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.