2021 – Page 32

ATTOM Unveils Innovative Cloud-Based Platform Offering Instant and Direct Access to Its Data

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Simplify Data Management, Improve Data Quality and Drive Business Value with ATTOM Cloud; Start with a 30-day FREE Trial ATTOM, curator of the nation’s premier property database, announced the launch of ATTOM Cloud, a new cloud-based platform that provides immediate access to high-quality curated property data. ATTOM Cloud allows customers to focus more time on extracting value from property data and less on complex data management processes and infrastructure. Getting started with ATTOM Cloud takes just minutes. Once implemented, ATTOM Cloud takes care of all data updates, so customers can stay focused on their product or analytic projects. Built-in flexibility provides for quick iteration and customer feedback, helping customers to drive additional revenue and lower costs. Start your free trial of ATTOM Cloud “Unlocking the power of data requires accessing it quickly and managing it well, which is becoming increasingly difficult,” said chief technology officer Todd Teta with ATTOM. “In our space, many competitors promise immediate and consistent access to property data, but we’re doing more than that – we’re actually delivering it. We developed ATTOM Cloud to give our customers immediate access to data, streamed directly from our data warehouse in a platform that can grow with their needs.” ATTOM customers have the option of registering for a 30-day, limited trial of ATTOM Cloud, which includes five pre-selected geographies. The registration process takes less than five minutes to complete, compared to a process that can take weeks or days with competitors – an issue ATTOM recognized and quickly addressed with the development and release of ATTOM Cloud. Once connected, ATTOM continuously administers and updates the data for customers, eliminating any need for data loading, updating, or management on the customers’ part. Click here to view ATTOM’s Table of Data Elements ATTOM Cloud complements traditional delivery models, such as flat files and APIs that require data mapping or software integration in order to use. It supports standard interfaces for connecting to data, so existing tools and technologies can be used. ATTOM Cloud also includes robust data discovery features and a support ecosystem that helps customers find, evaluate and use the data. “ATTOM Cloud is the extensible platform of choice on which to base your new real estate data project as it can be tailored to meet your needs, whether your application is supporting a website or serving as the hub of a data science project,” said chief data officer Richard Sawicky with ATTOM. “The fundamental principle of our design is to ensure that customers have access to the most current and accurate data available.” Elevate and Evolve with ATTOM Cloud ATTOM Cloud delivers large volumes of property data, that is immediate, comprehensive, focused, simple and convenient. ATTOM Cloud provides complete transparency to property data and will shape the future of data consumption. Learn more about how ATTOM Cloud can benefit your business, register for the ATTOM Cloud Webinar About ATTOM ATTOM provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 20TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, and more. Also, introducing our latest solution, that offers immediate access and streamlines data management – ATTOM Cloud.

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A new resource from Dwellsy highlights the cities that best suit renters’ needs Dwellsy published its 2021 ranking of best cities in America for renters. Taking into consideration a number of factors such as rent prices, availability, employment, schools and health we ranked over 350 metropolitan areas on their attractiveness for renters. At Dwellsy, we know there is a city and a great rental home out there for every renter, but we wanted to find out which cities were the most renter-friendly of all. In order to start creating our list, we crunched data sets including rent prices, healthcare availability, employment/unemployment and many more. Then, we also looked at several different qualitative factors, like local arts and food scenes. This combination of different factors allowed us to consider cities holistically, much like a renter looking for a place might do. “Most lists of best places to live in America are written from the perspective of home buyers; we wanted to create a ranking that takes into consideration the unique preferences and needs of renters.” Jonas Bordo, CEO and Co-Founder of Dwellsy. By weighing all these variables, we are proud to present a list of cities that scored well overall: “The Top Cities for Renters in 2021.” With high-quality schools, affordable rentals, and low unemployment rates, it is no surprise that the Midwest stood out as one of the best regions in America to be a renter. In fact, all of our top three cities are located in this region: Fargo, ND, Sioux Falls, SD, and Lincoln, Nebraska. With its three universities and thriving cultural scene, Fargo came in as our top city for renters in America. Fargo is often cited as one of the best job markets and one of the best cities for starting a career. Lincoln, number two on our list, has a remarkably low unemployment rate at only 3.3% and many career opportunities in healthcare. At number three, Sioux Falls stands out as one of the healthiest cities in America and even has a thriving local poetry scene. For a closer look at the top cities and why each made the list, take a look at the Top 10 Small Cities for Renters. Free Listing with DwellsyDwellsy’s primary goal is to make renting easier on both renters and property managers. We believe that people should be able to see all available home rentals in one central place, where they can narrow down their search results to homes that are specific to their wants and needs. It is important to our mission that landlords and property owners can list on our site for free because it allows renters to avoid the hassle of navigating through irrelevant paid listings and it allows every landlord to place every listing on Dwellsy. Our Partners Are Key to Our SuccessPartnerships with industry property management software companies such as Buildium, AppFolio, Entrata and Yardi, have enabled Dwellsy onboard verifiable direct feeds quickly and easily. Additionally, multifamily leaders like Gables, Bozzuto, Equity, Highmark and many others have helped to make our platform the largest in the nation, with over 10 million listings available nationwide. The more we continue to grow and expand, the better we are able to serve renter and property owners, increasing liquidity in what has historically been a highly fragmented market. About DwellsyDwellsy is a home rental platform where renters can find houses, townhomes, condos, and apartments—for rent. Dwellsy is different from other sites because we don’t charge any listing fees, lease fees, nor lead fees. None. Dwellsy offers the benefit of organic search results that put the renter front and center. Dwellsy is built for Renters. To find your next apartment or house for rent visit https://dwellsy.com.

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Multifamily Borrowers Now Eligible for Forbearance through September 30, 2021 To continue to support renters in multifamily units and Fannie Mae-financed multifamily property owners experiencing financial difficulties as COVID-19 persists, Fannie Mae (OTCQB: FNMA) announced the extension of its multifamily COVID-19 forbearance program through September 30, 2021. The program, which requires landlords to suspend all evictions for renters unable to pay rent during the forbearance period, was formerly set to expire on June 30, 2021. For any Fannie Mae-financed multifamily properties with a new or modified forbearance plan as the result of a financial hardship due to COVID-19, the property owner must inform tenants in writing about tenant protections available during the property owner’s forbearance and repayment periods. In addition, the borrower is required to provide tenant protections, which include: Allow the tenant flexibility to repay back rent over time and not in a lump sum; Not charge the tenant late fees or penalties for non-payment of rent; and Give the tenant at least a 30-day notice to vacate. “Fannie Mae remains committed to supporting renters and multifamily property owners as COVID-19 continues to financially impact many people in the United States,” said Michele Evans, Executive Vice President and Head of Multifamily. “By extending the forbearance program for Fannie Mae multifamily borrowers, we are also extending essential protections and flexibilities for renters, which will help keep people in their apartments as the economy continues to improve.” Here to HelpSince March 2020, Fannie Mae has taken a number of actions to help renters facing financial hardship due to COVID-19, including extending eviction protections to multifamily renters when the property owner received a forbearance and announcing a new Renters Resource Finder tool. These and the many other resources, including KnowYourOptions.com, that we make available are part of our ongoing Here to Help education effort, aimed at helping homeowners and renters impacted by COVID-19 understand the options available to them. For renters, KnowYourOptions.com provides straightforward information to understand rent relief and assistance options and to understand the available tenant protections. Renters in a multifamily property financed by Fannie Mae also have access to the Disaster Response Network, which offers free assistance from U.S. Department of Housing and Urban Development-certified housing counselors who can help navigate financial challenges caused by COVID-19, such as information and guidance on accessing federal and state housing assistance, unemployment benefits, nutritional assistance, and other available programs. The Disaster Response Network can be accessed from the Renters Resource Finder on KnowYourOptions.com, or by calling 877-833-1746. About Fannie MaeFannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of people in America. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit:fanniemae.com | Twitter | Facebook | LinkedIn | Instagram | YouTube | Blog

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CoreLogic Home Price Index recorded a 13% annual gain, the highest since February 2006 Limited inventories discourage potential sellers, further exacerbating inventory and affordability challenges CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for April 2021. Sparse inventory and high demand continues to place upward pressure on home prices, creating challenges across generations as buyer preferences shift. Younger millennials continue to enter the market in droves while older millennials look to upgrade and upsize their homes. In a recent CoreLogic consumer survey, the need for more space was noted as the top driver (64%) for demand among these cohorts. The increased competition among buyers may cause a ripple effect and create affordability challenges for baby boomers interested in downsizing or relocating. Notably, 72% of this cohort list the desire for a new location as the main reason for wanting to purchase a new home. However, in response to rising prices, baby boomers — who own 54% of the nation’s homes — may wait to sell, creating further inventory pressures for older millennials seeking move up-purchases. “As older homeowners become more comfortable with listing their homes, they are faced with the reality that if they sell, they may get a smaller home for the same price as what they already have,” said Frank Martell, president and CEO of CoreLogic. “Rather than decreasing their financial burden and cashing out equity to support their retirement, baby boomers may choose to stay put — which could exacerbate inventory challenges.” Top Takeaways: Nationally, home prices increased 13% in April 2021, compared with April 2020. On a month-over-month basis, home prices increased by 2.1% compared to March 2021. Appreciation of detached properties (14.7%) was more than double that of attached properties (7.2%) in April as prospective buyers continue to seek out more space. Home prices are projected to increase 2.8% by April 2022, as affordability and supply challenges drive potential buyers out of the market, causing a slowdown in home price growth. In April, home prices rose sharply in the west with Coeur d’Alene, Idaho, experiencing the highest year-over-year increase at 31.4%. Boise City, Idaho, ranked second with a year-over-year increase of 28.6%. At the state level, Idaho and Arizona continued to have the strongest price growth at 27.2% and 20.4%, respectively. South Dakota also had a 19.3% year-over-year increase as new home buyers seek out more affordable options, space and low property taxes. “Baby boomers are staying in their homes longer, slowing the pace with which existing homes come on the for-sale market,” said Dr. Frank Nothaft, chief economist at CoreLogic. “Owner occupants today have been in their homes for a median of 13 years, about 50% longer than the previous generation.” About CoreLogic CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, buy and protect their homes. For more information, please visit www.corelogic.com.

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–Purchases of high-end homes jumped 26% in the three months ending April 30, versus a 15% increase for mid-priced homes –Prices of high-end homes also saw a relatively big climb, up 14%, versus a 10% rise for affordable homes –Homes in every price tier are selling in less than 4 weeks–significantly faster than a year ago Purchases of high-end homes in the U.S. jumped 26% year over year during the three months ending April 30, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. That’s compared to the 17.8% gain in purchases of affordable homes and the 14.8% increase in purchases of mid-priced homes. This comes as wealthy Americans have reaped the benefits of a strong stock market, swelling savings accounts and remote work—and as a relative abundance of high-end homes have hit the market, enabling purchases in that segment of the market to flourish. “So far, the economic recovery from the pandemic has disproportionately benefited Americans with bigger bank accounts,” said Redfin Chief Economist Daryl Fairweather. “This means a lot of the demand for homes is coming from folks who are well-off, while many lower-income Americans sit on the sidelines because they’ve been priced out of the housing market due to surging prices.” Redfin’s analysis divides U.S. residential properties into three equal-sized buckets—high-end, mid-priced and affordable—based on Redfin Estimates of the homes’ market values. It’s important to note that year-over-year changes in Redfin’s report may be somewhat exaggerated because pandemic stay-at-home orders halted homebuying and selling around this time last year. The surge in purchases of expensive properties was led by San Francisco, which saw an 82.4% jump in high-end home sales during the three months ending April 30—the biggest gain among the 50 most populous U.S. metropolitan areas. Next came Oakland, CA (+71.8%), Miami (+70.4%), San Jose, CA (+66%) and Las Vegas (+64.4%). “Growth in high-end-home sales is currently skewed toward some of the most expensive markets in the country—like the Bay Area and parts of Florida—which is fueling an uptick in high-end home prices,” Fairweather said. “The high-end sales growth in Florida is being fueled by an influx of affluent out-of-staters, while the gain in the Bay Area is more of a recovery from the massive decline in sales the region experienced at the start of the pandemic when scores of Americans left big cities. Folks may be starting to feel more comfortable putting down roots in major hubs now that they’re gaining clarity on post-pandemic life.“ Prices of High-End Homes Are Growing Faster Than Prices of Affordable and Mid-Priced HomesPrices of high-end homes in the U.S. rose a record 14.3% year over year during the three months ending April 30. By comparison, prices of mid-priced homes climbed a record 12.4% and prices of affordable homes increased 10.2%. “Record” changes in this context refers to Redfin’s records, which date back to 2013. “As the economic recovery starts to touch more middle-class Americans, we expect to see price growth accelerate for affordable and mid-priced homes,” said Fairweather. High-end home prices rose in all of the 50 most populous U.S. metropolitan areas. Austin, TX led the way with a 24.1% jump, followed by San Diego, CA (+18%), Miami (+17.7%), West Palm Beach, FL (17.6%) and Phoenix (+17.2%). Many of the metros at the top of this list are popular destinations for people who have left big cities in search of relative affordability, space and/or sunshine during the pandemic. Phoenix was the number-one destination for Redfin.com users looking to move to a different area in April, with Austin and Miami not far behind. That’s based on net inflow—a measure of how many more Redfin.com home searchers looked to move into a metro than leave. “In the high-end market, we’re not only seeing multiple offers—we’re seeing buyers waiving appraisal and inspection contingencies, which doesn’t normally happen,” said Vincent Shook, a Redfin real estate agent in Phoenix. “The biggest driver is the influx of people from California. Still, competition remains toughest for buyers of affordable and mid-priced homes. Some buyers with more modest budgets are coming to me and saying, ‘I want a four-bedroom home and here’s my maximum price.’ I’ve had conversations where I’ve had to be brutally honest and tell them that home literally does not exist anymore. It existed eight months ago when they started looking, but they wanted to wait in hopes that prices would come down. Prices didn’t come down, and now they’re priced out of the market.” The Number of High-End Homes Hitting the Market is on the RiseListings of high-end homes rose 19.3% year over year during the three months ending April 30—outpacing a 13.9% gain in affordable listings and a 9.1% increase in mid-priced listings. Homes of Every Price Are Flying Off the ShelvesThe typical high-end home that was for sale during the three months ending April 30 spent 26 days on the market—23 fewer days than the same period in 2020. Affordable homes spent 24 days on the market (12 fewer days than a year earlier) and mid-priced homes spent 20 days on the market (18 fewer days than a year earlier). To read the full report, including additional charts and metro-level data, please visit: https://www.redfin.com/news/real-estate-price-tier-report-april-2021 About Redfin Redfin (www.redfin.com) is a technology-powered real estate broker, instant home-buyer (iBuyer), lender, title insurer, and renovations company. We sell homes for more money and charge half the fee. We also run the country’s #1 real-estate brokerage site. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can take an instant cash offer from Redfin or have our renovations crew fix up their home to sell for top dollar. Since launching in 2006, we’ve saved customers more than $1 billion in commissions. We serve more than 95 markets across the U.S. and Canada and employ over 4,100 people.

Median Prices Increase Annually During First Quarter of 2021 in 75 Percent of Opportunity Zones

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Median Values Again Rise At Least 10 Percent in Almost Two-Thirds of Zones ATTOM Data Solutions, curator of the nation’s premier property database, released its first-quarter 2021 special report analyzing qualified low-income Opportunity Zones established by Congress in the Tax Cuts and Jobs Act of 2017. In this report, ATTOM looked at 4,579 zones around the United States with sufficient sales data to analyze, meaning they had at least five home sales in the first quarter of 2021. The report found that median home prices increased from the first quarter of 2020 to thefirst quarter of 2021 in 75 percent of Opportunity Zones with sufficient data to analyze and rose by at least 10 percent in close to two-thirds of them. Those percentages roughly tracked trends in areas of the U.S. outside of Opportunity Zones, continuing patterns from the fourth quarter of last year. Prices in Opportunity Zones continued to lag far behind the national average in the first quarter of 2021. About 43 percent of zones with enough data still had median prices of less than $150,000. But that was down from 50 percent a year earlier as prices inside some of the nation’s poorest communities kept surging ahead with the broader market, even as the 2020 Coronavirus pandemic caused major disruptions in the broader U.S. economy. The pandemic’s impact continued, in the early months of 2021, to hit hardest in lower-income communities that comprise most of the zones targeted for tax breaks designed to spur economic redevelopment. But housing markets inside Opportunity Zones showed no major signs of cooling off as prices there again rode along with a nationwide boom now in its 10th year. Opportunity Zones are defined in the Tax Act legislation as census tracts in or along side low-income neighborhoods that meet various criteria for redevelopment in all 50 states, the District of Columbia and U.S. territories. Census tracts, as defined by the U.S. Census Bureau, cover areas with 1,200 to 8,000 residents, with an average of about 4,000 people. “Some of the country’s poorest neighborhoods continued riding the long national boom in home prices during the first quarter of the year, reaping increases that pretty much matched those in more-affluent areas. Those ongoing gains emerged in the latest price data showing values in designated Opportunity Zones rising at about the same pace, or even more, than in other communities,” said Todd Teta, chief product officer with ATTOM Data Solutions. “Home values inside the zones remain quite low compared to the rest of the U.S. But they are far from immune from the boom. That shows continued interest among home buyers in marginal areas and continues to bode well for the redevelopment that Opportunity Zone tax breaks are designed to promote.” High-level findings from the report include: Median prices of single-family houses and condominiums rose from the first quarter of 2020 to the first quarter of 2021 in 2,771 (75 percent) of Opportunity Zones with sufficient data to analyze and increased in 1,987 (54 percent) of the zones from the fourth quarter of last year to the first quarter of this year. By comparison, median prices rose annually in 78 percent of census tracts outside of Opportunity Zones and quarterly in 55 percent of them. (Of the 4,579 Opportunity Zones included in the report, 3,687 had enough data to generate usable median prices in the first quarters of both 2020 and 2021; 3,692 had enough data to make comparisons between the fourth quarter of 2020 and the first quarter of 2021). Measured year over year, median home prices rose at least 10 percent in the first quarter of 2021 in 2,249 (61 percent) of Opportunity Zones with sufficient data to analyze. Prices also rose that much during that time period in 58 percent of other census tracts throughout the country with sufficient data. Opportunity Zones did even better when comparing areas where prices rose at least 25 percent from the first quarter of 2020 to the first quarter of 2021. Measured year over year, median home prices rose by that level in 1,379 (37 percent) of Opportunity Zones but in only 28 percent of census tracts elsewhere in the country. States with the largest percentage of Opportunity Zones where median prices rose, year over year, during the first quarter of 2021 included Arizona (median prices up, year over year, in 84 percent of zones), Idaho (83 percent), Oregon (83 percent), Nevada (82 percent) and Michigan (82 percent). Of all 4,579 zones in the report, 1,964 (43 percent) had a median price in the first quarter of 2021 that was less than $150,000 and 786 (17 percent) had medians ranging from $150,000 to $199,999. The total percentage of zones with typical values below $200,000 was down from 67 percent in the first quarter of 2020 to 60 percent in the first quarter of 2021. Median values in the first quarter of 2021 ranged from $200,000 to $299,999 in 956 Opportunity Zones (21 percent) while they were at least $300,000 or more in 873 (19 percent). The Midwest continued in the first quarter of 2021 to have the highest portion of Opportunity Zone tracts with a median home price of less than $150,000 (68 percent), followed by the South (51 percent), the Northeast (43 percent) and the West (8 percent). Median household incomes in 87 percent of Opportunity Zones were less than the medians in the counties where they were located. Median incomes were less than three-quarters of county-level figures in 54 percent of zones and were less than half in 14 percent.