U.S. Department of Housing and Urban Development
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Recent News About U.S. Department of Housing and Urban Development
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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...
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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...
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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...
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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,...
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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...
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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...
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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...
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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...
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The U.S. Department of Housing and Urban Development (HUD) has announced a comprehensive review of the Moving to Work (MTW) Demonstration program. This initiative, which aims to enhance administrative productivity and resident benefits, will be examined by 14 agencies in an effort to expand services. The announcement was made by Acting Secretary Adrianne Todman after consultation with Congress and other stakeholders.
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As the housing industry gears up to celebrate New Homes Month in April, the focus is on the shifting preferences of homebuyers amidst ongoing affordability challenges.According to a report by the National Association of Home Builders (NAHB), there has been a noticeable trend towards smaller homes in response to the needs of prospective buyers. NAHB Chairman Carl Harris emphasized that "homeownership remains a goal for families who are eager to put down roots and have a place to call their own."The report revealed that a significant percentage of builders have been...
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The Urban Institute has recently published a report detailing the execution of a $100 million initiative aimed at reducing homelessness in San Francisco by 50% over five years. The report, titled "Evaluation of Tipping Point Community’s Chronic Homelessness Initiative," also explores the obstacles encountered and the successes achieved during this period.
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The Federal Housing Administration (FHA) has announced an increase in lending limits for the Title I Manufactured Home Loan Program. This measure is aimed at encouraging more lenders to participate in the program by aligning market forces with the FHA.
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Marcia Fudge, Secretary of the U.S. Department of Housing and Urban Development (HUD), has informed the Biden administration of her intention to resign from her position. In the wake of her departure, Deputy Secretary Adrianne Todman is expected to assume the role of acting secretary.
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Housing counseling agencies, which have received approval from the U.S. Department of Housing and Urban Development’s (HUD) Office of Housing Counseling, are now eligible to apply for $10 million in grant funding. The funds will be used by these organizations to assist prospective homebuyers, in underserved communities, throughout their homebuying journey.
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The U.S. Department of Housing and Urban Development (HUD) has announced that it will allocate over $128 million in funds to assist families in their journey towards economic independence. The 2023 Renewal and New Family Self Sufficiency (FSS) Program grants will be distributed among 835 Public Housing Agencies (PHAs) and Project Based Rental Assistance (PBRA) owners.
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The devastating wildfires that swept through Hawaii last year have resulted in the displacement of numerous local residents. In response to the escalating threat of homelessness, the U.S. Department of Housing and Urban Development (HUD) plans to counteract this risk by allocating $6.9 million in funds to the state.
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The U.S. Department of Housing and Urban Development (HUD) has pledged approximately $20 million to Native American communities in a bid to bolster infrastructure projects. This initiative forms part of HUD's commitment to uphold its responsibilities towards tribal Nations, respecting their sovereignty while enabling them to flourish.
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The U.S. Department of Health and Human Services (HHS) has announced revisions to its Foster Youth to Independence (FYI) program. The initiative, developed in collaboration with the Department of Housing and Urban Development (HUD), aims to offer rental assistance to 18- to 24-year-olds transitioning out of foster care who are at risk of homelessness.
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The Bureau of Environmental and Occupational Health in Wisconsin has been announced as the recipient of the 2023 Secretary’s Award for Excellence in Healthy Homes. This award, bestowed by the U.S. Department of Housing and Urban Development (HUD), acknowledges projects or programs that have innovatively employed best practices, policies, research, and community engagement to significantly reduce exposure to health risks, environmental hazards, and substandard housing, particularly in resource-limited communities.
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The U.S. Department of Housing and Urban Development (HUD) has announced a proposed rule aimed at enhancing economic and community development in underserved communities nationwide. The rule is intended to update regulations for the Community Development Block Grant (CDBG) and Indian Community Development Block Grant Programs (ICDBG). This initiative, marking the first significant regulatory update since 1995, is designed to expedite program requirements that support economic development in HUD-led housing rehabilitation, mixed-use projects, and infrastructure advancements.