REI INK

Redfin Reports Asking Rents Fall 2% in the West But Rise 5% in the Northeast, Midwest

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Nationwide, rents declined 1% from a year earlier in May—the largest drop since 2020—as a building boom increased supply and economic uncertainty cooled demand The median U.S. asking rent fell 0.6% year over year to $1,995 in May—the largest annual decline since March 2020—according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. That compares with a near-record 16.5% increase one year earlier. May’s drop also represented the first

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U.S. FORECLOSURE ACTIVITY SEES SPIKE IN MAY 2023

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Foreclosure Starts Increase 4 Percent from Last Month, While Completed Foreclosures Increase 38 Percent ATTOM, a leading curator of land, property, and real estate data, released its May 2023 U.S. Foreclosure Market Report, which shows there were a total of 35,196 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — up 7 percent from a month ago and up 14 percent from a year ago.  “The recent increase in foreclosure

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House members introduce ‘Neighborhood Homes Investment Act’ to expand affordable homeownership opportunities and revitalize communities

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500,000 homes could be constructed, renovated and sold under the bipartisan bill Representatives Mike Kelly (R-PA) and Brian Higgins (D-NY) introduced legislation to create a new tax incentive that would produce 500,000 starter homes in under-resourced communities over the next decade. The Neighborhood Homes Investment Act (“Neighborhood Homes”) would address the needs of families throughout the country who are struggling to purchase homes as costs continue to rise and the supply of homes remains

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Poplar Homes Acquires Venture REI’s Single-Family Property Management Business

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Acquisition adds more than 150 homes to Poplar’s growing management portfolio, marks company’s entry into Arizona Poplar Homes, the tech-enabled property management company changing the way independent single-family rental investors and multifamily owners manage their rental properties, today announced it has acquired Venture REI’s single-family for rent property management portfolio. The acquisition marks Poplar’s entry into Arizona and adds 152 homes in Scottsdale to the company’s property management portfolio as part of its national expansion.

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Setpoint Announces Acquisition of Resolute Diligence Solutions, Strengthening Technology Platform For Asset Backed Lending

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Transaction brings together two of the fastest growing tech firms in the asset-backed lending ecosystem, advances shared vision of building next-gen lending infrastructure Setpoint announces the acquisition of Resolute Diligence Solutions, an industry leading due diligence provider focused on Single Family Rental (SFR) and Residential Transition Loans (RTL). Third party due diligence is the trust builder in lending transactions – ensuring each deed, title, or lease is verified and reported

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NMHC Delivers Guide for Advancing Housing Equity and Opportunity in the Multifamily Industry

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The National Multifamily Housing Council (NMHC), working with Enterprise Community Partners, has released a groundbreaking new resource for apartment firms, policymakers, community advocates and the public to explore ways that multifamily housing can be an even greater catalyst for creating more equitable communities and improving economic resilience for the residents we serve. Opening Doors of Opportunity: A Guide for Advancing Housing Equity in the Multifamily Industry provides ideas, tools and

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