Housing News
Housing
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau have released new residential sales statistics for March 2024. According to the joint announcement, sales of new single‐family houses in March 2024 were at a seasonally adjusted annual rate of 693,000.The median sales price of new houses sold in March 2024 was $430,700, with the average sales price reported at $524,800. Additionally, the seasonally‐adjusted estimate of new houses for sale at the end of March was 477,000.These figures show positive trends in the housing...
Housing
HUD and Terner Housing Innovation Labs Advance Affordable Housing Initiatives
DETROIT – Last week, the U.S. Department of Housing and Urban Development (HUD) and Terner Labs collaborated in Detroit, Michigan, to host an event focusing on advancing affordable housing initiatives. The event brought together various leaders, experts, and technologists for the Housing & Technology Symposium series.Solomon Greene, the Principal Deputy Assistant Secretary for Policy Development and Research at HUD, highlighted the innovative approach being taken, stating, "These are a first-of-its-kind innovations that leverage both HUD funding and modular housing...
Housing
In Case You Missed It: HUD Celebrates Earth Day Planting with Local Children
On Monday, April 22, 2024, U.S. Department of Housing and Urban Development (HUD) Acting Secretary Adrianne Todman, along with local children from HUD’s neighboring daycare, Children’s House, participated in an annual planting event in honor of Earth Week."We are excited to continue an annual tradition to have children come and participate in an activity that contributes to the environment and teaches early the importance of taking care of our planet," expressed HUD Acting Secretary Adrianne Todman.Todman emphasized the significance of Earth Day, stating, “Earth Day is...
Housing
HUD Announces Final Rule that will Protect Communities from Flooding Events and Rising Insurance Costs
HUD Acting Secretary Adrianne Todman expressed the importance of the newly announced Federal Flood Risk Management Standard (FFRMS) final rule, stating, “Across the country, I’ve seen firsthand the devastating impact flooding disasters have had on families and communities – especially those least equipped to handle the emotional and financial burden of recovery. HUD’s announcement today lessens the burden these disasters have on people.”Marion McFadden, Principal Deputy Assistant Secretary for Community Planning and Development, emphasized the significance of the rule,...
Housing
HUD Officials Highlight Climate Resilience Funding Opportunities in Puerto Rico and US Virgin Islands
In a recent bilingual roundtable event hosted by the U.S. Department of Housing and Urban Development (HUD) in Puerto Rico, over 150 stakeholders gathered to learn about the Green and Resilient Retrofit Program (GRRP) and other federal funding sources aimed at enhancing energy efficiency and climate resilience in affordable housing.During the event, HUD officials shared insights on the GRRP and various funding opportunities available under the Inflation Reduction Act to support upgrades and renovations for properties to withstand extreme weather events caused by climate...
Housing
Ginnie Mae President Alanna McCargo Announces Resignation
WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) announced on April 19, 2024, that Alanna McCargo, President of the Government National Mortgage Association (Ginnie Mae), will resign, effective May 3, 2024.Alanna McCargo, who has been serving in the Biden-Harris Administration since January 2021, made history by becoming the first woman and woman of color at the helm of the government corporation, with bipartisan support by the U.S. Senate.Expressing gratitude for McCargo's service and leadership, HUD Acting Secretary Adrianne Todman stated, "I...
Housing
HUD Updates Multifamily Insurance Deductibles to Address Rising Costs of Wind and Storm Coverage
Apr 18, 2024WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) has announced updates to its policies for wind and named storm insurance coverage required for multifamily properties financed with an FHA-insured mortgage. This move comes as part of HUD’s efforts to tackle the escalating insurance costs faced by property owners due to the increasing frequency and severity of storms attributed to climate change.HUD Acting Secretary Adrianne Todman emphasized the importance of these revisions, stating, "The increased frequency and intensity of extreme...
Housing
HUD Allocates Nearly $13 Million to Assist Youth Aging out of Foster Care
HUD Northwest Regional Administrator Andrew Lofton announced in Seattle that the U.S. Department of Housing and Urban Development (HUD) will provide $12,746,450 to public housing authorities through HUD’s Foster Youth to Independence (FYI) Initiative. The funding aims to help young adults transitioning out of foster care access housing assistance to prevent homelessness.Acting HUD Secretary Adrianne Todman emphasized the importance of supporting at-risk youth, stating, “Youth aging out of foster care are particularly vulnerable to homelessness...Every young person...
Housing
Realtors group president 'applauds FHA for increasing large multifamily loans’ threshold for first time since 2014'
The Federal Housing Administration (FHA) said the recent increase in the dollar amount threshold for large multifamily loans will simplify the process of assessing risks for insurers of multifamily housing developments.
Housing
Fudge: 'For this country to truly succeed, all Americans must have access to opportunity'
The U.S. Department of Housing and Urban Development announced the Biden-Harris administration aims to save Native American homebuyers an average of $500 in the first year on mortgage payments through fee reductions.
Housing
Fudge: 'The crisis of homelessness has an outsized impact on our LGBTQI+ youth'
The U.S. Department of Housing and Urban Development kicked off an initiative to combat LGBTQI+ youth homelessness.
Housing
Fudge: 'Access to educational opportunities and other resources have lasting impacts on the lives of families with children'
The Public Housing Authorities will receive $25 million from the U.S. Department of Housing and Urban Development Housing Choice Voucher Mobility Services.
Housing
Fudge: 'Owning a home provides a path to the American dream'
The Interagency Task Force on Property Appraisal and Valuation Equity recently released a set of actions to carry out the PAVE Action Plan, which guarantees every American who buys a home has the same opportunities to create generational wealth through home ownership.
Housing
Fudge: 'HUD is proud to launch our housing counseling campaign'
The U.S. Department of Housing and Urban Development commemorated National Homeownership Month with the launch of a housing counseling awareness campaign.
Housing
Greene: 'I am honored to lead the U.S. delegation to the 2023 UN-Habitat Assembly in Nairobi'
Solomon Greene, an assistant secretary at the U.S. Department of Housing and Urban Development, was chosen to lead the U.S. delegation to an international meeting to address urban planning.
Housing
Fudge: 'Everyone in this country deserves to be safe and healthy in their homes'
The U.S. Department of Housing and Urban Development is observing June as National Healthy Homes Month with activities that focus on the link between housing quality and residents' health.
Housing
Fudge: Stability Vouchers 'help thousands of people move off the streets into permanent housing'
The Department of Housing and Urban Development is providing $45 million in assistance to public-housing authorities and collaborating organizations to fight homelessness in their communities.
Housing
Fudge: 'Programs like Jobs Plus help individuals and families to reach their goals'
Public-housing authorities will be receiving $22.5 million in federal funding to help residents access the services offered in a program designed to strengthen renters' financial foundations.
Housing
Fudge: 'We’re proud to invest in states to create more affordable housing'
The U.S. Department of Housing and Urban Development recently announced the allocation of $382 million through the Housing Trust Fund to aid states in the production of affordable housing.
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