Real Estate

FHFA: Home prices increase 0.3% in August

But the Middle Atlantic division declined 0.7%
Home prices rose in August, inching forward 0.3% from July according to the latest monthly House Price Index from the Federal Housing Finance Agency. According to the report, across the nine census divisions, the Mountain division continues to see the strongest appreciation growth.
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New home sales fall, highlighting Southeastern storms' impact

Sales of new single-family homes down 13.2% from last year
New home sales declined in September, according to the latest report from the Census Bureau and the Department of Housing and Urban Development. Zillow Senior Economist Aaron Terrazas said today’s disappointing new home sales numbers can be attributed to September storms in the Southeast and increasing homebuilding costs.
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Wells Fargo commits $1.6 billion to help revitalize Washington, D.C.

Pledges more mortgages, small business lending, community lending
Aiming to aid in the revitalization of the nation's capital, Wells Fargo announced Tuesday that it is committing more than $1.6 billion in lending and philanthropy in Washington, D.C., over five years. Through the program, Wells Fargo will triple its community giving and "concentrate resources on the biggest needs identified by community leaders," including affordable housing, small businesses, and job skills.
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This is how much purchasing power homebuyers lost this year

Rising interest rates and mortgage payments could turn potential buyers away
Home price growth and rate hikes have contributed to an uptick in monthly mortgage payments nationwide, leaving many prospective homebuyers speculating when it will be the right time to purchase a home. According to data collected from Redfin, purchasing power has dropped $29,750 in 2018.
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Zillow is now buying and selling homes in Denver

Company utilizing Zillow Instant Offers to purchase homes in market
Zillow flipped the real estate industry on its head when it announced plans to join the home selling business, launching “Zillow Instant Offers,” an instant gamechanger. Today the company announced in addition to serving Phoenix, Las Vegas and Atlanta markets, the platform will now be available in Denver.
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Trump administration unveils new rules for Opportunity Zones

Proposed regulations meant to provide clarity around new investment opportunities
Aiming to answer some of the lingering questions surrounding Opportunity Zones, the Department of the Treasury late last week unveiled a number of new rules and regulations designed to provide clarity to investors on the tax implications of investing in the newly designated areas. Here's a look at the new rules.
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6 Questions with 6 HUD Executives, Ep. 6: Ginnie Mae EVP and COO Michael Bright

Bright talks about the affordability crisis, risks to the housing market, what drives him and more
On this episode of 6 Questions with 6 HUD Executives, HousingWire Editor-in-Chief Jacob Gaffney sits down with Ginnie Mae Executive Vice President and COO Michael Bright to talk about affordable housing, the securities market and Ginnie Mae crossing the $2 trillion threshold.
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