Market Trends

The Investment, funded by the U.S. Department of Housing and Urban Development Office of Multifamily Housing, is a $930 million Rental Assistance Demonstration offering major home improvements and updates to 2,035 rental homes under the umbrella of the New York City Housing Authority.

While a small fraction of RON transactions may involve fraudulent activity, Brooke Adams of Stavvy discusses the advanced tools at the disposal of the industry to stay ahead of bad actors.

As the housing market cools somewhat, a new study from Rent. examines landlord sentiment that may grant renters more leverage in negotiating their lease renewals.

Selma Hepp, Chief Economist for CoreLogic, said, “Elevated mortgage rates and high home prices are putting pressure on potential buyers. These dynamics are cooling recent month-over-month home price growth.”

“Mortgage credit availability was essentially unchanged in June, remaining close to the lowest level since early 2013, as the industry continues to operate at reduced capacity,” said Joel Kan, Mortgage Bankers Association VP and Deputy Chief Economist.

"There is no doubt that the housing market has reignited from a home price perspective," said Black Knight VP of Enterprise Research Andy Walden. "Firming prices have now fully erased the pullback we tracked through the last half of 2022 and lifted the seasonally adjusted Black Knight HPI to a new record high in May."

According to STRATMOR, a mortgage consulting firm, there is no version of the future that does not include AI. In their words, “that genie is out the bottle, and the only thing that will determine whether it will be good or ill will be the wishes we make.”

According to HouseCanary's latest Market Pulse report, net new listing volume continues to trail behind contract volume, putting further downward pressure on housing inventory and dampening market activity nationwide.

While millennials prevail as the largest generation in U.S. history, a new study from First American revealed some 51% of them are homeowners. At age 41, the millennial homeownership rate is 62%, closely following Gen X at 64%, significantly narrowing the homeownership gap over the past decade.

The Department has initiated public housing inspections under the National Standards for the Physical Inspection of Real Estate rule to address substandard rental properties and promote compliance with health and safety standards.