Zillow study shows growing support for ‘middle housing’
A Zillow survey found growing support for “middle housing” like duplexes and small apartments, especially accessory dwelling units. Despite a housing shortage, modest densification could increase supply and slow price growth. Support for more home types remains high among renters and is steadily growing for homeowners since 2019. Renters consistently support allowing multifamily housing, while homeowner support has increased from 57% in 2019 to 73% in 2024. LBMJournal.
County developer modifies previous plan to add new apartments on contentious Lutherville land
A developer in Lutherville, Maryland has modified a plan to add 560 new apartments near a light rail station, taking advantage of a new state law. The plan faces opposition from some residents concerned about increased traffic and overcrowding, but the developer argues it would create a vibrant, walkable community. The county is balancing housing needs with community concerns, and the project still requires approval. TheBaltimoreBanner.
Age Waves: How Demographic Shifts Are Reshaping Housing Demand
Demographic shifts are transforming U.S. housing demand, with the market projected to reach $5.85 trillion by 2030, largely due to a 47% increase in the senior population by 2050. Rising living costs are extending rental periods for young adults and increasing single-person households. Demand for single-family rentals (SFRs) and manufactured housing is growing, while student housing may struggle with a shrinking college-age demographic. BisNow.
Maryland Department of Housing and Community Development Prepares Partners for Implementation of New Laws that Address Housing Affordability
The Maryland Department of Housing and Community Development has launched the Turning the Key campaign to provide guidance and resources on new housing laws signed by Governor Wes Moore. The department has developed webinars, FAQs, and materials to ensure smooth implementation of laws addressing affordability, renter protection, and community development. News.Maryland.
Investor Share of Home Purchases Close to Record
Investors are purchasing a larger share of U.S. homes, with 16.8% of homes bought by investors in the second quarter, the highest second-quarter share on record aside from 2022. While overall home purchases fell 1.9% due to high mortgage rates and prices, investor home purchases rose 3.4%. Investors purchased $43 billion worth of homes in the second quarter, a two-year high, indicating a market stabilization following dramatic fluctuations during the pandemic. Globest.
Inflation Falls Below 3% Amid Persistent Housing Costs
Inflation has fallen below 3% annualized growth, but housing costs continue to rise, contributing significantly to overall inflation. The Federal Reserve is likely to consider rate cuts to ease pressure on the housing market, but its ability to address rising housing costs is limited due to supply and development issues. The NAHB forecast expects to see shelter costs decline in the coming months. NAHB.
NAHB Commends Vice President Harris’s Focus on Boosting Housing Production
NAHB commends VP Harris’s housing plan to boost production, but is concerned it lacks solutions for regulations and the built-for-rent market. NAHB’s 10-point plan aims to remove supply barriers, and the organization looks forward to working with lawmakers on policies to increase housing. NAHB.
Thrive Senior Living Breaks Ground on 75-Unit Encore at Heritage-Glen in Fort Worth, Texas
Thrive Senior Living and Orison Holdings have officially started construction on Encore at Heritage-Glen in Fort Worth, Texas. This new development, designed by Arrive Architecture Group, will comprise 50 assisted living units and 25 memory care units. The project is situated in the Alliance area of North Fort Worth. This groundbreaking event comes shortly after the announcement of Thrive Senior Living’s latest venture, the International at Aventura, located in Florida. SeniorsHousingBusiness.
The Biden administration announced a $100 million investment to combat barriers to affordable housing construction through a new grant program. The program will provide funding to state and local governments and other entities to develop and implement plans to facilitate affordable housing production.
The Maryland housing market continues to see rising home prices, with prices up 2.5% per quarter on average, despite a slight slowdown in the market. Inventory is declining, and homes are selling quickly, often within a week, driven by steady demand from government workers and military personnel. While some homes are still selling above list price, the state is working to make homeownership more affordable through various assistance programs. Analysts predict the Maryland housing market will remain strong, with low inventory and stable or rising prices, though potential buyers may face affordability challenges. Overall, the Maryland housing market favors sellers, but buyers have options to help offset the impact of high interest rates. 
The affordable housing crisis in the nation is well-known, and real estate developers and planners are eager to address the issue. However, one of the main challenges they face is not financing or construction but gaining community support for their projects. According to a survey conducted by coUrbanize, two-thirds of developers and planners stated that their most active projects in the next six months will be building affordable and supportive housing. Despite 94% of respondents attempting to gain community input and support through public meetings, many were frustrated by low attendance and lack of productivity. The greatest barrier to engagement, as identified by 60% of respondents, was the lack of staff time. 
The latest Realtor.com Rental Report reveals that renting a starter home has become more financially advantageous than buying in all 50 largest metropolitan areas in the United States, driven by elevated mortgage rates, high home prices, and a decline in rents. On average, renting a starter home is $1,067 per month, less expensive than buying, with cities like Austin, Texas, Seattle, Los Angeles, San Francisco, and New York seeing the most significant savings for renters. While renting remains more economical overall, the advantage is beginning to diminish in some areas as home prices and affordability improve, but certain markets like Memphis and Birmingham have become more rent-favoring due to increased investor activity. 
Carroll County’s unemployment rate is currently at a low of 2.7%, but officials are still working to attract new businesses and create more jobs for its residents. The Board of Carroll County Commissioners recently approved the allocation of $150,000 toward business expansion and new job creation. Denise Beaver, the director of the county’s Department of Economic Development, commented on the funding, indicating that the county is committed to ongoing efforts to support economic growth and job opportunities. This initiative reflects the county’s proactive approach to maintaining a thriving local economy and providing employment options for its community. 
Bipartisan bills in Congress would create a federal tax credit to convert underused commercial properties into affordable housing, addressing vacant spaces and the housing crisis. The $15 billion program would cover up to 20% of conversion costs, with extra incentives for economically distressed areas. The credit is designed to work with existing affordable and historic tax credits to make conversions viable. While the bill has broad support, historic tax credit stakeholders have some concerns. The legislation is unlikely to pass this year but has a good chance in 2025. 
Rental prices nationwide have cooled off, with smaller year-over-year increases, as new housing construction finally hits the market.
More young adults are finding themselves nestled back in the family home, with a whopping 17% of 25-35-year-olds now living with their parents – a drastic increase from just 7% in 1970. This phenomenon is driven by the skyrocketing costs of housing, forcing many to roost at home well into their thirties, despite stories of children eager to flee the nest.
Southern cities like Raleigh, Austin, and Atlanta are emerging as top destinations for 20-somethings seeking entry-level jobs with good salaries and affordable living, offering a combination of brisk hiring, cost-of-living-adjusted wages, and a concentration of industries like technology, healthcare, and finance.
Despite warnings of a looming commercial real estate (CRE) crisis, smaller banks have largely avoided major issues. They tend to focus on suburban office and local business properties that have held up better than the troubled big-city office market. While some banks are reducing CRE exposure, they are not lending as much, creating an opportunity for private credit providers to step in with more expensive financing. 
Lenders are tightening their grip on the commercial real estate (CRE) market as borrowers struggle to meet their obligations, leading to a surge in foreclosure activity. Analysts have been closely monitoring the status of CRE loans, including CMBS, bank loans, and properties in special servicing, revealing a concerning trend of delinquencies.
She says her decision to close was fueled by uncertainty — about the neighborhood, about the economy and about consumer behavior. Her uncertainty is a symptom of a larger plague spreading across Silver Spring, where a once-vibrant downtown commercial district is now lined with vacant storefronts and half-empty office buildings. 
Jamauri Bogan, a 28-year-old developer in Kalamazoo, Michigan, has a pretty simple strategy for finding out what young apartment tenants want. He calls his friends.
A developer has broken ground on a new affordable-housing development on East Patrick Street. The development, called Overlook East, will include 85 units across three buildings and have capacity for more than 300 people. Scheduled to open in late 2025, it is meant to serve people and families making up to 60% of the area median income. 
Middle-aged Americans, part of Generation X, say they will need to rely on family for housing help in retirement (but they haven’t told them yet!). Young adult children have spent years relying on funding from the Bank of Mom and Dad, and now their parents say they may soon need to mooch off of them. Read the full article 
Although affordable housing has gained a previously unheard-of amount of visibility at the federal level over the last few years, the realities of Washington, D.C., are tossing cold water on activists’ hopes for quicker change.
Baltimore is undergoing a significant transformation with billions in investments aimed at revitalizing the city. Key projects include a $500 million redevelopment of the Inner Harbor, major stadium renovations, and the $5.5 billion Baltimore Peninsula project. These developments are expected to attract investors, residents, and tourists, but also bring challenges such as housing affordability and congestion. City leaders emphasize the need for new housing and improved public transit to sustain growth and maintain Baltimore’s unique identity 
U.S. housing starts have plummeted to a four-year low, signaling potential trouble ahead for the real estate market. The sharp decline in new construction is attributed to rising interest rates, economic uncertainty, and higher material costs. This downturn could impact home affordability and availability, making it a critical moment for prospective buyers and investors to stay informed. 
Carroll County officials are seeking resident input to improve affordable and safe housing in the area. They are conducting a survey to gather community feedback on housing needs and challenges, aiming to develop better policies. Residents are encouraged to share their experiences and suggestions to help shape future housing strategies.
Bank of America warns that the U.S. housing market faces prolonged challenges, predicting high prices, limited inventory, and persistently high mortgage rates until at least 2026. Despite slight recent declines in mortgage rates, economists see no immediate solutions, emphasizing that these issues will take years to resolve. Prospective homebuyers should brace for continued market difficulties and limited affordability. Read more about the implications for the housing market and potential strategies for buyers in the full article 
The 2024 State of the Nation’s Housing report reveals persistent and widespread cost burdens, with 50% of renters spending over 30% of their income on housing. The U.S. faces a significant housing shortage, with rising costs and limited inventory hindering both rentals and homeownership. Federal rental assistance is lagging, covering only 25% of eligible households. Additionally, the nation’s housing stock is increasingly vulnerable to climate risks. Addressing these issues requires substantial public and private sector investment and innovative solutions. Read the full article