September 2025

US housing market value hits record $55T, but growth is slowing

The total value of U.S. homes has climbed to a record $55.1 trillion, although growth has cooled in the past year amid high housing costs. That figure represents a $20 trillion increase since early 2020 and an $862 billion gain over the past year, according to an analysis released Monday by Zillow. But while the national market edged higher, several large states saw their housing values...

Bill aims to expand affordable housing on unused religious, college land

U.S. Sens. Mark R. Warner (D-Va.), Andy Kim (D-N.J.) and Lisa Blunt Rochester (D-Del.) introduced legislation last week that would make it easier for faith-based organizations and colleges to convert unused land into affordable housing. The measure — called the Yes in God’s Back Yard (YIGBY) Act — would direct federal resources to help religious institutions and higher education campuses develop...

Top 5 IMB priorities for GSEs in a post-conservatorship world

On Friday, 46 independent mortgage banks (IMBs) jointly sent a letter to Treasury Secretary Scott Bessent and FHFA Director Bill Pulte, laying out priorities for IMBs for a successful Fannie Mae/Freddie Mac exit from conservatorship. Spearheaded by the Community Home Lenders of America (CHLA), the only national group that exclusively represents IMBs, this IMB sign-on letter laid out five key...

$8.5M Las Vegas time capsule hides a surreal (fully) underground house frozen in the 1970s

Las Vegas has no shortage of spectacle, but even in a city built on surprises, this one takes things underground — literally. Just a few minutes from the Strip, a seemingly ordinary home conceals one of the wildest properties ever built in the U.S.: a sprawling 14,620-square-foot subterranean estate that looks like it was frozen in time in the ’70s. Known as the Underground House, this $8.5...

Fun-ready $7.5M Redland mansion comes with a casino room, rock stage, and private airstrip

South Florida has no shortage of luxury estates, but few pack in as much personality as “Casa da Campagna,” a sprawling 11-acre equestrian property in Miami’s Redland community. Asking $7.5 million, the mansion offers the kind of features you’d expect from a boutique resort — a saltwater pool, stables, a mini golf course — along with a few you probably wouldn’t, like a private airstrip,...

Cooling Miami Housing Market Sees 16 Percent Annual Sales Drop in July

Inventory Rises, But Equity Gains Remain Strong in July Miami's residential real estate market cooled in July 2025, with total sales declining 16% year-over-year to 1,782 transactions, according to the Miami Association of Realtors. Both single-family homes and condominiums experienced notable drops, reflecting elevated mortgage rates, limited financing options, and ongoing supply...

Can mortgage rates get below 6% with this Federal Reserve?

Now that jobs week is over, we are all left with one truth: it really is about the labor market over inflation data when it comes to mortgage rates, which hit a fresh year-to-date low after Friday’s terrible jobs numbers. The question now is whether mortgage rates can drop below 6% and stay there with some duration in 2025 or 2026. That has seemed impossible to do since late 2022. With Fed policy...

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