MBA Advocacy Update
President Trump announced he will nominate Dana Wade to replace Brian Montgomery as FHA Commissioner. At the same time, MBA submitted a letter to Senate leadership in support of Montgomery’s nomination to be the next Deputy Secretary of HUD.
January Existing Home Sales Down 1.3% But Longer-Term Outlook Promising
Existing home sales declined in January, continuing what the National Association of Realtors described as “a fluctuating pattern” of monthly increases and declines.”
MBA Chart of the Week: Homeownership Rate by Age
The national homeownership rate increased to 65.1% in the final three months of 2019, the first time above 65 percent in seven years. Since bottoming out at 62.9 percent in second quarter 2016, the number of owner-occupied homes has increased by 4.5 million.
