The Federal Housing Finance Agency – under the direction of Mark Calabria – allocated $502.2 million to the National Housing Trust Fund and the Capital Magnet Fund, marking the GSE’s largest-ever contribution to the federally-managed entities.
The West reported a minor drop in month-over-month contract activity, while the other three major regions each saw pending home sales grow. Year-over-year pending home sales activity was up in all four regions.
While the increase in the overall homeownership rate is encouraging, there continues to be a significant racial homeownership gap in America that needs to be addressed.
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Panelists offered perspective on the lack of housing supply, mortgage credit access, and the racial homeownership gap.
The vast majority of metro areas saw price gains and very small increases in inventory in the final quarter of 2019