Real Estate News 05/16/2025

Today’s News Synopsis:

In The News:

The Jerusalem Post – “Unlocking California’s Backyard Potential: The 2025 Guide to ADU Costs and Opportunities” (05-14-25)

“ADUs can be detached structures, garage conversions, or additions to existing homes. ADUs offer flexibility for multigenerational living, home offices, or rental opportunities, making them an attractive option for many California homeowners.​“

CNET – “Mortgage Forecast: Tariffs and Inflation Have Kept Rates High. Will That Change in May?“ (05-13-2025)

“Tariffs, even reduced ones, still threaten higher inflation. That isn’t good news for mortgage rates.”

MultifamilyDive –  “Trump proposes cutting $33B in HUD funding, including Section 8“ (05-12-25)

“The budget proposal prioritizes state-based grants over federal aid, and would include a two-year cap on rental assistance for adults without disabilities.”

CNBC – “Mortgage demand from homebuyers continues to recover, even with higher interest rates“ (05-14-25)

“The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 6.86% from 6.84%”

Redfin –  “The Homes Americans are Buying are Older Than Ever“ (05-12-25)

“The typical home bought in the U.S. hit a record age of 36 years in 2024. That’s nine years older than the median age of homes purchased in 2012, highlighting how a lack of new construction over the past 15 years has fast-tracked the aging of America’s housing stock. ”