by iwd Tina | Jun 20, 2011 | Housing News
Bucking a six-month trend of falling home sales, Bay State home sales shot up nearly 12 percent in July year-over-year while the decline in median home prices narrowed, The Warren Group reported today.
“This is a much-needed boost for the state’s housing market,” said Timothy M. Warren Jr., CEO of The Warren Group, publisher of Banker & Tradesman. “We haven’t had a double-digit gain in monthly home sales since last October. And the declines in home prices have been getting smaller every month.”
Warren said low interest rates, reduced prices, the first-time homebuyer tax credit and improved consumer confidence helped fuel buyer interest in late spring which led to an increase in closed sales in July.
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by iwd Tina | Jun 20, 2011 | Housing News
Lenders started and completed more foreclosures in Massachusetts during the third quarter than the previous quarter, but foreclosures have declined almost 30 percent year-over-year, according to a new report by The Warren Group.
A total of 2,048 foreclosure deeds were recorded from July through September, a 3.9 percent increase from the 1,971 in the second quarter. But foreclosures dropped 29.4 percent from 2,903 in the third quarter of 2008. There were 702 foreclosures in September up 6.7 percent from 658 in August and down 12.1 percent from 799 in September 2008. Year-to-date foreclosure deeds fell 29.5 percent to 6,778 from 9,610 the prior year.
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by iwd Tina | Jun 20, 2011 | Housing News
Massachusetts home sales rose for the second consecutive month, climbing 2 percent in August year-over-year, but condominium sales continued to slump, according to a new report from The Warren Group.
Please click here for the full article.
by iwd Tina | Jun 20, 2011 | Housing News
Today, the U.S. Census Bureau released its annual update of state-level data on household income from the American Community Survey (ACS). This data shows no statistically significant change in median household income –- a common barometer of how the typical household is faring –- in Massachusetts between 2007 and 2008. Please click here for more details.
by iwd Tina | Jun 20, 2011 | Housing News
From Enterprise Community Partners – On September 30, President Obama signed into law a conference report that contains the continuing resolution to fund most of the federal government until October 31. The resolution was included as part of the FY 2010 Legislative Branch Appropriations Act (HR 2918) which passed the Senate earlier that day by a vote of 62-38, previously by the House on September 25. The Continuing Resolution (CR) provides funding for government activities at FY 2009 levels.
In addition to generally maintaining spending at FY 2009 levels, the CR provides for extensions of existing project-based Section 8, Section 202, and Section 811 rental assistance contracts for a full twelve months of funding upon expiration. Additionally, the CR extends FHA lending programs at higher commitment rates than would normally be allowed under the terms of a standard continuing resolution. Finally, the CR prohibits all funding under the CR and previous spending bills to ACORN and its affiliates.
To view a detailed budget breakdown and comparison, see Enterprise’s FY 2010 Budget Chart.
Visit the Library of Congress website for further information on the Continuing Resolution.
by Jenna Connolly | Nov 20, 2024 | Housing News
As of November 20, 2024, over 100 Massachusetts cities and towns have passed zoning districts to comply with the MBTA Communities Law. This innovative law aims to address Massachusetts’ housing shortage by allowing modest types of housing, like duplexes, triple-deckers, and low-rise apartment buildings, near transit. These newly approved multifamily zoning districts will bring us closer to the 200,000 homes that Massachusetts needs by 2030 to stabilize housing prices. Many communities took their commitment to housing one step further by using this new zoning to incorporate affordability as well.
“Communities across Massachusetts are overwhelmingly embracing the MBTA Communities Act. They understand that every municipality has a collective responsibility to ensure we are part of fostering a healthy and vibrant Commonwealth,” said Rachel Heller, Chief Executive Officer of the Citizens’ Housing and Planning Association (CHAPA). “Massachusetts needs more homes that families, older adults, and the local workforce can afford, and these MBTA Communities are doing their part by allowing the creation of more of these types of homes.”
For decades, strict local zoning policies limited opportunities for people by preventing the construction of anything other than single-family homes on large lots. With land values skyrocketing, these policies create barriers that leave some people out of the housing market entirely. Through coalition building, broad outreach, and inclusive community engagement, these 100 MBTA Communities have taken meaningful action to address those barriers.
“The MBTA Communities Act is succeeding at the local level because municipal leaders know that more housing is crucial to the future success of the Commonwealth,” said Lily Linke, CHAPA’s MBTA Communities Engagement Senior Manager. “The vast majority of cities and towns are doing their part in allowing the homes that our residents need, not just because it’s the right thing to do, but because they recognize that when our neighbors thrive, we all thrive.”
CHAPA’s MBTA Communities technical assistance program has supported 45 of these communities by educating residents about the law, consulting with local planners on community engagement, and supporting local pro-housing coalitions as they worked to pass new zoning. 90% of communities that participated in CHAPA’s program have approved an MBTA Communities District, compared to an 83% passage rate overall.
CHAPA congratulates the planners, advocates, elected officials, consultants, and everyone who helped make this milestone possible. We look forward to continuing our work across Massachusetts to encourage communities to embrace and adopt multi-family zoning.
When we say yes to more housing in our communities, we are closer to the Massachusetts we all want and deserve – where everyone has access to a safe, healthy, and affordable home in the community of their choice.
