Lunch & Learn: Are appraisals the next big opportunity in mortgage fulfillment?

This Lunch & Learn for mortgage lenders will explore the evolution of the appraisal process as well as opportunities for innovation.

HousingWire Annual Virtual Summit

Sessions from HousingWire Annual 2021 are going to be virtually streamed on October 25. Register now for FREE to tune into what housing industry leaders had to say this year!

How Freddie Mac is addressing affordable housing challenges

Freddie Mac is focused on addressing limited access to credit, housing inequalities, creation and preservation of affordable housing supply and advancement of homeownership education.

How to increase minority homeownership?

Today’s HousingWire Daily features a roundtable discussion from HousingWire’s Lunch & Learn series that looks at “Unpacking the lender’s vital role in increasing minority homeownership.”

Real Estate

Multifamily market expected to grow in 2020

Following a record-setting 2019, the apartment market is predicted to see more new builds

According to a new report from RealPage, the U.S. apartment market is set to receive more new units in 2020 than it has in any of the last 30 years.

The multifamily market had a rollercoaster of a year in 2019.

Multifamily vacancies hit record lows, with occupancy levels reaching as high as 95.8%, according to RealPage. This is 40 basis points above figures in 2018.

The real estate tech company says it expects about 371,000 new apartment units to hit the market this year, which is a 50% increase compared to last year’s expected new builds.

With all of the new supply expected to hit the market this year, this means about 17% more apartment units will be added to the market.

“Developers have struggled to produce enough new housing to meet demand in recent years,” said Greg Willett, chief economist at RealPage. “However, the volume of apartments on the way in 2020 certainly could test the market’s ability to absorb a big block of additional units in a short time frame.”

The Mortgage Bankers Association predicted late in 2019 that multifamily originations are set to hit yet another all-time high in 2020.

Rent prices also grew by a total of 2.8% in 2019. Rent gains throughout the year hovered around 3%.

Most Popular Articles

FHFA to make desktop appraisals permanent

Desktop appraisals, a temporary flexibility implemented in March 2020 amid lockdowns and social distancing, will become permanent, the FHFA said today.

Oct 18, 2021 By

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Rocket Pro TPO redesigns pricing calculator for brokers

Rocket Pro TPO aims to help its broker partners grow their businesses. The new Pricing Calculator provides brokers with fast, reliable and accessible information that can help differentiate them from competitors. In the midst of this serious housing shortage, brokers need tools to help them provide top-notch service to homebuyers. 

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3d rendering of a row of luxury townhouses along a street

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