HUD News in Review banner image for May 25, 2022

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Here are the latest announcements by the Department of Housing and Urban Development:

April home sales numbers announced

Date Posted: May 24, 2022

Name single-family home sales in April were 16.6% below last month’s rate, as announced yesterday by HUD and the U.S. Census Bureau.

There was a Seasonally Adjusted Annual Rate of 591,000 new homes sold in April of this year. This number is 26.9% below April, 2021’s estimate of 809,000 homes.

New Residential Sales for April, 2022:

New Houses Sold591,000
New Houses for Sale444,000
Median Sales Price$450,600

More information about new residential sales in April, 2022 can be found here.

FHA announces new Green Mortgage Insurance Premium

Date Posted: May 18, 2022

The FHA announced last week that it will significantly reduce mortgage insurance premiums for residential care facilities that use green practices.

The Section 232 Green Mortgage Insurance Premium is “for residential care facilities where the facilities meet industry-recognized green building certifications and achieve meaningful, measurable energy and water efficiency improvements,” according to the HUD press release.

HUD Deputy Secretary Adrianne Todman said:

“Part of HUD’s mission is creating and supporting resilient communities. This action today brings together two forms of resilience: long-term care and energy efficiency…With today’s action, we are lowering costs for achieving modern, energy-efficient facilities that will combat climate change while enhancing the safety and well-being of Americans requiring ongoing care.”

More information about the Green Mortgage Insurance Premium can be found here.

Assistant Secretary for Housing and the FHA Commissioner sworn in

Date Posted: May 23, 2022

Last Friday, Julia Gordon was sworn in as HUD’s Assistant Secretary for Housing and the Federal Housing Commissioner.

“HUD’s Office of Housing and the Federal Housing Administration are critical to the department’s work, and I’m delighted to be a part of a strong team in strengthening our communities and meeting urgent needs in the housing market,” Gordon said in the HUD press release.

HUD Secretary Marcia L. Fudge said:

“Julia is a respected leader with decades of experience working to create more vibrant and equitable communities. She brings a depth of expertise and perspective to FHA at a critical time for our country’s housing market. Her leadership will be invaluable as we work to expand access to safe, affordable, and sustainable housing.”

More information about HUD’s new Assistant Secretary for Housing and the FHA Commissioner can be found here.

Loan guarantee announced for CA energy efficiency upgrades

Date Posted: May 23, 2022

A $500,000 loan guarantee has been announced by HUD for energy efficiency upgrades in the City of Downey, California.

According to the HUD release, the loan guarantee will help install upgrades including “solar photovoltaic (PV) panels, carport canopies, and battery energy storage systems (BESS) at city-owned buildings and facilities.”  It is offered through the Section 108 Loan Guarantee Program.

Jemine A. Bryon, Acting General Deputy Assistant Secretary, Office of Community Planning and Development at HUD, said:

“Sustainability is a critical piece of our mission at HUD…This loan guarantee emphasizes our path towards ensuring that all communities have equitable access to clean energy.”

More information about these energy efficiency upgrades can be found here.

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