advancement and prototyping, especially in robotics,” said Marco Mascorro, chief executive officer of Fellow Robots. “With OSHbot, we’ve worked closely with Lowe’s Innovation Labs to take autonomous retail service robot technology out of the sandbox and into the consumer market – enhancing the in-store consumer experience and creating smarter shoppers.”

About Lowe’s
Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 100 home improvement company serving approximately 15 million customers a week in the United States, Canada and Mexico. With fiscal year 2013 sales of $53.4 billion, Lowe’s has more than 1,835 home improvement and hardware stores and 260,000 employees. Founded in 1946 and based in Mooresville, N.C., Lowe’s supports the communities it serves through programs that focus on K-12 public education and community improvement projects. For more information, visit Lowes.com.

About Orchard Supply Hardware
Orchard Supply Hardware operates neighborhood hardware and garden stores focused on paint, repair and the backyard. Based in San Jose, California, Orchard was originally founded as a purchasing cooperative in 1931. Today, it operates 71 stores in California and two stores in Oregon. The stores average approximately 36,000 square feet of interior selling space and 8,000 square feet of exterior nursery and garden space. For more information, visit http://osh.com.

About SU Labs
SU Labs, a division of Singularity University, is an open innovation campus where large organizations, startups and field impact partners come to use rapidly accelerating technologies to create new sustainable business solutions and tackle the world’s biggest challenges. Singularity University is headquartered at NASA Research Park in Silicon Valley and offers education programs and innovative partnerships to help individuals, businesses, institutions, investors, NGOs and governments understand and use technology to positively impact billions of people around the world.

About Fellow Robots
Fellow Robots, located in Silicon Valley, is at the forefront of reimagining retail using exponential technologies. Founded in 2012, Fellow Robots presented its first robot concept at the Consumer Electronics Show in 2013. With a diverse team of experts experienced in robotics, software, design and manufacturing, Fellow Robots works closely with its partners to enhance the consumer retail experience through robotics.

Mack Real Estate Group, Mack Urban and AECOM Capital announced today the formation of a new investment partnership with Capri Capital Partners, LLC (“Capri”) for development of the $144-million multifamily mixed-use project at 1230 South Olive Street and 1231 South Hill Street in the South Park district of Downtown Los Angeles. Construction of the two-building property, which will comprise 362 residential rental units and 4,000 square feet of retail space, began on March 2.

“This is an incredibly exciting development in a neighborhood full of opportunity,” said Richard Mack, CEO of Mack Real Estate Group, the capital partner of Mack Urban. “We’re pleased to be able to announce our new partnership with Capri at the same time we kick off construction.” The site is one of several in Downtown Los Angeles that Mack Real Estate Group, Mack Urban, and AECOM Capital acquired for approximately $80 million in October 2013.

“We have spent 15 months on the strategic design and planning of this project, and we’re happy to get it under way because we believe it is well tailored to local demand,” said Mack Urban Founding Principal and CEO Paul Keller. “The rental units have been thoughtfully designed to appeal to a young, urban, professional demographic. Units will be intentionally smaller to keep price points more affordable, but the building will be highly amenitized in a way that conforms to a modern, urban lifestyle.”

“This modern apartment project will be a welcome addition to Downtown LA’s South Park neighborhood, and promises to help meet the demand for housing while injecting new life into a formerly underutilized site,” said Ken Lombard, Vice Chairman, Investments and Partner for Capri. “We are excited to be investing in one of the most active residential markets in Los Angeles, and to play a role in the changing landscape of this diverse community.”

A joint venture between Tishman Construction, an AECOM company, and Morley Builders will serve as the general contractor for the project, which was designed by architects Togawa Smith Martin, Inc., the residential arm of AC Martin. Construction is scheduled for completion in the first quarter of 2017, with pre-leasing commencing in the fourth quarter of 2016.

South Park has become one of the most desirable neighborhoods in Downtown, with extraordinary retail and entertainment amenities that include L.A. Live, Staples Center, numerous local restaurants, popular bars, independent art galleries, a Ralph’s supermarket, and a Whole Foods slated to open in November 2015.

The new project includes two buildings with a combined total of 362 residential units, all rentals, on two adjacent sites separated by an alley and bordered by Olive, Pico and Hill streets. The two structures, located at 1230 South Olive St. and 1231 South Hill St., will provide 4,000 square feet of ground-level retail space, slated to feature a local restaurant catered to the community. The plans include a public park with outdoor seating, an improved paseo and porte cochere, as well as a bridge that connects the two buildings on the second floor podium level. “We are eagerly anticipating the completion of this development, which is designed to help ‘put the park back in South Park,’ and create a pedestrian-friendly neighborhood for residents who want to be at the heart of the high energy Downtown lifestyle,” said AECOM Capital Chief Executive John Livingston.

The two seven-story buildings will feature five levels of wood construction framed above two levels of concrete podium. Two levels of subterranean parking will accommodate 438 cars, and will cater to ecofriendly residents with 40 charging stations for electric vehicles. Also in tune with the times is a large bicycle room and repair shop that can house up to 400 bikes.

Abundant lifestyle amenities will include a pool deck complete with a spa, cabanas, lounge areas and BBQs, a large gym with outdoor cycling, yoga studio, community rooms with two kitchens, an outdoor roof deck, and grand lobbies with concierge service and a mailroom that provides cold storage for food deliveries. For residents with pets, there will be two dog runs and a full-service dog-wash station.

The mix of residential units, averaging 760 square feet, will include 75 percent studio and one-bedroom apartments, with six three-bedroom units and 58 two-bedroom apartments. Twenty-two two-story townhomes at street level on Hill and Olive Streets will provide an urban escape for residents with a proclivity for a spacious downtown lifestyle. All units offer plenty of room for storage, and will feature modern interiors, including stainless steel appliances and in-unit washers and dryers. The design fully complies with and sets a new bar for Downtown Los Angeles guidelines that call for abundant green space, wide sidewalks and pedestrian walkways.

Mack Urban is the West Coast real estate investment and development business of New York’s Mack Real Estate Group. Mack Urban, which was founded and previously known as Urban Partners, focuses on multifamily residential urban infill projects in major West Coast markets such as Los Angeles, Seattle, and Portland. AECOM Capital is the investment fund of Los Angeles-based AECOM. The development partnership now includes Capri Capital Partners, an institutional real estate investment advisory firm that offers a broad spectrum of real estate equity and debt products.

The pace of monumental-scale infrastructure construction projects is on the rise worldwide, with current annual global infrastructure demand pegged at $4 trillion, according to the World Economic Forum.1 Occurring in both developed and emerging markets, these megaprojects have become multinational undertakings whose success often hinges on numerous companies and governments operating in concert, frequently in the face of political, legal and cultural divides among the participants.

These challenges pose risks. But because the need (to build new or replace rapidly aging infrastructure) and upside (in terms of potential profitability and benefits) are substantial, “it is imperative,” says Brookings Institute Vice President Bruce Katz, “that more U.S. metros and firms (particularly middle market firms) expand their presence abroad.”2

According to Mr. Katz, more than 83% of global gross domestic product (GDP) is expected to be generated outside the U.S. over the next five years. Since so much of GDP rides on the quality and availability of robust infrastructure (road, freight rail, seaports, air hubs, etc.) – so that companies can create and deliver products and services when and where they are needed – this trend portends opportunities for the global construction industry in terms of refurbishing old, and building new, infrastructure.

Who will benefit most? According to author Dan McNichol, the advantage in the global market will principally lie with “firms with the keenest understanding of the local market in which they operate…[because] risks on the legal, compliance and tax fronts are traps that ensnare the most sophisticated contractors.”3 In projects of the scale being discussed, multinational firms may well find themselves facing litigation (and/or the risk of litigation) challenges across multiple jurisdictions.

Impact of Urbanization and Aging Infrastructure

A sizable percentage of current and projected infrastructure spending is being driven by rapid urbanization occurring in many markets, particularly emerging markets. One expert projects that by 2050 there will be 2 billion more people living in cities globally than there are today.4 This kind of growth puts heavy stress on existing infrastructure and paves the way for the construction of supporting infrastructure of all forms – public transportation systems, sewage systems, etc.

Decaying infrastructure is also a major driver of megaproject spending. In the U.S. alone, the McKinsey Global Institute estimates that annual infrastructure spending will need to increase to $150 billion more than current levels from now until 2020 in order to meet the country’s needs.5

San Francisco-Oakland Bay Bridge

One recent example of the kind of global, mega-infrastructure project currently underway in many locations around the world was the replacement of the San Francisco—Oakland Bay Bridge. The Bay Bridge, which originally opened to traffic on Nov. 12, 1936, was damaged by an earthquake in 1989 and needed to be rebuilt.

The $7 billion project involved a level of multinational cooperation seldom seen before. Fabrication of the main structural steel for the bridge was outsourced to China. South Korea handled the manufacturing of seismic bearings and temporary detour structures. Japan forged the world’s first double-cable saddle, which sits atop a 525-foot tower built by the Chinese. England produced the main cables’ bands. And the U.S. handled about 80% of the manufacturing.

Given how difficult it would be to correct problems later, once the various pieces of the bridge had been manufactured and shipped from such far-flung parts of the globe, production mistakes were not an option.

As Ken Terpstra, overall project manager for the California Highway Department, explained: “We sent more than 60 experts from our staff to Shanghai in an unprecedented program, in order to oversee our contractor’s work on the main structural steel fabrication, […] We had to ensure that the metals, welds and fabrication were delivered to our exacting standards here in California…[because] correcting problems on this side of the Pacific was not an option.”6

The rebuilding of the Bay Bridge was a success – it reopened on Sept. 2, 2013. And it’s not hard to see how important the role of risk management plays in such complex projects. Robin Johnson, AIG’s head of Broker and Client Management in Asia, notes: “[When] there is fabrication in multiple countries, if a client fails to buy the right programs, they face the chance that the risks, won’t be covered, that there will be gaps in coverage. Before globalization of these megaprojects, that simply wasn’t the case.”7

As long as sufficient financing and industry bandwidth can be found, the globalization of mega-infrastructure projects will likely continue. Managing the projects themselves, and the risks associated with them, will remain a complex but rewarding endeavor—with the potential to deliver not only solid profits to the construction firms and investors involved, but also renewed vigor to the citizens and economies that these projects ultimately serve.

TAYLOR, Mich. — Masco Corporation (NYSE: MAS) today announced its Board of Directors has approved the strategic initiatives recommended by management under the leadership of Keith Allman, its President and Chief Executive Officer.

The strategic initiatives, which are designed to drive shareholder value over the mid- to long-term, are comprised of:
• The spin-off of 100 percent of Masco’s Installation and Other Services businesses (“Services Business”) into an independent, publicly-traded company through a tax-free stock distribution to Masco’s shareholders
• The implementation of a share repurchase program for an aggregate of 50 million shares of Masco’s common stock
• The reduction of corporate expense and simplification of Masco’s organizational structure, resulting in an estimated charge of approximately $30 million over the next several quarters with anticipated company-wide annual savings of $35-40 million

Mr. Allman stated, “Today’s transformative actions reflect our continued commitment to enhance shareholder value through the active management of our portfolio, effective capital allocation, cost control, and organizational focus. As separate companies, both Masco and the Services Business will have greater flexibility to focus on and pursue their respective growth strategies. In addition, the actions we are taking at the corporate office are intended to improve our cost position and drive value across our enterprise. Masco remains committed to creating shareholder value by profitably growing in branded building products.”

Mr. Allman continued, “Over the past several years, Masco has strengthened the Services Business by reducing fixed costs and implementing lean processes to achieve supply chain savings. As such, we believe the Services Business is now properly positioned to operate as a separate company. The Services Business will focus on growth by capitalizing on North American new home construction as well as further expanding into commercial and retrofit categories. Masco shareholders stand to benefit from the additional value created by the spin-off.”

Masco is pleased to announce the Service Business management team:
• Jerry Volas, currently Masco Group President, will become the Chief Executive Officer
• Robert Buck, currently Masco Contractor Services’ President, will become the President and Chief Operating Officer
• John Peterson, currently Masco Contractor Services’ Chief Financial Officer, will become the Chief Financial Officer
All three have extensive industry experience and have been instrumental in positioning the Services Business for growth and profitability.

Masco also announced today that its Board has approved the repurchase of an aggregate of 50 million shares of the Company’s common stock, which represents approximately 14 percent of Masco’s currently outstanding shares. Repurchases are expected to be made over a multi-year period beginning in 2014. The repurchases will be funded through cash on hand and operating cash flow. As of June 30, 2014, cash on hand was $1.4 billion.

Mr. Allman added, “This authorization reflects the Board’s continued confidence in Masco’s future performance, our ability to generate long-term cash flow, the strength of Masco’s liquidity, and our ongoing commitment to create shareholder value.”

The Company will hold an investor day on February 9, 2015 in New York at which time it will discuss its outlook for 2015 and the long-term growth strategy for each of its businesses.

Masco
Following the separation, Masco will continue to be listed on the NYSE under “MAS,” and will remain headquartered in Taylor, Michigan. Masco will continue to build on its leading positions in branded building products.

New Services Business
Masco’s Installation and Other Services segment, which includes Masco Contractor Services, the leading installer of insulation in the U.S., and Service Partners, a leading distributor of residential insulation products and related accessories in the U.S., reported revenue of $1.4 billion in 2013. This segment is comprised of 190 branch locations and 70 distribution centers and its revenue has achieved a compounded annual growth rate of nearly 11 percent since 2010. The Services Business will be headquartered in Central Florida.

Next Steps
The proposed separation is subject to customary conditions, including receipt of any required regulatory approvals, an opinion of counsel regarding the tax-free nature of the separation, the effectiveness of a Form 10 filing with the Securities and Exchange Commission, and final approval by Masco’s Board of Directors. Masco expects to complete the separation by mid- 2015.

About Masco
Headquartered in Taylor, Michigan, Masco Corporation is one of the world’s leading manufacturers of branded building products, as well as a leading provider of services that include the installation of insulation and other building products.

Supplemental material, including a presentation in PDF format, is available on the Company’s website at www.masco.com.

– See more at: http://masco.com/news/news-stream/masco-announces-strategic-initiatives-to-drive-shareholder-value/#sthash.1vo07jMy.dpuf

MIAMI, April 1, 2021 /PRNewswire/ — Real estate pioneer and impact entrepreneur, Tony Cho, announces the launch of the Future of Cities platform – a mission-driven organization and consortium dedicated to transforming communities worldwide through sustainable development. By adopting environmental, social, and governance (ESG) strategies and propagating best practices from multi-disciplinary partners, Future of Cities will drive outsized returns and a positive impact across diverse communities, improving the quality of urban living. The platform aims to impact more than one billion people, helping organizations in the U.S. and around the world reimagine building and development through Regenerative Placemaking.

“As the challenges cities face multiply and become more evident in the face of the global pandemic, the Future of Cities will reimagine how we live, work, play and learn,” said Tony Cho, CEO and Founder of Future of Cities. “With various societal inequalities further exposed in 2020, the idea was born to encourage those who can influence cities to make a commitment to our collective well-being. If we want to create solutions for affordable housing and climate change, we need unprecedented cross-sector collaboration at scale.”

Future of Cities will serve as part real estate investment vehicle, part venture capital ecosystem and part think tank to source and scale solutions:

Real Estate Investment and Development: Reimagining the built environment to be community-centric, eco-friendly, pandemic- and climate-resistant, Future of Cities will leverage Opportunity Zones and Public Private Partnerships to activate capital and develop ‘living laboratories’ of safe, healthy, thriving cities of the future.
Public Advocacy: Connecting thinkers and doers, Future of Cities will promote open source thought leadership and advocate for smart, inclusive policy agendas to influence holistic city design.
Venture Ecosystem: Investing in small businesses and technologies, such as smart city technology, PropTech, HealthTech and clean technologies, Future of Cities will incubate, accelerate and aggregate sustainable development and maximize access to leaders supporting adoption of regenerative solutions.
Future of Cities is a globally distributed network of innovators and experts with a management team that has already collectively stewarded over $2 billion in development projects across more than 20 cities around the world. Notable Future of Cities strategic partner organizations include the Chopra Foundation by Deepak Chopra, MIT’s Global CoCreation Lab, and the Buckminster Fuller Institute. These organizations are joined by a host of global advisors, subject matter experts, technology partners, investors, policymakers, local municipalities and governments, and leaders of nonprofit organizations, businesses and corporations that have committed to adopting ESG strategies. A full list of Future of Cities advisors and partners can be found here.

Cho will continue to serve as the chairman of Metro 1 – a forward-thinking full service real estate investment, brokerage, management and development firm focused on shaping neighborhoods and developing sustainable cities. As the founder of the Magic City Innovation District Little Haiti – an 18-acre large-scale regenerative mixed-use project – Cho is a long-standing advocate for the community and pioneer of emerging neighborhoods including the Wynwood Arts District, Little Haiti and Little River.

About Future of Cities

As the challenges cities face mount, the Future of Cities was created to reimagine how we live, work, play and learn. Future of Cities is a mission-driven consortium invested in transforming the built environment by adopting environmental, social and governance (ESG) strategies to improve the quality of urban living across the globe. With a goal to impact 1 billion people through a new sustainable urban design logic and the co-creation of regenerative cities of the future, Future of Cities is a multi-pronged platform that includes: real estate investment and development, a venture ecosystem and public advocacy. The organization is comprised of global advisors, subject matter experts, technology partners, investors, policymakers, local municipalities and governments, leaders of nonprofit organizations, businesses and corporations that have committed to adopting strategies and a regenerative development framework that will accelerate the transition to a more sustainable urban future.

To learn more about the Future of Cities, visit FOCities.com.

RE/MAX® proudly announces another remarkable achievement, as thousands of its agents have been recognized as “America’s Best” on the RealTrends + Tom Ferry America’s Best Real Estate Professionals List. An impressive 4,117 RE/MAX professionals qualified for the honor, which is based on 2022 productivity. RE/MAX agents also stood out in the recently released RealTrends + Tom Ferry The Thousand ranking – an elite subset of America’s Best.rnrnOf the nearly 28,000 agents who applied for recognition as an “America’s Best,” almost one out of every seven is affiliated with RE/MAX, underscoring the network’s undeniable impact on the industry.rnrnAmerica’s Best grouped teams into four categories based on number of team members. When all teams qualifying by transaction sides are combined by brand, RE/MAX teams have a higher sides-per-agent average among brands qualifying at least 100 teams for transaction sides. rnrnThe 1,347 qualifying RE/MAX teams of all sizes averaged 21.6 sides per agent, compared to the average for competitor teams of 13.3 sides. RE/MAX teams also had the highest sides-per-agent average in three of the four team categories: 28.6 for Small, 19.1 for Medium, and 16.7 for Large.rnrn”We are incredibly proud of these RE/MAX agents for being recognized as the best” said Nick Bailey, RE/MAX, LLC President and CEO. “This honor is a testament to their unwavering commitment to excellence and their dedication to providing exceptional service. It underscores our brand’s ongoing position as the best option for productive professionals.”rnrnKnown as a home of top-producers, RE/MAX equips agents to thrive in a competitive marketplace by offering comprehensive support and resources. The network offers industry-leading educational programs through RE/MAX University, cutting-edge technology platforms such as the recently launched MAX/Tech powered by kvCORE, and a global referral network of professionals with a presence in more than 110 countries and territories.rnrnRealTrends + Tom Ferry’s America’s Best Real Estate Professionals is the industry’s largest ranking of agents specifically based on homes sold. Eligibility for the America’s Best ranking required individual agents to close at least 40 transaction sides or $16 million in sales volume in 2022, while teams had to close at least 60 transaction sides or $24 million in sales volume.rnrn# # #rnAs one of the leading global real estate franchisors, RE/MAX, LLC is a subsidiary of RE/MAX Holdings (NYSE: RMAX) with more than 140,000 agents in over 9,000 offices and a presence in more than 110 countries and territories. Nobody in the world sells more real estate than RE/MAX, as measured by residential transaction sides. RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. RE/MAX agents have lived, worked and served in their local communities for decades, raising millions of dollars every year for Children’s Miracle Network Hospitals® and other charities. To learn more about RE/MAX, to search home listings or find an agent in your community, please visit www.remax.com. For the latest news about RE/MAX, please visit news.remax.com.

MADISON, N.J. —
Century 21 Real Estate LLC announced today that Kyle Seyboth, the nation’s *number one real estate agent, and the 12-member Seyboth Team have chosen to affiliate with Century 21 Real Estate and will now operate as CENTURY 21 The Seyboth Team brokerage. This growth news shows that the global franchisor’s efforts to transform the industry from transactional to experiential and win by perfecting the real estate experience, is **gaining traction with the very top industry professionals and companies. Homebuyer and seller feedback, too, are reaffirming this vision as in the last six months, clients have, through RealSatisfied’s QSS scores, given the C21® System’s relentless sales professionals quality service scores of 97% in overall satisfaction and a recommendation rating of 98%. Century 21 Real Estate sits among the top consumer brands whose focus on a customer-centric mindset is building a great reputation and attracting top talent to its industry-leading number of 11,600 offices worldwide.

“Real estate is a relationship business and our brand is only as successful as our people,” said Michael Miedler, president and chief executive officer, Century 21 Real Estate LLC. “Attracting an industry leader like Kyle and his team affirms that our push to always elevate and give 121% to our valued CENTURY broker franchise network and affiliated agents is working.”

“What sold me on the CENTURY 21 brand is the senior management team, and the understanding and entrepreneurial mindset they have to this business, which starts at the top with Mike, who is all about having his team deliver the best technology, learning and marketing programs to my affiliated agents so they in turn can go above and beyond in helping their clients achieve the best outcomes possible,” explained Seyboth, who, unsurprisingly, was courted by most real estate brands and franchises. “We have worked hard to develop strong relationships and deep roots in our communities and this new affiliation ensures that our homebuyer, homeseller and investor friends will be able to continue to trust and rely on us to assist with the best real estate outcomes possible.”

Seyboth combines his knowledge of the Rhode Island and southern Massachusetts markets with his financial and investment experience to better serve the personalized needs of his clients. Seyboth and his team also understand the importance of leveraging the latest technologies, market research and business strategies to deliver extraordinary experiences. Their exceptional efforts have resulted in their clients referring them to family and friends time and time again.

In addition to achieving the number one spot on The Thousand list, Kyle’s extensive track record includes annual stats of over $140 million in sales, more than 500 units sold, and recognition in The Wall Street Journal as one of the top-10 real estate agents in the country. In his personal life, Kyle is a proud father of two beautiful girls, and he enjoys coaching their sports teams during the week and on the weekends.

To learn more about the CENTURY 21 value proposition, or to join the ranks of the relentless, please go to www.century21.com/about-us/contact.

*According to The 2020 RealTrends and Tom Ferry The Thousand ranking July 6, 2020.

** https://www.realogy.com/news/2020/05/28/century-21-real-estate-inks-10-new-companies-and-38-renewals-in-first-four-months-of-2020

About Century 21 Real Estate LLC
The approximately 139,000 independent sales professionals in approximately 11,600 offices spanning 83 countries and territories in the CENTURY 21® System live their mission every day: to defy mediocrity and deliver extraordinary experiences. By consistently chasing excellence, giving 121% and always elevating, the CENTURY 21 brand is helping its affiliated brokers/agents to be the first choice for real estate consumers and industry professionals worldwide. Century 21 Real Estate has numerous websites to help answer specific consumer needs. They are century21.com, century21.com/global, century21.com/commercial,
century21.com/finehomes and century21.com/espanol.

Century 21 Real Estate LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services.

WASHINGTON – U.S. Treasury Secretary Jacob J. Lew today announced Obama Administration efforts to continue helping struggling homeowners avoid foreclosure, increase access to affordable rental options and expand access to credit for borrowers. In remarks at the Making Home Affordable (MHA) Fifth Anniversary Summit, Secretary Lew specifically unveiled a new financing partnership between the Treasury Department and the Department of Housing and Urban Development (HUD) aimed at supporting the Federal Housing Administration’s (FHA) multifamily mortgage risk-sharing program. In addition, the Secretary announced an extension of the MHA program for at least one year and a new effort to help jumpstart the Private Label Securities (PLS) market. Before speaking at the Summit, Secretary Lew met with homeowners and housing counselors at the Greater Washington Urban League, a non-profit organization that provides direct services and advocacy to more than 65,000 individuals each year.

With the new Treasury-HUD partnership, the Federal Financing Bank (FFB) will use its authority to finance FHA-insured mortgages that support the construction and preservation of rental housing. The first partnership – announced today – with the New York City Housing Development Corporation will help restore affordable rental housing damaged by Superstorm Sandy in Far Rockaway, Queens.

“Families and neighborhoods across the country continue to recover from the financial crisis, and we must not lose our resolve to help them, even as the economy continues to expand,” said Secretary Lew. “From day one, the Obama Administration has worked to provide relief to struggling homeowners and stabilize hard-hit communities. Today’s announcement continues that effort. These new actions will help provide more affordable options for renters, assist homeowners facing foreclosure or juggling bills to pay their mortgages and expand access to credit for prospective borrowers.”

“Families have been especially hard hit during the rental housing crisis. Demand is soaring and prices are climbing,” said Carol Galante, Federal Housing Administration Commissioner and Assistant Secretary for Housing, U.S. Department of Housing and Urban Development. “To help the many hard working families who cannot find affordable rental housing, we are partnering with the Treasury Department, to broaden our efforts to create and preserve safe, decent and affordable rental housing by allowing more Housing Finance Agencies access to the capital they need to build or maintain affordable multifamily apartment buildings.”

In addition to the new Treasury-HUD partnership, the Secretary announced today that the Administration would be extending MHA at least until December 31, 2016, to allow the Administration to continue assisting homeowners facing foreclosure and those whose homes are underwater. To date, the MHA program has provided relief to homeowners across the country, including more than 1.3 million homeowners who have permanently modified their mortgages, saving a median of $540 a month in mortgage payments. The Treasury Department’s housing assistance programs have also become a model for the broader housing sector, setting a new standard for the mortgage industry on how to restructure loans and help homeowners. More than 5 million homeowners have been helped by private lenders who have, in many cases, used a similar framework to the one created by MHA’s Home Affordable Modification Program.

Finally, in an effort to help expand access to credit for qualified prospective homeowners, Secretary Lew announced a new Treasury-led effort to catalyze the PLS market.

Prior to the housing crisis, private label securities provided access to credit for many qualified Americans who did not meet Government Sponsored Enterprises (GSEs) and FHA eligibility requirements. Securitization allowed the risks associated with extending mortgage credit to be allocated among investors with different appetites for taking credit and interest rate risk.

Since the crisis, Treasury officials have been working with regulators to put in place reforms that address the flaws in the securitization and lending practices that played a role in the financial crisis. Nevertheless, many of the largest investors have not returned to the market, resulting in very little issuance and few mortgage financing options for borrowers aside from government-supported channels. To help determine what more can be done to encourage a well-functioning PLS market, the Treasury Department today is publishing a Request for Comment in the Federal Register and plans to host a series of upcoming meetings with investors and securitizers to further explore ways to increase private lending.

The New Treasury-HUD Partnership
Under the new partnership with HUD, the FFB will provide financing for multifamily loans insured under FHA’s risk sharing programs. The new partnership between the Treasury Department and HUD will help create and preserve more decent rental housing by significantly reducing the interest rate for affordable multi-family apartment buildings compared to the cost of tax-exempt bonds under current market conditions.

The New York City Housing Development Corporation (NYC-HDC) has worked extensively with HUD/FHA Risk Sharing, Treasury’s New Issue Bond Program, tax-exempt bonds, and other multifamily housing financing structures. HUD through FHA would provide mortgage insurance pursuant to a risk sharing agreement with NYC-HDC and the FFB would fund NYC-HDC mortgage loans for multifamily projects.

The FFB is authorized to fund any obligation that is fully guaranteed by another Federal agency. The Risk Sharing program meets this requirement because FFB would purchase certificates or securities evidencing undivided beneficial ownership interests in 100 percent HUD/FHA-insured mortgages and HUD/FHA would cover 100% of the outstanding principal balance plus 100% of accrued interest in the event of a mortgage claim.

This is courtesy of www.treasury.gov

WASHINGTON – U.S. Housing and Urban Development Secretary Shaun Donovan and U.S. Department of Transportation Secretary Anthony Foxx, today unveiled the Location Affordability Portal (LAP), a cost calculation tool that allows users to estimate housing and transportation costs for neighborhoods across the country. The LAP will help consumers and communities better understand the combined costs of housing and transportation associated with living in a specific region, street, or neighborhood and make better-informed decisions about where to live, work, and invest.

“Many consumers make the mistake of thinking they can afford to live in a certain neighborhood or region just because they can afford the rent or mortgage payment. Housing affordability encompasses much more than that,” said HUD Secretary Donovan. “The combined cost of housing and transportation consumes close to half of a working family’s monthly budget, and the LAP will help to better inform consumers, help them save money, and provide them with a broader perspective of their housing and transportation options.”

“Transportation and housing are usually the two biggest expenses a family faces,” said U.S. Transportation Secretary Anthony Foxx. “Now, hardworking families all across the country can make better informed decisions about where to live and work, including how their different transportation options may impact those choices.”

The LAP hosts two cutting-edge data tools: the Location Affordability Index (LAI) and My Transportation Cost Calculator (MTCC). The map-based LAI is a database of predicted annual housing and transportation costs for a particular area. The LAI includes diverse household profiles—which vary by income, size, and number of commuters—and shows the affordability landscape for each one across an entire region.It was designed to help renters and homeowners, as well as planners, policymakers, developers, and researchers, get a more complete understanding of the costs of living in a location given the differences between households, neighborhoods, and regions, all of which impact affordability. The data covers 94% of the U.S. population.

The Cost Calculator, a companion to the LAI, allows users to customize data for their own household and potential residential locations. Users enter basic information about their income, housing, cars, and travel patterns. The customized estimates give a better understanding of transportation costs, how much they differ in other locations, and how much they are impacted by individual choices, allowing users to make more informed decisions about where to live and work.

The LAI was developed with the input of real-estate industry professionals, academics, and expert staff from HUD and DOT, and uses statistical models that were developed from various sources that capture key neighborhood characteristics: population density, transit and job access, average number of commuters and distance of commutes, average household income and size, median selected monthly owner costs (SMOC), and median gross rent. The LAI also considers: car ownership, annual vehicle miles traveled (VMT), percent of commuters using transit, average selected monthly ownership costs, and average gross rent. This data is then used to calculate total housing and transportation costs.

Most of the model uses data that describe features of a neighborhood that are the same regardless of who lives there. To show how affordable neighborhoods across a region are for different types of households, the LAI presents data in terms of eight different household types–each characterized by the number of family members, household income and number of commuters–that represent a broad range of U.S. families. Descriptions of these household types, as well as the complete methodology used to create the Index, are available on the LAP.

“I’ve witnessed the evolution of these tools over time and I’m impressed by the attention to detail and statistical sophistication,” said Tom Sanchez, Virginia Tech professor and Editor of the academic journal Housing Policy Debate. “Household location decisions are in fact a function of housing costs and transportation costs together. Better information should lead to better decisions that effect not only particular households, but also communities and regions.”

HUD and DOT have analyzed the LAI data to better understand how housing and transportation costs vary between neighborhoods and across regions, and how land use, infrastructure investment, neighborhood characteristics, and demographic factors ultimately impact household budgets.

The core finding of the LAI is that the way communities are built and connected to one another has significant impacts on how much resident households spend on transportation. At the neighborhood level, factors like the density of residential development, access to transit and jobs, and street connectivity strongly influence household travel behaviors and costs. At the regional level, sprawl is the strongest indicator of average transportation costs, with households in higher density areas having lower transportation costs.
Courtesy US Department of Housing & Urban Development

WASHINGTON – Today, the Federal Housing Administration (FHA) published revised guidelines for lenders when they manually underwrite mortgage loan applications of borrowers applying for FHA-insured mortgages. This change will improve a lender’s ability to objectively consider a borrower’s risk and reduce additional credit requirements or ‘overlays’ that exceed FHA’s own lending standards. Read FHA’s revised manual underwriting standards.

New manual underwriting requirements announced today are intended to encourage lenders to use a defined set of objective standards and ‘compensating factors’ in order to make responsible, risk-based underwriting decisions. In addition, FHA’s manual underwriting guidance addresses loan characteristics such as high debt-to-income ratios and a lack of financial reserves that can result in high rates of default and foreclosure.

“We want to provide revised guidance for our lenders so that they are confident in offering affordable mortgage loans to responsible borrowers under a reasonable set of guiding principles,” said FHA Commissioner Carol Galante. “We hope to bring more certainty to the market by helping lenders apply a set of consistent underwriting standards.”

Currently, most FHA-insured loans are underwritten through automated underwriting systems that score applications using FHA’s TOTAL (Technology Open to Approved Lenders) Mortgage Scorecard. The TOTAL Mortgage Scorecard evaluates borrowers based on credit scores and other loan factors. When TOTAL delivers a Refer scoring recommendation or when borrowers were not scored because they do not have credit scores, lenders are required to manually underwrite the borrower. Specific policy revisions included in this regulation are reserve requirements for all manually underwritten borrowers, establishing maximum qualifying ratios based on credit score and compensating factors; and providing a revised list of acceptable compensating factors with objective documentation requirements for assessing these factors.

This Press Release is courtesy of US Department of Housing & Urban Development

SAN JOSE, Calif., — Move, Inc., a subsidiary of News Corp [Nasdaq: NWS, NWSA], today announced enhanced features for realtor.com® ShowcaseSM Listing Enhancements, FiveStreetSM, and Top Producer® CRM to help real estate professionals establish deeper connections with buyers and streamline the way they manage inbound leads.

“At Move, we pride ourselves on providing a holistic solution that arms brokerage firms, and their agents, with the best ways to optimize their listings and manage their businesses,” said Ray Picard, Move’s executive vice president of sales. “The combined benefits of Move’s new product enhancements are the one-two punch that brokers and agents are looking for to help them close transactions. First, enhanced listing features help brokers and agents grab the attention of potential home buyers. As leads from interested buyers come in, agents are able to respond quickly and have quick access to information they need for a meaningful discussion.”

ShowcaseSM leads now come packed with additional consumer information to help real estate professionals connect immediately and have meaningful conversations with prospective home buyers. Enhancements to realtor.com®’s ShowcaseSM listings include:

Mobile-optimized Intelligent Lead Notifications
Phone and email address validation service
Consumer search interests plus images and descriptions of recently searched property listings
Showing Request alerts
FiveStreetSM and Top Producer® CRM products are designed to help brokerage firms and their agents effectively manage their business and respond to incoming leads in a timely manner. With FiveStreetSM and Top Producer® CRM, teams and brokerages can now:

Consolidate their leads from realtor.com® plus over 100+ sources
Respond instantly to every lead via short message service (SMS) and email
Broadcast leads to multiple agents at once where the first to claim receives the lead
Provide their agents a leading system to manage and optimize the process of converting a lead to a long term and repeat client
Track lead and agent performance
“We see an entrepreneurial spirit in our agents and we are committed to providing them with the best technology tools and resources to help them better serve their clients,” said Scott Agran, broker and president at Lang Realty. “We were looking for the ‘best in class’ suite of products to support our marketing initiatives and found that ShowcaseSM coupled with FiveStreetSM, Top Producer® and Market Snapshot underscored exceptional service and the importance of the real estate professionals’ expertise and insight.”

“It is essential that we respond to inquiries immediately and provide valued service to our clients,” said Ron Mintz, executive vice president at Bay Sotheby’s International. “By incorporating both FiveStreetSM and Top Producer® into our toolkit, we’ve cut our response time to seconds in the hopes of capturing the interested party, rather than losing them. This is a monumental win for our clients.”

With the addition of these enhancements, Move continues to evolve by delivering real estate professionals the best marketing solutions possible – empowering brokerage firms to be even more successful. Realtor.com®’s lead volume has grown exponentially over the last five years (over 325%) and brokers and agents rate realtor.com® higher than the competition for lead quality.

About Move, Inc. and realtor.com®
Move, Inc., a subsidiary of News Corp, is a leading provider of online real estate services. Move operates the realtor.com® website and mobile experiences, which connect people to the most important and accurate information they need to find their perfect home and to the REALTORS® whose expertise guides consumers through buying and selling. As the official website of the National Association of REALTORS®, realtor.com® empowers consumers to make smart home buying, selling and renting decisions by leveraging its direct, real-time connections with more than 800 multiple listing services (MLS) via all types of computers, tablets and smartphones. In addition to the industry’s most comprehensive and accurate information, Move’s network of websites provides consumers a wealth of innovative tools, including Moving.com™, SeniorHousingNetSM and others. Move supports real estate agents and brokerages by providing many services to grow their businesses, including ListHub™, the nation’s leading listing syndicator and centralized intelligence platform for the real estate industry; TigerLead®; Top Producer® Systems; and FiveStreetSM; as well as many free services. Move is based in the heart of Silicon Valley – in San Jose, Calif.

New York, NY – News Corp and Move, Inc. (“Move”) announced today that News Corp has agreed to acquire Move, a leading online real estate business that brings consumers and Realtors® together to facilitate the sale and rental of real estate in the United States.

REA Group Limited (“REA”), which is 61.6% owned by News Corp and is the operator of the leading Australian residential property website, realestate.com.au, plans to hold a 20% stake in Move with 80% held by News Corp.

Through realtor.com® and its mobile applications, Move displays more than 98% of all for-sale properties listed in the US, sourced directly from relationships with more than 800 Multiple Listing Services (“MLS”) across the country. As a result, Move has the most up-to-date and accurate for-sale listings of any online real estate company in America. The Move Network of websites, which also includes Move.com, reaches approximately 35 million people per month, who spend an average of 22 minutes each on its sites[1].

Move’s content advantage makes it well positioned to capitalize on the fast-growing US online real estate sector and the world’s largest residential real estate market. More than five million homes in the United States are bought and sold each year, representing more than $1 trillion in annual transaction volume. Agents and brokers are expected to spend approximately $14 billion in 2014 marketing homes (up from approximately $11 billion in 2012), and an additional $11 billion will be spent by mortgage providers[2].

Under the acquisition agreement, which has been unanimously approved by the board of directors of Move, News Corp will acquire all the outstanding shares of Move for $21 per share, or approximately $950 million (net of Move’s existing cash balance), via an all-cash tender offer. This represents a premium of 37% over Move’s closing stock price on September 29, 2014. REA’s share will be acquired for approximately US$200 million. News Corp intends to commence a tender offer for all of the shares of common stock of Move within 10 business days, followed by a merger to acquire any untendered shares.

“This acquisition will accelerate News Corp’s digital and global expansion and contribute to the transformation of our company, making online real estate a powerful pillar of our portfolio,” said Robert Thomson, Chief Executive of News Corp. “We intend to use our media platforms and compelling content to turbo-charge traffic growth and create the most successful real estate website in the US. We are building on our existing real estate expertise and expect to leverage the potential of Move and its valuable connections with Realtors® and consumers around the country.”

“In addition to boosting Move’s subscription, advertising and software services, this acquisition will give News Corp a significant marketing platform for our media assets, which will benefit from the high-quality geographic data generated by real estate searches,” said Mr. Thomson. “We certainly expect this deal to amount to far more than the sum of the parts.”

“News Corp’s acquisition of Move speaks powerfully to the quality and value of our content, audience and industry relationships,” said Steve Berkowitz, Chief Executive Officer of Move. “We provide people with the information, tools and professional expertise they need to make the best and most informed real estate decisions, and we work to uphold the indispensable role of the professional in the real estate experience. News Corp shares our vision, which is one of the many reasons this combination is such good news for our customers, consumers and the industry as a whole.”

REA Group Chief Executive Tracey Fellows said: “This is a fantastic opportunity for REA Group to invest in a leading player in the largest real estate market in the world. We see strong growth potential for Move, given the size of the US market, the significant proportion of real estate advertising yet to move online, and recent industry consolidation. We believe that our digital real estate know-how, combined with News Corp’s content, distribution and marketing strengths, will be a winning combination for Move and for our shareholders.”

Move has an exclusive, strategic relationship with the National Association of Realtors® (“NAR”), the largest trade organization in the United States, with more than one million members, and NAR has given its consent to the acquisition. Move is focused on providing high ROI for agents and benefits from their invaluable marketing support and high quality listings for vendors and potential purchasers.

“This partnership will help shape the future of real estate,” said National Association of Realtors® President Steve Brown. “News Corp’s ability to reach and engage consumers, combined with realtor.com®’s quality content and the real insights Realtors® provide will transform the current landscape. Working together, Realtors®, Move and News Corp will truly make home happen.”

Move owns ListHub, a digital platform that aggregates and syndicates MLS data to more than 130 online publishers, reaching approximately 900 websites.

The Move audience is highly engaged and transaction ready; over 90% of page views on their websites are on ‘for sale’ properties,[3] helping generate the highest conversion rate of qualified leads in the industry[4]. The connection between agents and customers is strengthened by robust web and mobile-based customer-relationship management offerings to help facilitate transactions. Approximately 60% of traffic for Move websites comes from mobile devices.

For the year ended December 31, 2013, Move reported $227 million in revenues, and $29 million in adjusted EBITDA[5], and generated the highest revenue per unique user in the industry.

Move will become an operating business of News Corp and remain headquartered in San Jose, California. The company, started in 1993, has 913 employees.

Some of the expected key benefits of the transaction include:

Broadened reach for Move through News Corp’s robust platform including WSJ Digital Network (approximately 500 million average monthly page views[6]) and News America Marketing (nearly 74 million households)
Increased sales and marketing support to drive higher brand awareness and traffic
Cross-platform promotion and audience monetization expertise
Leverage of News Corp’s and REA’s real estate and digital expertise to drive improved product innovation, consumer engagement and audience growth
Boost traffic and digital dwell times with high quality News Corp content
###

In addition to its leading position in Australia, REA’s operations and investments include leading online real estate websites in Italy (casa.it) and Luxembourg (atHome.lu) with presence also in regional France. In Asia, REA operates MyFun.com for the Chinese market and squarefoot.com.hk in Hong Kong and recently acquired a 17.22% stake in iProperty, the leading online real estate advertising business across South East Asia.

Along with its connection to REA, News Corp also has substantial expertise in real estate via its newspaper holdings, including The Wall Street Journal and the New York Post. In 2012, the Journal began publishing Mansion, a successful global luxury real estate section, under the leadership of Mr. Thomson, who was then the Journal’s Managing Editor. News Corp’s UK publications also provide readers with online access to home and apartment listings throughout Great Britain. The Times of London’s lucrative Bricks & Mortar section was also commissioned and overseen by Mr. Thomson while he was Editor of that publication.

“We have great faith in America’s potential and the long-term asset value of housing, which is continuing its recovery and has yet to regain its full potency,” said Mr. Thomson. “It is forecast that the number of Millennial households will increase from 13.3 million in 2013 to 21.6 million in 2018, and they will spend more than $2 trillion on home purchases and rent by 2018[7]. Many will begin their search online and use tools and content on realtor.com®. Buying a home is the most important investment decision any family will make.”

The acquisition is subject to the satisfaction of customary closing conditions, including regulatory approvals and a minimum tender of at least a majority of the outstanding Move shares, and is expected to close by the end of calendar year 2014.

Advisors on the transaction include Goldman Sachs, as financial advisor, and Skadden, Arps, Slate, Meagher and Flom LLP, as legal advisor, for News Corp and Morgan Stanley, as financial advisor, and Cooley LLP, as legal advisor, for Move.

SEATTLE, — Zillow, Inc. (NASDAQ: Z), the leading real estate information marketplace, today announced the Northwest Minnesota Association of Realtors has joined the Zillow® Partnership Platform. The Zillow Partnership Platform enables MLS data to be sent directly to Zillow as often as every 15 minutes, ensuring that current, active listings always are up to date, correct and in sync with the MLS data.

“We are exceptionally pleased to see the Zillow Partnership Platform continue to grow with great partners such as the Northwest Minnesota Association of Realtors,” said Curt Beardsley, Zillow vice president of industry development. “It’s encouraging to see that more and more associations and multiple listing services see the value in developing a direct relationship with Zillow and we are excited to offer the brokers and agents of northwestern Minnesota the ability to easily market their listing to Zillow’s ever-growing audience of home shoppers.”

The Northwest Minnesota Association of Realtors’ listings will now be seen across the Yahoo!®-Zillow Real Estate Network, the largest real estate network on the web[i], as well as on Zillow’s popular suite of mobile apps and on HotPads®, AOL® Real Estate, MSN® Real Estate and HGTV®’s FrontDoor®. The Northwest Minnesota Association of Realtors has 187 members and more than 1,330 listings.

Real estate agents from participating brokerages will be prominently displayed as the listing agent on all their listings, be able to receive leads directly from Zillow and have daily reporting access. Participating brokerages will receive attribution, branding and a link back to their website. To learn more about the platform, email partners@zillow.com or call 206-757-4250.

(ZFIN)

About Zillow, Inc.
Zillow, Inc. (NASDAQ:Z) operates the leading real estate and home-related information marketplaces on mobile and the Web, with a complementary portfolio of brands and products that help people find vital information about homes, and connect with the best local professionals. Zillow’s brands serve the full lifecycle of owning and living in a home: buying, selling, renting, financing, remodeling and more. In addition, Zillow offers a suite of tools and services to help local real estate, mortgage, rental and home improvement professionals manage and market their businesses. Welcoming 83 million unique users in June 2014, the Zillow, Inc. portfolio includes Zillow.com®, Zillow Mobile, Zillow Mortgage Marketplace, Zillow Rentals, Zillow Digs®, Postlets®, Diverse Solutions®, Agentfolio®, Mortech®, HotPads™ and StreetEasy®. The company is headquartered in Seattle.

WASHINGTON – As part of its ongoing investigation into a March 12 gas explosion that destroyed two buildings in the East Harlem section of New York City, the NTSB today released an investigative update. The NTSB sent a go-team to the accident, and still has investigators on-scene.

The 8-inch cast iron/plastic main on Park Avenue between 116th and 117th streets failed the pressure test at the normal operating pressure. Tracer gas pumped into the main and a leak survey identified a leak adjacent to 1646 Park Avenue, one of the collapsed buildings.
Two service line segments (one about 20-feet long, the other about 3-feet long) recovered in the basements of the destroyed buildings at 1644 and 1646 Park Avenue have been removed and tagged as NTSB evidence. Items will be shipped to the NTSB laboratory in Washington.
Pressure testing of the service lines to buildings on Park Avenue adjacent to the destroyed buildings continues with no significant findings to date. ConEdison and the city are working to restore gas service to the adjacent buildings.
Work planned for the remainder of the week:

As the Fire Department recovery work permits the leak location will be excavated to expose the gas main pipe. Pipe segments will be marked, cut, removed and tagged as NTSB evidence; then shipped to the NTSB lab in Washington for further examination and testing. Undamaged pipe segments will also be shipped to the lab for comparison examination.
The segment of the cracked water main pipe in front of 1644 Park Avenue will also be cut and removed for shipment to the NTSB lab.
The City utility department is planning to run a camera probe inside the water and sewer pipes on Park Avenue between 116th and 117th streets. The videos will be added to NTSB accident docket as part of the evidence collection.
The NTSB investigation team with assistance from the parties, including ConEdison and the City, continue collecting gas system and water system operation, maintenance, and repair records for the vicinity of the explosion.
The investigation is ongoing. Any future updates will be issued as events warrant.

This news is courtesy of www.ntsb.gov

SEATTLE, — Of the nation’s 100 largest metro areas, only a dozen are currently more affordablei than they historically have been for both renters and homeowners, as widespread growth in housing costs continues to outpace wage growth. Nationally, U.S. home values rose 6.5 percent year-over-year in July, according to the July Zillow® Real Estate Market Reportsii, while national rents rose 2.8 percent over the same period.

Rental affordability is currently much worse than mortgage affordability, largely because rents didn’t experience the huge drop seen in home values during the recession, and instead have just kept climbing upward. Nationally, renters signing a lease at the end of the second quarter paid 29.5 percent of their income to rent, compared to 24.9 percent in the pre-bubble period. In 88 of the nation’s largest metro areas, renters should currently expect to pay a larger share of their income toward rent than they would have historically.

Thanks mostly to low mortgage interest rates, affordability of for-sale homes looks much better. U.S. home buyers at the end of the second quarter could expect to pay 15.3 percent of their incomes to a mortgage on the typical home, far less than the 22.1 percent share homeowners devoted to mortgages in the pre-bubble days. As of June, home buyers in just six of the country’s 100 largest metro markets analyzed by Zillow were paying a larger portion of their incomes today than historically in order to buy their area’s median-priced home.

But mortgage rates are expected to rise in the coming year. When mortgage rates hit 5 percent, still very low by historical standards, the number of unaffordable metros for homeowners among the top 100 will more than double, to 13. At 6 percent mortgage interest rates, the number of unaffordable metros will almost double again, to 24.

“The affordability of for-sale homes remains strong, which is encouraging for those buyers that can save for a down payment and capitalize on low mortgage interest rates. But the health of the for-sale market is directly tied to the rental market, where affordability is really suffering” said Zillow Chief Economist Dr. Stan Humphries. “As rents keep rising, along with interest rates and home values, saving for a down payment and attaining homeownership becomes that much more difficult for millions of current renters, particularly millennial renters already saddled with uncertain job prospects and enormous student debt. In order to combat this phenomenon, wages need to grow more quickly than they are, particularly for renters, and growth in home values will need to slow.”

The median annual income nationwide was $53,216 as of the end of the second quarteriii. But according to the Census Bureau, homeowners and renters make drastically different salaries – homeowners make $65,514 per year, while the typical renter in the U.S. makes just $31,888iv.

In July, median U.S. home values rose 0.2 percent from June, to a Zillow Home Value Indexv of $174,800, the slowest monthly pace of appreciation since February 2012. Looking ahead, for the 12-month period from July 2014 to July 2015, national home values are expected to rise another 2.7 percent to approximately $179,489, according to the Zillow Home Value Forecastvi.

About Zillow, Inc.

Zillow, Inc. (NASDAQ: Z) operates the largest home-related marketplaces on mobile and the Web, with a complementary portfolio of brands and products that help people find vital information about homes, and connect with the best local professionals. In addition, Zillow operates an industry-leading economics and analytics bureau led by Zillow’s Chief Economist Dr. Stan Humphries. Dr. Humphries and his team of economists and data analysts produce extensive housing data and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price Expectations Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home Value Index over the next five years. Zillow also sponsors the bi-annual Zillow Housing Confidence Index (ZHCI) which measures consumer confidence in local housing markets, both currently and over time. The Zillow, Inc. portfolio includes Zillow.com®, Zillow Mobile, Zillow Mortgage , Zillow Rentals, Zillow Digs®, Postlets®, Diverse Solutions®, Agentfolio®, Mortech®, HotPads™, StreetEasy® and Retsly™. The company is headquartered in Seattle.

Zillow.com, Zillow, Zestimate, Postlets, Mortech, Diverse Solutions, StreetEasy, Agentfolio and Digs are registered trademarks of Zillow, Inc. HotPads and Retsly are trademarks of Zillow, Inc.

i Zillow determined affordability by analyzing the current percentage of a metro area’s median income needed to afford the rent or the monthly mortgage payment on a median-priced home or apartment, and compared it to the share of income needed in the pre-bubble years between 1985 and 1999. If the share of monthly income currently needed to afford the median-priced home or apartment is greater than it was during the pre-bubble years, that area is considered unaffordable for typical buyers or renters.

ii The Zillow Real Estate Market Reports are a monthly overview of the national and local real estate markets. The reports are compiled by Zillow Real Estate Research. For more information, visit www.zillow.com/research/. The data in Zillow’s Real Estate Market Reports are aggregated from public sources by a number of data providers for 928 metropolitan and micropolitan areas dating back to 1996. Mortgage and home loan data are typically recorded in each county and publicly available through a county recorder’s office. All current monthly data at the national, state, metro, city, ZIP code and neighborhood level can be accessed at www.zillow.com/local-info/ and www.zillow.com/research/data.

iii Median household income was computed using the latest available data from the U.S. Census Bureau: Current Population Survey, chained forward using the Bureau of Labor Statistics’ Employment Cost Index to the second quarter of 2014.

iv Data obtained from the U.S. Census Bureau, 2012 American Community Survey.

v The Zillow Home Value Index is the median estimated home value for a given geographic area on a given day and includes the value of all single-family residences, condominiums and cooperatives, regardless of whether they sold within a given period. It is expressed in dollars, and seasonally adjusted.

vi The Zillow Home Value Forecast uses data from past home value trends and current market conditions, including leading indicators like home sales, months of housing inventory supply and unemployment, to predict home values over the next 12 months for the nation and for more than 250 markets across the country.

vii The Zillow Rent Index is the median Rent Zestimate® (estimated monthly rental price) for a given geographic area on a given day, and includes the value of all single-family residences, condominiums, cooperatives and apartments in Zillow’s database, regardless of whether they are currently listed for rent. It is expressed in dollars.

SOURCE Zillow, Inc.

WASHINGTON, DC – The Fannie Mae (FNMA/OTCQB) Home Purchase Sentiment Index® (HPSI) decreased in May by 1.2 points to 65.6, as affordability constraints continue to color consumers’ perceptions of homebuying and home-selling conditions. Four of the HPSI’s six components decreased month over month, most notably the component polling consumers’ belief that it’s a “good time to buy,” which is once again nearing its survey low. The “good time to sell” component, however, increased in May to its highest level since last July. Additionally, for the second consecutive month, a greater share of consumers indicated that they expect home prices to increase over the next year. The full index is down 2.6 points year over year.

“As we near the end of the spring homebuying season, the latest HPSI results indicate that affordability hurdles, including high home prices and mortgage rates, remain top of mind for consumers, most of whom continue to tell us that it’s a bad time to buy a home but a good time to sell one,” said Mark Palim, Fannie Mae Vice President and Deputy Chief Economist. “Consumers also indicated that they don’t expect these affordability constraints to improve in the near future, with significant majorities thinking that both home prices and mortgage rates will either increase or remain the same over the next year. Notably, the same factors impacting affordability may also be affecting the perceived ease of getting a mortgage. This was particularly true among renters: 81% believe it would be difficult to get a mortgage today, matching a survey high.”

Home Purchase Sentiment Index – Component Highlights
Fannie Mae’s Home Purchase Sentiment Index (HPSI) decreased in May by 1.2 points to 65.6. The HPSI is down 2.6 points compared to the same time last year. Read the full research report for additional information.

Good/Bad Time to Buy: The percentage of respondents who say it is a good time to buy a home decreased from 23% to 19%, while the percentage who say it is a bad time to buy increased from 77% to 80%. As a result, the net share of those who say it is a good time to buy decreased 7 percentage points month over month.
Good/Bad Time to Sell: The percentage of respondents who say it is a good time to sell a home increased from 62% to 65%, while the percentage who say it’s a bad time to sell decreased from 38% to 34%. As a result, the net share of those who say it is a good time to sell increased 8 percentage points month over month.
Home Price Expectations: The percentage of respondents who say home prices will go up in the next 12 months increased from 37% to 39%, while the percentage who say home prices will go down decreased from 32% to 28%. The share who think home prices will stay the same increased from 31% to 33%. As a result, the net share of those who say home prices will go up increased 6 percentage points month over month.
Mortgage Rate Expectations: The percentage of respondents who say mortgage rates will go down in the next 12 months decreased from 22% to 19%, while the percentage who expect mortgage rates to go up increased from 47% to 50%. The share who think mortgage rates will stay the same remained unchanged at 31%. As a result, the net share of those who say mortgage rates will go down over the next 12 months decreased 5 percentage points month over month.
Job Loss Concern: The percentage of respondents who say they are not concerned about losing their job in the next 12 months decreased from 79% to 77%, while the percentage who say they are concerned increased from 21% to 22%. As a result, the net share of those who say they are not concerned about losing their job decreased 3 percentage points month over month.
Household Income: The percentage of respondents who say their household income is significantly higher than it was 12 months ago decreased from 24% to 20%, while the percentage who say their household income is significantly lower increased from 11% to 12%. The percentage who say their household income is about the same increased from 64% to 67%. As a result, the net share of those who say their household income is significantly higher than it was 12 months ago decreased 5 percentage points month over month.
About Fannie Mae’s Home Purchase Sentiment Index
The Home Purchase Sentiment Index® (HPSI) distills information about consumers’ home purchase sentiment from Fannie Mae’s National Housing Survey® (NHS) into a single number. The HPSI reflects consumers’ current views and forward-looking expectations of housing market conditions and complements existing data sources to inform housing-related analysis and decision making. The HPSI is constructed from answers to six NHS questions that solicit consumers’ evaluations of housing market conditions and address topics that are related to their home purchase decisions. The questions ask consumers whether they think that it is a good or bad time to buy or to sell a house, what direction they expect home prices and mortgage interest rates to move, how concerned they are about losing their jobs, and whether their incomes are higher than they were a year earlier.

About Fannie Mae’s National Housing Survey
The National Housing Survey (NHS) is a monthly attitudinal survey, launched in 2010, which polls the adult general population of the United States to assess their attitudes toward owning and renting a home, purchase and rental prices, household finances, and overall confidence in the economy. Each respondent is asked more than 100 questions, making the NHS one of the most detailed attitudinal longitudinal surveys of its kind, to track attitudinal shifts, six of which are used to construct the HPSI (findings are compared with the same survey conducted monthly beginning June 2010). For more information, please see the Technical Notes.

Fannie Mae conducts this survey and shares monthly and quarterly results so that we may help industry partners and market participants target our collective efforts to support the housing market. The May 2023 National Housing Survey was conducted between May 1, 2023 and May 22, 2023. Most of the data collection occurred during the first two weeks of this period. The May 2023 NHS was conducted exclusively through AmeriSpeak®, NORC at the University of Chicago’s probability-based panel, on behalf of PSB Insights and in coordination with Fannie Mae. Calculations are made using unrounded and weighted respondent level data to help ensure precision in NHS results from wave to wave. As a result, minor differences in calculated data (summarized results, net calculations, etc.) of up to 1 percentage point may occur due to rounding.

Detailed HPSI & NHS Findings
For detailed findings from the Home Purchase Sentiment Index and National Housing Survey, as well as a brief HPSI overview and detailed white paper, technical notes on the NHS methodology, and questions asked of respondents associated with each monthly indicator, please visit the Surveys page on fanniemae.com. Also available on the site are in-depth special topic studies, which provide a detailed assessment of combined data results from three monthly studies of NHS results.

To receive e-mail updates with other housing market research from Fannie Mae’s Economic & Strategic Research Group, please click here.

About the ESR Group
Fannie Mae’s Economic and Strategic Research Group, led by Chief Economist Doug Duncan, studies current data, analyzes historical and emerging trends, and conducts surveys of consumer and mortgage lender groups to provide forecasts and analyses on the economy, housing, and mortgage markets. The ESR Group was recently awarded the prestigious 2022 Lawrence R. Klein Award for Blue Chip Forecast Accuracy based on the accuracy of its macroeconomic forecasts published over the 4-year period from 2018 to 2021.

About Fannie Mae
Fannie Mae advances equitable and sustainable access to homeownership and quality, affordable rental housing for millions of people across America. We enable the 30-year fixed-rate mortgage and drive responsible innovation to make homebuying and renting easier, fairer, and more accessible. To learn more, visit:
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MCLEAN, VA – Freddie Mac (OTCQB: FMCC) today released its updated Multi-Indicator Market Index® (MiMi®) showing that the U.S. housing market experienced some winter doldrums. While an improving labor market and attractive mortgage rates continue to promise a strong spring homebuying season, housing market stability stumbled a bit due to the cold winter and a softening of economic growth. The slight decline in the national MiMi value this month is broad-based, and not concentrated in a handful of state or metro markets.

News Facts:
The national MiMi value stands at 74.6, indicating a weak housing market overall and showing a slight decline (-0.20%) from December to January and 3-month decline of (-0.37%). On a year-over-year basis, the U.S. housing market has improved (+3.39%). The nation’s all-time MiMi high of 121.7 was April 2006; its low was 57.4 in October 2010, when the housing market was at its weakest. Since that time, the housing market has made a 30 percent rebound.

Fourteen of the 50 states plus the District of Columbia have MiMi values in a stable range, with North Dakota (96.9), the District of Columbia (96.3), Hawaii (90.1), Montana (90.0), and Wyoming (88.4) ranking in the top five.

Nine of the 50 metro areas have MiMi values in a stable range, with Austin (86.0), Los Angeles (85.2), San Jose (84.1), Houston (82.2), and San Francisco (82.2) ranking in the top five.
The most improving states month-over-month were Oregon (+1.29%), Idaho (+0.49%), Utah (+0.49%), Georgia (+0.48%) and Michigan (+0.28%). On a year-over-year basis, the most improving states were Nevada (+12.02%), Colorado (+9.52%), Rhode Island (8.41%), Florida (+7.97%), and Illinois (+7.73%).
The most improving metro areas month-over-month were Portland (+0.65), Sacramento (+0.14%), Denver (+0.12%) and San Jose (+0.00%). On a year-over-year basis, the most improving metro areas were Las Vegas (+14.45%), Denver (+13.37%), Providence (+9.41%), Chicago (+7.41%), and Austin (+7.23%).
In January, 11 of the 50 states and 21 of the 50 metros were showing an improving three month trend. The same time last year, 49 states plus the District of Columbia, and all 50 of the top 50 metro areas were showing an improving three month trend.
Quote attributable to Freddie Mac Deputy Chief Economist Len Kiefer:

“Housing markets weakened slightly this month, which is no surprise considering the harsh winter and slowdown in economic activity at the outset of 2015. While single-family purchase applications dipped a bit across the board from December to January, they are still up nearly 3 percent from last year. Improving employment and attractive mortgage rates should help to support increased purchase applications, particularly as the weather warms up and we head into the spring homebuying season.”

“The good news is that mortgage delinquencies also continued their steady decline. The national MiMi current on mortgage indicator for January is up 10 percent from a year ago at 67.5, the highest level we’ve seen since in six years. The improvement in households paying their mortgages on time has been dramatic. For example, at its low point in February of 2010, California’s MiMi current on mortgage indicator was just 22.8. Since then, California has seen major improvements and today the current on mortgage indicator is 77.6, showing a 240 percent improvement from its low point and an 8.2 percent improvement from one year ago.”

The 2015 MiMi release calendar is available online.

MiMi monitors and measures the stability of the nation’s housing market, as well as the housing markets of all 50 states, the District of Columbia, and the top 50 metro markets. MiMi combines proprietary Freddie Mac data with current local market data to assess where each single-family housing market is relative to its own long-term stable range by looking at home purchase applications, payment-to-income ratios (changes in home purchasing power based on house prices, mortgage rates and household income), proportion of on-time mortgage payments in each market, and the local employment picture. The four indicators are combined to create a composite MiMi value for each market. Monthly, MiMi uses this data to show, at a glance, where each market stands relative to its own stable range of housing activity. MiMi also indicates how each market is trending, whether it is moving closer to, or further away from, its stable range. A market can fall outside its stable range by being too weak to generate enough demand for a well-balanced housing market or by overheating to an unsustainable level of activity.

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for approximately one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.

WASHINGTON, DC – Recent month-to-month volatility in the housing market has softened the ongoing recovery. However, the majority of the Fannie Mae National Housing Survey indicators on consumer attitudes have continued to move in a positive direction during the past year, which may portend a pickup in home buying and selling activity this spring. According to Fannie Mae’s March 2014 National Housing Survey results, the share of survey respondents who say it is a good time to sell a home climbed to 38 percent last month, compared to 26 percent at the same time last year. In addition, the share who believe it would be easy to get a mortgage today increased to 52 percent, compared to 47 a year ago, and tying the all-time survey high. Americans’ attitudes regarding their personal finances also have improved – those who expect their financial situation to worsen during the next 12 months decreased to 12 percent, a significant drop from 21 percent at the same time last year, and the share who say their personal financial situation improved during the past year reached an all-time survey high of 40 percent.

“The housing recovery continues to proceed in fits and starts. Rising mortgage rates and a lack of supply have dampened housing market momentum,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “However, we see several positive signs going into this year’s spring home buying season, compared with last year. For example, consumers are less pessimistic about their personal finances, and more optimistic about the current selling environment and their ability to get a mortgage. Still, those who are pessimistic about buying or selling a home today tend to point to economic conditions as the primary issue, and most consumers continue to say the economy is on the wrong track. Looking forward, we expect to see a pickup in economic growth later in the year, and this may boost the confidence of prospective buyers and sellers.”

SURVEY HIGHLIGHTS

Homeownership and Renting

The average 12-month home price change expectation decreased from last month, to 2.7 percent.
The share of respondents who say home prices will go up in the next 12 months decreased slightly to 48 percent, while the share who say home prices will go down decreased to 5 percent, an all-time survey low.
The share of respondents who say mortgage rates will go up in the next 12 months decreased to 54 percent, and those who said they will go down fell to 3 percent, tying the all-time survey low.
Those who say it is a good time to buy a house increased slightly from last month to 69 percent and those who say it is a good time to sell a house increased 4 percentage points from last month to 38 percent.
The average 12-month rental price change expectation decreased slightly from last month to 4.2 percent.
Fifty-two percent of those surveyed said home rental prices will go up in the next 12 months, a slight increase from last month.
Fifty-two percent of respondents thought it would be easy for them to get a home mortgage today, tying the all-time survey high first reached in January.
The share who say they would buy if they were going to move increased 2 percentage points to 68 percent.
The Economy and Household Finances

The share of respondents who say the economy is on the right track continued on a downward trend – decreasing 2 percentage points from last month to 33 percent.
The percentage of respondents who expect their personal financial situation to stay the same over the next 12 months increased 4 percentage points to 45 percent, tying a survey all-time high.
The share of respondents who say their household income is significantly higher than it was 12 months ago decreased 3 percentage points, to 21 percent.
The share of respondents who say their household expenses are significantly lower than they were 12 months ago fell one percentage point to 8 percent, tying the all-time survey low.
The most detailed consumer attitudinal survey of its kind, the Fannie Mae National Housing Survey polled 1,000 Americans via live telephone interview to assess their attitudes toward owning and renting a home, home and rental price changes, homeownership distress, the economy, household finances, and overall consumer confidence. Homeowners and renters are asked more than 100 questions used to track attitudinal shifts (findings are compared to the same survey conducted monthly beginning June 2010). Fannie Mae conducts this survey and shares monthly and quarterly results so that we may help industry partners and market participants target our collective efforts to stabilize the housing market in the near-term, and provide support in the future.

For detailed findings from the March 2014 survey, as well as a podcast providing an audio synopsis of the survey results and technical notes on survey methodology and questions asked of respondents associated with each monthly indicator, please visit the Fannie Mae Monthly National Housing Survey page on fanniemae.com. Also available on the site are in-depth topic analyses, which provide a detailed assessment of combined data results from three monthly studies. The March 2014 Fannie Mae National Housing Survey was conducted between March 1, 2014 and March 23, 2014. Most of the data collection occurred during the first two weeks of this period. Interviews were conducted by Penn Schoen Berland, in coordination with Fannie Mae.

This news is courtesy of www.fanniemae.com

MADISON, N.J., – Prudential Real Estate Investors announced today that it has completed the capital raise of Senior Housing Partners V (SHP V) with a total of $629 million in capital commitments. SHP V is the fifth in a series of dedicated, closed-end funds designed to capitalize on investment opportunities in the growing senior housing industry. PREI is the real estate investment and advisory business of Prudential Financial, Inc. (NYSE: PRU).

The capital raise, which exceeded PREI’s $500 million target, included $430.5 million from 10 existing investors and $198.5 million from four new investors, including U.S. public and corporate pension plans.

Consistent with prior Senior Housing Partners funds, SHP V will invest in the independent, assisted living and memory care segments of the senior housing industry. The fund will employ a flexible investment strategy targeting direct acquisitions, forward commitments, developments, mezzanine loans, and other opportunities.

“Powerful demographic trends continue to support the high demand for senior housing, while the supply remains constrained,” said Noah Levy, head of PREI’s senior housing business. “As the overall economy improves, we expect that senior housing will continue to benefit.”

“We are pleased with the strength of participation from PREI’s existing and new clients,” added Kevin R. Smith, head of Americas for PREI. “The successful capital raise is a testament to PREI’s consistent senior housing investment strategy, our longstanding relationships with leading senior housing operators and developers, and our ability to deliver to our clients attractive risk-adjusted returns driven by solid current income.”

Investing in the sector since 1998, PREI has helped to pioneer the dedicated senior housing investment strategy. PREI’s Senior Housing Partners team has invested approximately $2.6 billion in gross assets in the senior housing sector, involving more than 140 properties and over 15,000 units throughout the United States.

Previous PREI Senior Housing Partners funds include: SHP I, which closed in 1998, with approximately $183 million in commitments; SHP II, which closed in 2001, with approximately $94 million in commitments; SHP III, which closed in 2006, with approximately $371 million in commitments; and SHP IV, which closed in 2011, with approximately $569 million in commitments.

Prudential Real Estate Investors is the global real estate investment business of Prudential Financial, Inc. (NYSE: PRU). Investing in real estate on behalf of institutional clients since 1970, PREI today has more than 650 employees located in 19 cities around the world, and gross assets under management of $58.7 billion ($44.1 billion net) as of December 31, 2014. PREI offers to its global client base a broad range of real estate investment vehicles across the risk-return spectrum and geographies, including core, core plus, value-add, opportunistic, debt, securities, and specialized investment strategies. For more information, visit www.prei.com.

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with more than $1 trillion of assets under management as of December 31, 2014, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit www.news.prudential.com.

MADISON, N.J., – Prudential Real Estate Investors and Kauri CAB Management GmbH today announced the successful sale of a portfolio of 25 residential ‘Altbau’ buildings located within the S-Bahn ring of Berlin for €78.6 million, or about $105 million. PREI® is the real estate investment and advisory business of Prudential Financial, Inc. (NYSE:PRU).

The portfolio, with buildings constructed between 1886 and 1913, totals more than 538,000 square feet available to be leased in the districts of Neukölln, Kreuzberg, Schöneberg, Wedding, Tiergarten and Prenzlauer Berg. The transaction comprised the remaining assets acquired through a joint venture that PREI formed in August 2011 with Kauri CAB to invest in residential apartment blocks in Berlin. PREI, which operates as Pramerica Real Estate Investors in Germany, is acting on behalf of institutional investors.

Since 2011, the joint venture amassed 953 apartments, with Kauri CAB sourcing the acquisitions. Kauri CAB also oversaw the day-to-day property management, rental negotiations and refurbishment.

Sebastiano Ferrante, PREI’s head of Germany said, “The sale represents an excellent outcome for PREI and our partner. Most important, this sale confirms the successful track record of European value-added transactions we have made on behalf of our clients for the last 15 years. We intend to leverage this experience to capitalize on future investment opportunities in the German residential sector.”

Hagen Kahmann Genaral Manager of Kauri CAB Management added “We are pleased how this transaction resulted in a win for us in Berlin’s sizable market with a strong rent culture.”

Real estate advisor Angermann and European law firm Beiten Burkhardt acted for the joint venture in the sale.

Kauri CAB Management GmbH, based in Berlin, was formed in 2008. The company provides in-house a full suite of services within the German residential real estate sector; including: deal sourcing, acquisition, debt financing and structuring, asset management, property management, rental optimization and architectural and construction services. The principal has nearly 20 years of experience investing into real estate in Germany, much of that specifically into residential properties in Berlin. The company currently has 18 employees and manages approximately €80mn of predominately residential assets.

PREI is a leader in the global real estate investment management business, offering a broad range of investment vehicles that invest in private and public market opportunities in the United States, Europe, the Middle East, Asia, Australia and Latin America. Headquartered in Madison, N.J., the company also has offices in Atlanta, Chicago, Miami, New York, San Francisco, Frankfurt, Lisbon, London, Luxembourg, Munich, Paris, Abu Dhabi, Mexico City, Sao Paulo, Hong Kong, Seoul, Singapore, Sydney and Tokyo. Pramerica Real Estate Investors had gross assets under management of USD $55.8 billion ($41.8 billion net), as of March 31, 2014. For more information, visit http://www.prei.com.

Prudential Financial, Inc. (NYSE:PRU), a financial services leader with more than $1.1 trillion of assets under management as of March 31, 2014, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit www.news.prudential.com.

WASHINGTON, April 16, 2021 — Full-year 2021 real GDP growth expectations improved to 6.8 percent, including 9.1 percent annualized growth in the second quarter, due primarily to the continued easing of virus-related social restrictions and stimulus-driven consumer spending, according to the April 2021 commentary from the Fannie Mae (OTCQB: FNMA) Economic and Strategic Research (ESR) Group. Economic activity rebounded sharply following February’s weather-related pullback, and the acceleration is expected to continue through the second quarter before tapering in the second half of the year. Given the unprecedented nature of last year’s pandemic-induced slowdown, risks to this part of the forecasted recovery remain elevated. Uncertainties to the forecast include the extent of consumers’ willingness to tap into their accumulated savings and return to previously COVID-restricted activities; they also include well-publicized supply chain disruptions, the pace of inflation, and both monetary and fiscal policy uncertainty.

While housing demand remains strong, the ESR Group revised its annual home sales forecast slightly downward due to continued supply constraints and a modestly higher outlook for mortgage rates. Even so, home sales and purchase mortgage originations in 2021 are expected to rise 6.2 percent and 14.5 percent, respectively, year over year. Additionally, given the continued supply-demand imbalance, home prices are forecast to rise 8.0 percent in 2021 – up from the previously forecast 4.2 percent – before decelerating to 2.9 percent annualized in 2022, as measured by the FHFA Home Price Index.

“The ramp-up we’d previously forecast for the economy is underway, as evidenced by, among other measures, increasing airline passenger reservations and restaurant bookings,” said Doug Duncan, Senior Vice President and Chief Economist. “Vaccinations are continuing to roll out, and consumers appear to be increasingly looking toward post-pandemic life. While inflationary pressure is growing, our latest forecast update suggests that in the near term interest rates will remain steady at borrower-friendly levels. In fact, despite the recent increases, mortgage rates remain near historical lows, which we expect will help maintain strong housing demand in 2021.

Duncan added: “An above-average pace of renters converting to first-time homebuyers is continuing, with many migrating into the suburbs from denser urban areas. However, strong consumer demand for housing continues to hit up against a lack of supply, limiting sales and bolstering home prices, which we expect will further compound affordability concerns in the months ahead as homebuilders also wrestle with input supply restraints.”

Visit the Economic & Strategic Research site at fanniemae.com to read the full April 2021 Economic Outlook, including the Economic Developments Commentary, Economic Forecast, Housing Forecast, and Multifamily Market Commentary. To receive e-mail updates with other housing market research from Fannie Mae’s Economic & Strategic Research Group, please click here.

About Fannie Mae
Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of people in America. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit:
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DENVER – RE/MAX Commercial®, part of the world’s most productive real estate network, has become one of the most dynamic names in the commercial sector. The commercial division of RE/MAX reported exceptional growth in annual total sales and lease volume, transaction sides and number of offices in 2013 and was recently ranked one of the top commercial brands on LoopNet.

“Last year saw tremendous growth for our RE/MAX Commercial Practitioners,” said Mike Reagan, RE/MAX Senior Vice President, Business Alliances. “Their remarkable achievements are a testament to the dedication, experience and professionalism they continuously demonstrate in the commercial real estate industry. RE/MAX Commercial complements the unsurpassed drive and determination of our practitioners with the brand awareness, training systems and resources they need to succeed.”

RE/MAX Commercial experienced an extraordinary 22.8 percent growth in total volume in 2013 when compared with total volume from the previous year. An impressive $8.7 billion in total sales and lease volume was reported last year compared to $7 billion in 2012. It is a continuing trend as RE/MAX Commercial grew its total volume 17.4 percent from 2011 to 2012.

The ongoing success of RE/MAX Commercial also can be seen in its growth of annual transaction sides. RE/MAX Commercial Practitioners were involved in 23,585 transaction sides around the world last year – up 15 percent from the 20,400 transaction sides that were reported in 2012. RE/MAX Commercial transaction sides also grew from 2011 to 2012 with an increase of 8.4 percent.

The number of RE/MAX Commercial offices and divisions around the globe grew from 439 in 2012 to 491 in 45 countries in 2013. According to the Certified Commercial Investment Member Institute (CCIM), RE/MAX has one of the largest contingents of CCIM designees and candidates in the industry. Additionally, four RE/MAX Commercial Practitioners have served as presidents of the CCIM Institute.

With over a quarter of a million commercial properties, remaxcommercial.com features more inventory than any other commercial brokerage network website. It’s a significant feat considering RE/MAX only launched the RE/MAX Commercial website in November 2012. The site continues to position RE/MAX Commercial Practitioners as qualified and reliable sources for buyers, sellers, landlords, tenants, brokers, bankers, municipalities and other potential clients. Remaxcommercial.com also features timely and insightful market reports, global real estate news and valuable lead-generating sourcing for commercial practitioners and an advanced search feature that allows consumers to locate properties based on location and property type.

RE/MAX Commercial recently solidified its place as a leader in commercial real estate by being one of the top 10 commercial brands by number of listings on LoopNet. LoopNet is a leading information services provider that offers a suite of products and services tailored to the commercial real estate industry. It operates the largest and most heavily trafficked online commercial real estate listing service with more than seven million registered members and an average of five million monthly unique visitors.

This news is courtesy of www.remax.com

SANTA CLARA, Calif., — Realtor.com®, a leading online real estate destination operated by News Corp [NASDAQ: NWS, NWSA]; [ASX: NWS, NWSLV] subsidiary Move, Inc., and HomeAdvisor, a leading nationwide home services digital marketplace, today announced a new agreement to integrate HomeAdvisor’s True Cost Guide on realtor.com® listings. The addition provides homeowners and dreamers with valuable information about average national and local project costs and trends in popular home repair and improvement projects.

All cost data from HomeAdvisor’s True Cost Guide comes from data submitted by real homeowners to provide consumers with local project costs for over 300 types of home projects. Realtor.com® users also have access to HomeAdvisor’s nationwide network of pre-screened service professionals to help them complete their home projects. Service professionals in HomeAdvisor’s network undergo a criminal and financial background check prior to joining, and are customer-rated and reviewed.

“Home buyers and sellers rely on realtor.com® for the most comprehensive and accurate real estate listing information,” said Ray Picard, executive vice president of sales for Move. “Our new agreement with HomeAdvisor helps us put even more real estate-related information at their fingertips, no matter if they are looking for a home or want to improve the one they own.”

“Last year, over 10 million homeowners trusted HomeAdvisor to find a professional for their home projects,” said Adam Burrows, HomeAdvisor’s senior vice president of business and corporate development. “This agreement extends that trusted resource to realtor.com® users looking to gain the best returns on their biggest investments — their homes.”

To access local home improvement costs, get up to speed on renovation trends, or read reviews on home professionals, realtor.com® users can simply click the HomeAdvisor True Cost Guide widget on the right-hand side of any “recently sold” or “not for sale” home listing.

About Move, Inc. and realtor.com®
Move, Inc. operates the realtor.com® website and mobile experiences, which provide buyers, sellers and renters of homes with the information, tools and professional expertise they need to discover and create their perfect home. News Corp [NASDAQ: NWS, NWSA] [ASX: NWS, NWSLV] acquired Move in November 2014, and realtor.com® quickly established itself as the fastest growing online real estate service provider as measured by comScore.

As the official website of the National Association of REALTORS®, consumers know they can look to realtor.com® for the most comprehensive and accurate information anytime, anywhere. With relationships with nearly 800 multiple listing services (MLS), realtor.com® has more than 3 million for-sale listings, which account for more than 97 percent of all MLS-listed for-sale properties. More than 90 percent of the listings are updated every 15 minutes. Move’s network of websites provides consumers a wealth of innovative tools, including Doorsteps®, Moving.com™, SeniorHousingNetSM and others. Move supports real estate professionals by providing many services to grow their businesses in an increasing digital, on-demand world, including ListHub™, the nation’s leading listing syndicator and centralized intelligence platform for the real estate industry; TigerLead®; Top Producer® Systems; and FiveStreetSM and Reesio as well as many free services.

About HomeAdvisor
HomeAdvisor is a nationwide digital home services marketplace providing homeowners the tools and resources they need to complete their home repair, maintenance and improvement projects. HomeAdvisor’s marketplace makes it easy for homeowners to view average home project costs from coast to coast, using True Cost Guide, find and schedule local prescreened home professionals using ProFinder technology, and instantly book appointments using online booking or HomeAdvisor’s award-winning iOS and Android mobile apps. Homeowners can access HomeAdvisor’s resources for free. No membership or fees are required. HomeAdvisor is based in Golden, Colo., and is an operating business of IAC (NASDAQ: IAC).

SAN JOSE, Calif., — Realtor.com®, a leading provider of online real estate services operated by News Corp [Nasdaq: NWS, NWSA] subsidiary Move, Inc., today announced the launch of a five-episode digital video series created to provide first-time home buyers with practical and entertainingly delivered advice on the start-to-finish stages of the purchase cycle. The original series is part of a broad marketing campaign realtor.com® launched in May and comes at a time when millennial sentiment about buying a home has seen a significant increase.

The webisodes, which feature Emmy-nominated actress, producer and director Elizabeth Banks, and are directed by Emmy and Golden Globe-nominated actor, producer and director Fred Savage, will be promoted across a range of digital platforms and publishers including AOL, Curbed, Facebook, Google, HGTV, Hulu, Reddit and Yahoo, among others. All of the media will drive consumers back to realtor.com® to consume the entire series.

“We want everyone to think of realtor.com® as the best real-time resource to help them make the most informed real estate decisions,” said Andrew Strickman, Move’s head of brand and chief creative. “Our knowledge that many buyers turn to the Web first for help navigating one of life’s most important decisions, and the fact that many first-time buyers prefer to consume entertainment digitally, drove the development of the content. With a partner like Elizabeth to help us, there was no question this humorous, episodic approach to the home-buying process was the way to go.”

The digital video series, “The Home Buying Process in Plain English with Elizabeth Banks,” is the latest component of the biggest and boldest marketing initiative in realtor.com®’s nearly 20-year history.

Results of a recent realtor.com® survey1 released in June found that millennials are now more inclined to take the plunge into home ownership and this demographic is primed to gain market share in the second half of the year. Sixty five percent of millennials responding to the survey intend to buy a home within three months, up from 54 percent in January.

By mixing humor with solid advice for any buyer, particularly first-time buyers, Banks walks viewers through the key components of the process in each of the five episodes. In the first episode, called “Knowing When You’re Ready,” she recommends that potential buyers have a heart-to-heart with themselves about what they can actually afford: “Plan for the house you can afford now, not later. The most important thing for a first-time buyer is to live within your budget. Also, don’t be an idiot … But those are really the same thing.”

Episodes two through five – “Mortgage Lending 101”; “The Search”; “The Offer” and “Closing the Sale” – provide insight on the benefits of mortgage pre-approval, the do’s and don’ts of searching for a home, open house etiquette, what to expect when making an offer and the closing process.

Regarding why she thinks it is important to infuse humor into the home-buying process, Banks said: “For nearly everyone, buying a home is the biggest purchase they will ever make so there is that mixture of joy and anxiety. It’s important to use humor to get people through the process.”

Banks’ directorial debut, the musical comedy “Pitch Perfect 2,” premiered in May, with the best opening by a first-time director in history. She currently appears opposite John Cusack and Paul Dano in the Brian Wilson biopic “Love & Mercy.” Later this month, she will be seen in the Netflix Original Series reboot “Wet, Hot American Summer,” co-starring Bradley Cooper, Amy Poehler and Paul Rudd.

The digital series was created by Pereira & O’Dell New York, the company’s advertising agency, and directed by Savage, who is best known for his iconic role as Kevin Arnold in the 80’s hit TV series “The Wonder Years.” His directorial credits include the hit series “Modern Family,” “It’s Always Sunny in Philadelphia” and the critically acclaimed kids’ shows “Phil of the Future,” “Wizards of Waverly Place” and “Zeke and Luther.”

About Move, Inc. and realtor.com®
Move, Inc., a subsidiary of News Corp, is a leading provider of online real estate services. Move operates the realtor.com® website and mobile experiences, which connect people to the most important and accurate information they need to find their perfect home and to the REALTORS® whose expertise guides consumers through buying and selling. As the official website of the National Association of REALTORS®, realtor.com® empowers consumers to make smart home-buying, selling and renting decisions by leveraging its direct, real-time connections with more than 800 multiple listing services (MLS) via all types of computers, tablets and smartphones. In addition to the industry’s most comprehensive and accurate information, Move’s network of websites provides consumers a wealth of innovative tools, including Doorsteps®, Moving.com™, SeniorHousingNetSM and others. Move supports real estate agents and brokerages by providing many services to grow their businesses, including ListHub™, the nation’s leading listing syndicator and centralized intelligence platform for the real estate industry; TigerLead®; Top Producer® Systems; and FiveStreetSM; as well as many free services. Move is based in the heart of Silicon Valley – in San Jose, Calif.

SANTA CLARA, Calif., – Realtor.com®, a leading online real estate destination operated by News Corp [NASDAQ: NWS, NWSA]; [ASX: NWS, NWSLV] subsidiary Move, Inc., today released a new study that identifies the price premium to buy a home in a strong public school district, as well as the top 10 districts garnering the highest home prices and demand from buyers. School districts rising to the top are: Beverly Hills Unified in Los Angeles; Highland Park Independent School District in Dallas; Kenilworth School District No. 38 in Kenilworth, Ill.; Rocky River City School District in Cuyahoga, Ohio; Clear Creek Independent School District in Harris, Texas; and School Town Of Munster School District in Lake, Ind.

Realtor.com® compared homes located in school districts rated nine or 10 on the GreatSchools.org 10 point scale to homes situated in districts rated six or less. The analysis shows homes within the boundaries of the higher rated public school districts are, on average, 49 percent more expensive – at $400,000 – than the national median of $269,000 and 77 percent more expensive than schools located within the boundaries of the lower ranked districts with a median of $225,000.

“It’s common knowledge that buyers are often willing to pay a premium for a home in a strong school district,” said Javier Vivas, manager of economic research for realtor.com®. “Our analysis quantifies just how good it is to be a seller in these areas. On average, homes in top-rated districts attract a price premium of almost 50 percent and sell more than a week faster than those located in neighboring lower ranked school districts.”

Houses located in these areas, on average, also move eight days faster than homes in below average school districts and sell four days faster – at 58 days – than the national average of 62 days. Additionally, properties within the boundaries of higher-rated school districts are viewed 26 percent more, on average, than the average home on realtor.com® (an indicator of buyer demand) and 42 percent more than homes in areas with below average schools.

A look at the top school districts
Highest Price Premiums
In top-ranked Beverly Hills Unified School District, homes sell for 689 percent more at $3.8 million than other homes in Los Angeles County at $550,000. That’s 1.6 times the premium of homes located in the Santa Monica-Malibu Unified School District – rated 9 – that covers Santa Monica, Calif. and Malibu, Calif. and has a median list price of $2.5 million. Beverly Hills’s price premium is 3.9 times more than Culver City Unified School District in Culver City, Calif. that has a rating of 8 and a median list price of $975,000.

The district with the second highest home price premium is Highland Park Independent School District in Dallas where homes are 632 percent more expensive at $1.8 million than the median home in Dallas County at $277,000. Homes in Highland Park are 3.7 times and 4.4 times more expensive, respectively, than neighboring districts of Coppell Independent School District in Coppell, Texas – rated 9 – with a median of $470,000 and Dallas Independent School District in Dallas – rated 5 – with a median of $400,000, respectively.

Kenilworth School District No. 38 in Kenilworth, Ill., where homes carry a median sales price of $1.6 million, ranked third in the nation with its home price premium of 606 percent compared to the Cook County. That’s 2.1 times more than the neighboring district of Wilmette Public Schools District 39 in Wilmette, Ill., rated 10 by GreatSchools, with a median list price of $780,000, and 1.2 times more than Winnetka School District 36 in Winnetka, Ill., rated 10, with a median list price of $1.4 million. Winnetka School District 36 is also ranked fifth in the nation for its home price premium.

Rounding out the Top 10 school districts with the highest price premiums are: Indian Hill Exempted Village School District – Hamilton, Ohio; Winnetka School District 36 – Winnetka, Ill.; Manhattan Beach Unified School District – Los Angeles; Scarsdale Union Free School District – Westchester, N.Y.; Saddle River School District – Bergen, N.J.; San Marino Unified School District – Los Angeles; and Mariemont City School District – Hamilton, Ohio. See chart below for additional detail.

Highest Demand from Home Buyers
The district with the highest home buyer demand – as measured by realtor.com® listing views compared to the surrounding county – is Rocky River City School District in Cuyahoga, Ohio, rated 10, where listings within district boundaries receive 2.8 times more views than other areas in Cuyahoga County. Homes in the Rocky River District also receive 1.7 and 1.5 times more listing views, respectively, than Westlake City School District in Westlake, Ohio ranked 9 by GreatSchools and Lakewood City School District in Lakewood, Ohio with a GreatSchools rating of 6.

Vivas added, “While highly ranked school districts in these markets have pushed home prices higher than their surrounding areas, the majority of these high demand markets are relatively affordable when compared to the national median which is a big factor contributing to their popularity.”

The second most popular school district in the nation for home buyers is Clear Creek Independent School District in Harris, Texas. It garners 2.2 times the listing views of Harris County and 1.2 and 1.0 times as many views, respectively, as nearby districts of Pasadena in Pasadena, Texas (rated 5) and La Porte Independent School District in La Porte, Texas.

Coming in as the third most viewed school district for home buyers, School Town of Munster School District in Lake, Ind., has a GreatSchools rating of 9 and receives nearly 2.2 more listings views than other homes in the county. That’s 1.36 more views than neighboring district of School Town Of Highland Independent School District, rated 6, in Highland, Ind.

Completing the Top 10 list are Orange School District – New Haven, Conn.; Etiwanda Elementary School District – San Bernardino, Calif.; Longmeadow School District – Hampden, Mass.; Strongsville City School District – Cuyahoga, Ohio; Plymouth-Canton Community School – District Wayne, Mich.; and Regional School District 05 School – District New Haven, Conn. See chart below for additional detail.

About realtor.com®
Realtor.com® is the trusted resource for home buyers, sellers and dreamers, offering the most comprehensive database of for-sale properties, among competing national sites, and the information, tools and professional expertise to help people move confidently through every step of their home journey. As the official site of the National Association of REALTORS®, realtor.com® pioneered the world of digital real estate 20 years ago, and today helps make all things home simple, efficient and enjoyable. Realtor.com® is operated by News Corp [NASDAQ: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit realtor.com®.

SAN JOSE,- Realtor.com®, a leading destination of online real estate services operated by News Corp [NASDAQ: NWS, NWSA]; [ASX: NWS, NWSLV] subsidiary Move, Inc., today announced the launch of House TalkSM, a new online community created to help the millions of people who visit realtor.com® get answers to their home-related questions.

House Talk Home Page
House TalkSM is a resource for all things real estate. Whether you’re buying or selling a home, want to share a home improvement tip, or have a question about a rental lease – House TalkSM is the place for you. With a robust community of peers and professionals, participants are empowered to ask questions and give answers on real estate topics that matter to them. Users looking for fast answers can also search for key discussion topics to see if they have already been addressed by the group.

Conversation topics that are currently trending include: adjustable rate mortgages, bathroom remodels and kitchen cabinets. General community topics include: financing, buying and selling, home improvement, renting, talk of the town, unique homes and block party. Realtor.com® House TalkSM is available at: http://community.realtor.com/.

“Buying a home is a complicated process – one that only gets more complicated after you’ve closed and walk through the front door,” said Tapan Bhat, chief product officer for realtor.com®. “House Talk was born from a desire to alleviate uncertainty and give home buyers, sellers, renters and dreamers a forum to ask questions and share their own experiences. When you have someone ready to help, suddenly things seem more manageable.”

Anyone can join the conversation by simply creating a community account at community.realtor.com. Participants can then click the “start a discussion” button to ask a question or “reply” in an established thread. Users also have the option to “like” a discussion and upload photos or videos to their posts.

About Move, Inc. and realtor.com®
Move, Inc. operates the realtor.com® website and mobile experiences, which provide buyers, sellers and renters of homes with the information, tools and professional expertise they need to discover and create their perfect home. News Corp [NASDAQ: NWS, NWSA] [ASX: NWS, NWSLV] acquired Move in November 2014, and realtor.com® quickly established itself as the fastest growing online real estate service provider as measured by comScore.

SAN JOSE, Calif., — This year demonstrated a steady build-up of housing momentum –fueled by significant improvements in economic fundamentals, low mortgage rates, and compressed inventory – and is expected to carry the market into 2015 gains, according to the 2014 Housing Review issued today by realtor.com®, a leading provider of online real estate services operated by News Corp subsidiary Move, Inc. This review includes the Top 10 Real Estate Trends that defined the 2014 housing market, as well as the Most-Searched Neighborhoods of the year.

“Many of the gains that we recently predicted in the realtor.com® 2015 Housing Forecast are built on housing growth established in 2014. Overall, this year’s housing market showed steady advances over 2013 with significant improvement in key housing metrics, despite some remaining challenges,” said Jonathan Smoke, chief economist for realtor.com®. “Increases in job creation and gross domestic product (GDP) have had a significant impact on consumer confidence and home buyer demand. Paired with historically low interest rates, these factors kept properties moving quickly with median time on market at approximately 90 days. Unfortunately, the low number of homes for sale and stringent lending standards prevented a normal number of first time home buyers from closing on their first home in 2014.”

Realtor.com®’s Top 10 Real Estate Trends of 2014

Indicators demonstrating a stronger housing recovery:

Improving economic fundamentals: After an especially harsh winter earlier in the year, the economy picked up steam and produced a banner year for new jobs. The GDP this year was higher, and is still trending higher, resulting in stronger consumer confidence.
Historically low mortgage rates continued: Mortgage rates declined despite the end of quantitative easing this year. Global weakness, along with actions by the European Central Bank and similar central banks in Asia kept our Federal Reserve from raising the Federal Fund Rate, which kept mortgage rates low.
Deceleration of abnormal home price gains or return to normal price appreciation: After two years of abnormally high levels of home price appreciation in 2012 and 2013, price increases moderated throughout 2014. We are now experiencing increases in home prices consistent with long-term historical performance.
Decline of distressed sales: Foreclosures and short sales declined throughout the year, and while total home sales decreased year over year, normal (non-distressed) home sales increased over 2013 – due to the decline of the distressed sales market. Foreclosure inventories also fell substantially, and are forecasted to be down 30 percent year over year at the close of 2014.
End of the era of major investors active in purchases: Related to the drop in distressed sales opportunities, and against backdrop of higher home prices, portfolios of single-family homes for rent potentially reached their peak earlier this year. Large-scale investor purchase activity in the single-family market sector continued to decline, enabling more room for traditional first-time buyers.
Factors holding back recovery:

Tight credit standards and limited mortgage availability: Despite historically low rates, many households were prevented from capitalizing on mortgage access because of overlays lenders added to qualification standards in order to limit put-back risk. A tight spread between approved and declined FICO Scores shut out nearly half of the potential population this year. As a result, mortgage credit availability did not improve in 2014.

Tight supply of inventory: While absolute inventories increased as the year progressed, supply did not outpace demand. Monthly supply of new homes and existing homes remained beneath normal levels, and the age of inventory was down year over year.

Depressed levels of first-time buyers: The share of first-time buyers fell to the lowest level in over twenty years according to the National Association of Realtors. “But the first-time buyer share is showing signs of modest improvement by the year-end,” said Lawrence Yun, NAR Chief Economist. Federal policy actions, such as revised regulations for lenders and new low down-payment programs introduced in December are anticipated to have a positive impact in 2015.

Record levels of renters and ever-increasing rent prices: Continued declines in homeownership rates resulted in record numbers of renting households. Rent increases became an inflationary concern this year, and looking ahead, the pace of these increases are not slowing down.
Lack of recovery in homebuilding and low share of new home sales: Single-family starts barely increased in 2014 over 2013. New home sales remain far from normal share levels – typically near 16 percent, now instead around 9 percent. New home prices increased substantially again this year, revealing that higher priced product is limiting the demand.

“In 2014, we also saw some neighborhoods stand out from the pack, eliciting the most searches on realtor.com® for the entire year. The hyper-local markets on this list demonstrate the wonderful diversity of real estate demand across the country,” Smoke said. “Median list prices in these most-searched neighborhoods are near $400,000, well above national median of $214,000, as well as their respective metro medians. Homes in these communities are moving quickly as the aggregated median age for the group is almost half of the national median of 90 days.”

AN JOSE, Calif., — Nationally, the number of single-family homes for sale and their prices continue to rise – revealing a healthier real estate marketplace than a year ago and strong seller confidence, according to the April 2014 National Housing Trend Report released today by realtor.com®, the leader in providing consumers the most accurate U.S. residential listings online.* Move, Inc. (NASDAQ: MOVE) operates realtor.com®.

While last April’s list price gains were driven largely by dramatic shortages in for-sale inventory, April 2014 data shows sustained moderate home price gains in tandem with increasing inventories. The increase in inventory and asking price suggests sellers are much more optimistic than a year ago, likely the result of a strengthening national economy.

April home inventories are up a robust 14.2 percent compared with April 2013, according to realtor.com® data. Median list price rose by 6.5 percent to $207,500 compared to last year. Median age of inventory is 86 days – a 6.2 percent increase compared to a year ago.

The combination of median list price rising above $200,000 and a double-digit home inventory increase is an indication that the marketplace is becoming more balanced.

“Home prices and inventories are more in balance in most markets – a sign of improving housing health and optimism across much of the country,” said Steve Berkowitz, Move’s chief executive officer. “As sellers gain confidence, we also are watching spring sales data closely to gauge whether buying activity will be in line with these early indicators.”

Some reports showed a cooling market in the early months of 2014. Existing home sales, at 4.59 million units in March, were 7.5 percent below the pace of March 2013 according to The National Association of REALTORS® (NAR). However after nine months of stagnation, March pending home sales experienced their first gain – rising 3.4 percent, according to NAR’s Pending Home Sales Index.

While prices are rising, age of inventory is dropping faster than the previous year – by 15.7 percent in April – suggesting that properties are selling quickly in many markets and being replaced with new inventory at a quicker pace compared to last year.

Gains in new hot markets sprouting across the country are largely due to local economies’ increasing strength. New price leaders are Sacramento, California; Chicago; Austin and San Marcos, Texas; and Fort Pierce and Port St. Lucie, Florida. Recurring leaders are Houston; Las Vegas; Denver; Reno, Nevada; and Stockton, Lodi, Riverside, and San Bernardino, California.

While prices are continuing to rise, the pace of appreciation is slowing. This signals that housing is becoming more affordable for some, as rising equity comes more in line with asking prices.

Pumped by oil and gas economies, Texas and Colorado are exceptionally strong. Denver, Austin, Houston and Chicago are experiencing a supply-driven adjustment process similar to that which led to rapid house-price appreciation in California. These deficits aren’t as large, however, suggesting these markets are not likely to experience the kind of unsustainable appreciation California experienced during most of 2013. While sand states, such as California, Nevada and Arizona, continue to see supply-driven increases in prices in many markets, supply is beginning to catch up with demand.

How Data Is Collected

Realtor.com® regularly tracks real estate data and develops monthly reports featuring the number of listings, median age of inventory, and median list price across the U.S. and in specific markets, as well as provides year-over-year and month-over-month changes. These reports are the only ones pulled directly from the realtor.com® database, where 90 percent of listings are updated every 15 minutes from more than 800 MLSs. We regularly review and update historical data to provide the most accurate and comprehensive market-information available.

“Most accurate” claim(s) pertain to the accuracy of home listings, are based on comparison with other national listing portals, and are based on the greater frequency of listings updating on realtor.com®.

Supporting Resources

Read more about realtor.com®
Follow @realtordotcom on Twitter
Like realtor.com® on Facebook
About Move, Inc. and realtor.com®

Move, Inc. (NASDAQ:MOVE), the leading producer of online real estate services, operates realtor.com®, which connects people to the essential, accurate information needed to identify their perfect home and to the REALTORS® whose expertise guides consumers through buying and selling. As the official website of the National Association of REALTORS®, realtor.com® empowers consumers to make smart home buying, selling and renting decisions by leveraging its direct, real-time connections with more than 800 multiple listing services (MLS) via computers, tablets and smart phones. Realtor.com® is where home happens. Move, Inc. provides consumers a wealth of innovative tools and accurate information including Doorsteps®, SocialBios™, Moving.com™, SeniorHousingNet™, New Home Source and Relocation.com. Move, Inc. supports real estate agents and brokerages by providing many services to grow their businesses including ListHub™, the nation’s leading syndicator of real estate listings, TigerLead®, Top Producer® Systems, and FiveStreet as well as many free services. Move is based in the heart of Silicon Valley – San Jose, Calif.

SAN JOSE, Calif., — Realtor.com®, a leader in online real estate operated by Move, Inc. (NASDAQ: MOVE), today released its National Housing Trend Report for February 2014. As prices continue to rise, more sellers are putting their homes on the market than this time last year, a sign of confidence in the gains sustained through the winter and an indication of a strong early beginning to the spring home buying season.

Data from realtor.com® reveals the number of properties for sale in February rose 10.1 percent above February 2013 levels, to 1,744,032 units. The median list price at $199,000 increased 7.6 percent compared to the same month last year, and the median age of inventory increased 6.5 percent above year-ago figures, to 114 days.

“Overall these figures indicate a continued reinforcement of steady gains and market stabilization that we’ve been watching since late last summer,” said Steve Berkowitz, CEO of Move. “Seller confidence is the factor to watch as we head into the spring home buying season, and these are very encouraging indicators – not only are more homes coming onto the market, but typically we don’t see a rise in asking prices this early into the year. This is the market these sellers have been waiting for.”

Many have speculated that as homeowners gained equity across 2013, sellers otherwise prevented from making ‘life event’ associated housing changes, for various reasons such as births, children entering school, aging home owners downsizing to smaller residences and others, now are finally able to tap into the resources necessary to make those changes. The increase in inventory is even more noteworthy given the severe climate conditions that likely dampened a more typical month of listing activity across much of the nation. Despite these encouraging gains, however, inventories are still extremely low, and this remains a key factor to watch for long-term housing market health.

Widespread inventory increases: Nationally, inventories in February were 10.1 percent higher than they were one year ago. Ninety-nine of the 146 markets tracked by realtor.com® saw year-over-year gains in inventory in February; of those, 63 markets rose by ten percent or more. The added supply does not appear to be impacting price gains; just eight markets of those with inventory gains registered declines in median list price year over year, none greater than 6.1 percent. Broad inventory gains in more than half the markets in February are strong signs of a far healthier inventory than the previous year.
List prices rise in advance of the buying season: Despite the increase in inventory, the median list price jumped by more than 2 percent in February to $199,000, 7.6 percent higher than it was one year ago. These list price increases are another sign of seller confidence going into the selling season, as sellers price their homes in anticipation of market conditions in the coming months. While annual gains in list price were widespread, they also were fairly modest throughout much of the country; of the 121 markets that posted year-on-year gains in median list price in February, 84 markets rose less than 10 percent. These modest increases are positive signs of a more balanced market overall heading into the spring season.
Days on market grow slightly: Along with the notable uptick in inventory and median list price in February, median age of inventory gained 6.5 percent in February compared to year-ago levels, to 114 days. Ninety-three of the markets tracked by realtor.com® saw increases in time on market in February; of those, 21 markets increased time on market by 20 percent or more. Forty-five markets still registered year-over-year declines in age of inventory in February 2014, with eight markets dropping more than 10 percent compared to year-ago levels.
Local Market Highlights

In the California markets that became overheated last spring, inventories have bounced back. Stockton has twice as many homes listed on realtor.com® than they had a year ago. Fresno, Bakersfield, Riverside and Oakland all report year over year increases of 40 percent or more on the numbers of homes for sale.
Among the 10 largest markets still registering inventory declines from a year ago, Denver and Chicago are relatively strong markets whose median list prices are up on a year-over-year basis by 19.6 and 14.3 percent, respectively. The inventory deficits in these markets will likely continue to put significant upward pressure on housing prices going into the 2014 home buying season. However, these and a handful of other Colorado markets are unlikely to experience the kind of appreciation that occurred in California through much of last year, since the deficits are not as large.
Despite the encouraging signs of a spreading recovery across much of the country, weak markets still persist. List prices in 14 markets dropped by more than 1 percent in February, typically in older, industrialized areas such as Shreveport, Rochester and Omaha. These patterns underscore the multi-pronged nature of the housing recovery and its dependence on the strength of the local economies.
Realtor.com® regularly tracks real estate data and develops monthly reports featuring the number of listings, median age of inventory and median list price across the U.S. and in specific markets, as well as provides year-over-year and month-over-month changes. These reports are the only ones pulled directly from the realtor.com® database, where 90 percent of listings are updated every 15 minutes from more than 800 MLSs. We regularly review and update historical data in order to provide the most accurate and comprehensive market information available. For more information on Move, please visit www.move.com or one of its many online real estate properties including realtor.com®.

Supporting Resources

Read more about realtor.com®
Follow @realtordotcom on Twitter
Like realtor.com® on Facebook
ABOUT realtor.com®

Operated by Move, Inc., (NASDAQ: MOVE), realtor.com® helps connect people with the content, tools and expertise they need to find their perfect home. As the official website of the National Association of REALTORS®, realtor.com® empowers consumers to make the smartest decisions when it comes to finding a home by leveraging direct connections with more than 800 MLSs to deliver the most accurate and up-to-date listing information in neighborhoods across the country, and by making timely and meaningful connections between consumers and REALTORS®. Whether through desktop, mobile, or tablet versions, realtor.com® is where home happens.

ABOUT MOVE, INC.

Move, Inc. (NASDAQ:MOVE), the leader in online real estate, operates: realtor.com®, the official website of the National Association of REALTORS®; Move.com, a leading destination for new homes and rental listings, moving, home and garden, and home finance; ListHub™, the leading syndicator of real estate listings; Moving.com™; SeniorHousingNet; SocialBios; Doorsteps®; TigerLead® Top Producer® Systems and FiveStreet. Move, Inc. is based in San Jose, California.

This news is courtesy of www.realtor.com

SANTA CLARA, Calif., /PRNewswire/ — Realtor.com®, a leading online real estate destination operated by News Corp [NASDAQ: NWS, NWSA]; [ASX: NWS, NWSLV] subsidiary Move, Inc., today announced the launch of Property Tycoon, a new real estate listings game, that allows participants to test their market knowledge by selecting homes they think sold over asking price from a selection of homes.

“At realtor.com®, our goal is to help demystify the home-buying journey and Property Tycoon puts a fun spin on helping people understand how factors such as square footage and location impact home values,” said Nate Johnson, chief marketing officer for realtor.com®. “Whether you’re a real estate veteran or just starting out, Property Tycoon is an enjoyable way to test your real estate knowledge and learn more about different local markets.”

Players are given a game budget of $5 million to “purchase” as many properties as they think sold for more than their asking price from a group of 60 properties in a specific city. All featured properties are real realtor.com® listings sold in the last 60 to 90 days. Players can check their score using the Property Tycoon game results board and earn game badges for things like their placement in the competition.

Property Tycoon sweepstakes prizes are awarded after the end of the week, are based on random drawings, not based on game scores or results, and consist of a grand prize of $1,000 and five secondary prizes of $100 each.

To help players establish a better understanding of the real estate market, Property Tycoon also features economic insights that players can use to learn more about the selected city and get a leg up on the competition.

The Property Tycoon Fantasy Real Estate Sweepstakes Game I promotion starts 6/4/2017 and ends 6/10/2017. Open only to residents of the United States. Void where prohibited. No purchase necessary. Prizes to be awarded based on random drawings. Prizes: a Grand Prize of US $1,000 and five (5) Secondary Prizes of US $100 each. (Total value of all six (6) prizes is $1,500.) Important details apply: for eligibility, how to enter, how the Property Tycoon game experience works, how prizes are awarded, odds of winning and important dates, restrictions, requirements and other details, please see the Official Rules, at: http://www.realtor.com/property-tycoon/rules. There is no guarantee that additional Property Tycoon sweepstakes will be offered. Sponsor: realtor.com® division of Move Sales, Inc. 3315 Scott Blvd., Santa Clara, CA 95054.

For more information, please visit: http://www.realtor.com/property-tycoon.

About realtor.com®
Realtor.com® is the trusted resource for home buyers, sellers and dreamers, offering the most comprehensive source of for-sale properties, among competing national sites, and the information, tools and professional expertise to help people move confidently through every step of their home journey. It pioneered the world of digital real estate 20 years ago, and today helps make all things home simple, efficient and enjoyable. Realtor.com® is operated by News Corp [NASDAQ: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visit realtor.com®.

WASHINGTON, May 12, 2015 – Realtor.com®, a leading provider of online real estate services operated by News Corp [Nasdaq: NWS, NWSA] subsidiary Move, Inc., stepped out emphatically today with the introduction of a new graphic identity and national advertising campaign that position the brand as the best – and truest – provider of real estate information and services for buyers, sellers and renters of properties in the U.S.

The new work was previewed here this afternoon by Move CEO Ryan O’Hara in keynote remarks to more than 2,000 industry leaders and real estate professionals gathered for the 2015 Realtors® Legislative Meetings & Trade Expo.

The campaign represents the biggest and boldest marketing initiative in realtor.com®’s nearly 20-year history and unfolds against the backdrop of a marketplace that has been seismically altered by the recent acquisition of Move by News Corp and the merger of competitors Zillow and Trulia. At stake are online home listings and homes-for-sale ads exceeding $9 billion annually, according to a recent research report by Goldman, Sachs & Co. The campaign also coincides with the continued surge of realtor.com®’s business, which has seen record growth in web and mobile visitors and the brand’s recent ascension to the industry’s #2 position.

The new graphic identity will immediately become a centerpiece of realtor.com®’s communications on its website and mobile apps and in its advertising. The new look hinges on a two-tone logotype in which the “real” in realtor.com® is called out in bright red letters and the rest of the name is presented in black. It is intended to communicate that while competitors may feature conflicting or inaccurate information, realtor.com® stands for what is real in real estate by delivering fresh and accurate listings and connecting people with the data, tools and professional expertise they need to discover their perfect home.

“Serving buyers, sellers and renters of properties with the best information and tools anytime, anywhere and communicating the value brokers and agents provide as trusted guides through the process is our utmost priority,” said Ryan O’Hara, chief executive officer of Move. “This is what we mean by what’s real in real estate – and what sets us apart.”

It is a message that is at the heart of realtor.com®’s new advertising, which revolves around a series of 15- and 30-second TV spots and longer-form web videos featuring Elizabeth Banks, the Emmy-nominated actress, producer and director who is among Hollywood’s most sought after and versatile performers.

Ms. Banks’ directorial debut, the musical comedy Pitch Perfect 2, opens in theaters nationwide on Friday. This summer she will appear opposite John Cusack and Paul Dano in the Brian Wilson biographical feature film Love and Mercy, which is scheduled for release on June 5. Later this year, she will reprise her role as District 12 escort Effie Trinket in The Hunger Games: Mockingjay – Part 2, the next installment of the global blockbuster Hunger Games franchise, which to date has grossed in excess of $2 billion worldwide at the box office.

Regarding her interest in participating in the realtor.com® campaign, Ms. Banks said: “I’m a little house obsessed and looking for a new home right now, which made the opportunity to work on the new realtor.com® ad campaign a great fit. I love the accessibility of realtor.com®. My husband and I email each other photos of houses to look at and the other person can pull them right up – no matter where they are. The realtor.com® app literally allows you to take the home buying experience with you everywhere in your daily life.”

The new realtor.com® campaign – which is unified by the tagline “real estate in real time” – was created by Pereira & O’Dell New York, the company’s advertising agency, under the direction of Andrew Strickman, Move’s head of brand and chief creative. In it, Ms. Banks portrays a real estate-obsessed version of herself and delivers the message with humor, smarts, glamour and sass.

In the campaign’s first spot, called “Jim,” she observes the title character using the realtor.com® website to find his dream home. “You’re a real-time real estate renegade there, Jim Bob,” she says. “An arbiter of accuracy. A phenom of fresh listings. A master of mortgage rates. A ruler of refinancing. An emperor of escrow. Jim, let’s live in that house together.”

The TV ads debut May 18 and will run across major broadcast networks and cable channels, including CBS – where a :30 slot has been secured on the eagerly anticipated final episode of the Late Show with David Letterman on May 20 – HGTV, Bravo, TBS, Comedy Central and Spike, among others. The web videos featuring Ms. Banks will break later.

The new ads are intended to appeal to a wide consumer target – from millennials looking for small, low-priced homes for themselves and their pets to young couples looking for more space on tight budgets to families looking for bigger, longer-term homes.

For repeat buyers, the realtor.com® message will be delivered by integrated advertising positioning the brand as the best tool for homebuyers looking to make the smartest, most informed purchase decisions. For first-time buyers, who account for roughly one-third of U.S. home sales in a typical year, the approach will feature branded content presented in a so-called “edutainment” format positioning realtor.com® as a trusted ally demystifying the real estate process.

The TV spots and web videos were directed by Fred Savage, the Emmy- and Golden Globe-nominated actor, director and producer best known for his role as Kevin Arnold in the American TV series The Wonder Years. Mr. Savage’s directorial credits include episodes of the popular TV series Modern Family and It’s Always Sunny in Philadelphia and the critically acclaimed kids’ shows Phil of the Future, Wizards of Waverly Place and Zeke and Luther. He has also directed commercials for a number of leading consumer brands, including Farmers Insurance, the California Milk Board and Fitbit.

To view the realtor.com® ad spots, please visit:
Realtor.com – “Jim”
Realtor.com – “Constant Change”

About Move, Inc. and realtor.com®
Move, Inc., a subsidiary of News Corp, is a leading provider of online real estate services. Move operates the realtor.com® website and mobile experiences, which connect people to the most important and accurate information they need to find their perfect home and to the REALTORS® whose expertise guides consumers through buying and selling. As the official website of the National Association of REALTORS®, realtor.com® empowers consumers to make smart home buying, selling and renting decisions by leveraging its direct, real-time connections with more than 800 multiple listing services (MLS) via all types of computers, tablets and smartphones. In addition to the industry’s most comprehensive and accurate information, Move’s network of websites provides consumers a wealth of innovative tools, including Moving.com™, SeniorHousingNetSM and others. Move supports real estate agents and brokerages by providing many services to grow their businesses, including ListHub™, the nation’s leading listing syndicator and centralized intelligence platform for the real estate industry; TigerLead®; Top Producer® Systems; and FiveStreetSM; as well as many free services. Move is based in the heart of Silicon Valley – in San Jose, Calif.

SEATTLE, Oct. 18, 2018 — Rents declined nationwide on an annual basis for the first time in more than six years.
The median U.S. rent is $1,440, according to the September Zillow® Real Estate Market Reporti. That’s down 0.2 percent (which translates to $36 in annual rent) from last September, the first annual nationwide decrease since July 2012. Rent appreciation slowed for seven consecutive months before turning negative in September.

Rents decreased on an annual basis in more than half of the nation’s 35 largest markets. The biggest declines in rent were in Portland, Ore., where rents fell 2.7 percent, and Seattle, where they fell 2.2 percent. However, some markets are still seeing rising rents: Riverside, Calif., rents increased the most, up 3 percent from last September.

Home value appreciation also slowed in September, growing 7.6 percent from the year prior to a median of $220,100. In August, home values rose 7.8 percent annually.

Even as home value growth nationwide is slowing, six of the biggest U.S. housing markets saw double-digit appreciation, led by San Jose, where the median home value increased by 20.9 percent. Even that is slower appreciation than San Jose has seen in recent months – in June, home values there were up 25.4 percent annually. In contrast, Washington, D.C., homes saw the smallest appreciation, gaining 3.7 percent annually.

The slowdown in home value appreciation could benefit home shoppers, but it comes as mortgage rates have seen a sharp increase since the beginning of the year. The higher interest rates have eroded most of the benefits from slower home value growth as mortgage payments for the median-valued U.S. home are growing more than twice as fast as home valuesii.

“Today’s data are yet another signal that the housing market is easing toward a more normal, sustainable pace after the frenzy of the past three years,” said Zillow Senior Economist Aaron Terrazas. “With slowing rents and home value growth, searching for a new home should be somewhat less competitive than it was a year ago, giving renters and buyers a bit of breathing room. Rents remain high by historic standards, but September’s modest annual decline in rents should ease some of the pressure pushing higher-income renters to buy. And though home value appreciation is slowing, homes are more expensive than ever, making it difficult for first-time buyers to save for a down payment to break into the market. Housing plays a central role in most people’s finances, but for people already in their homes with fixed mortgages, there’s minimal spillover. For renters, slower rent growth is welcome news and will put more spending money in their already stretched pockets. The slowdown in new construction is more worrisome for the overall economy: Home building has been a net contributor to economic growth and employment, but rising costs mean that it could shift toward a drag in the future.”

The number of homes for sale declined 1.9 percent in September, which was the 44th consecutive month of falling inventory. But it was the smallest annual decrease since early 2015, another sign of the housing market cooling from its recent frenetic pace. About two-thirds of the nation’s largest markets are seeing inventory increase, including some recently hot markets like Portland, Ore., Seattle, and the San Francisco Bay Area.

Mortgage rates on Zillowiii ended the month at 4.5 percent, slightly lower than the high point of 4.56 percent reached a few days prior. At the end of September, mortgage rates were 75 percentage points higher than they were at the beginning of the year. Zillow’s real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgages site and reflect the most recent changes in the market.

Zillow is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the place they call home, and connecting them with great real estate professionals. In addition, Zillow operates an industry-leading economics and analytics bureau led by Zillow Group’s Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housing data and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price Expectations Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home Value Index over the next five years. Launched in 2006, Zillow is owned and operated by Zillow Group, Inc. (NASDAQ:Z and ZG), and headquartered in Seattle.

MOORESVILLE, N.C. – Today, Lowe’s underscored its commitment to advancing retail innovation as it introduced Lowe’s Innovation Labs and the first concept to come out of the lab, the Lowe’s Holoroom. Lowe’s created Lowe’s Innovation Labs to build new technology to solve common consumer frustrations while working alongside start-ups, universities, specialized professionals and other companies.