In our latest roundup, environmental regulations tighten for commercial properties, Wells Fargo sells most of its commercial mortgage services business, first-time home buyers struggle with housing affordability, and more!
- The U.S. Department of Justice announced that it is suing the real estate company RealPage, saying it engaged in a price-fixing scheme to drive up rents. (Jennifer Ludden, NPR)
- As environmental regulations for commercial buildings and properties tighten across the U.S., green leases and technologies offer owners and operators opportunities to reduce their portfolios’ carbon footprints, generate cost savings and further align with ESG goals. (Nish Amarnath, Construction Dive)
- Wells Fargo & Co. agreed to sell most of its commercial mortgage servicing business to Trimont LLC, ceding the title of biggest US commercial and multifamily mortgage servicer to the Atlanta-based firm. (Hannah Levitt and Scott Carpenter, Yahoo)
- The growth of large homebuilders coincides with long-term slowdowns in building permitting and construction productivity which contribute to escalating prices for buyers and renters. (Carlos Waters, Jason Reginato, Lindsey Jacobson, CNBC)
- The real estate market in the U.S. may see some movement when the Federal Reserve Board makes a decision on potentially cutting interest rates in September. (J.D. Durkin, CBS)
- Housing affordability is a struggle, with current high home prices and elevated mortgage interest rates, with many first-time home buyers making financial sacrifices to enter homeownership. (Jessica Lautz, National Association of REALTORS)
- The housing market reversed course slightly in July 2024, showing a slight increase in sales for the first time in four months. (Jeff Ostrowski, Bankrate)