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Weekly Real Estate News, Salt Lake City, UT (2026)

06/23/2026

The Department of Housing and Urban Development (HUD) has unveiled 14 policy changes to the Federal Housing Administration (FHA) Single Family mortgage insurance program that are designed to lower costs, reduce regulatory burdens, and improve affordability for homebuyers using FHA-insured mortgages.

The changes include an upgrade to the Appraisal Field Review Requirements that will reduce expensive quality control requirements; expanding flexibility under the Limited 203(k) Rehabilitation Mortgage Insurance Program to increase the number of contractor draw requests; updating FHA mortgagee approval and quality control to permanently exempt early payment defaults resulting from natural disasters from the required quality control review sample; and clarifying loss mitigation requirements governing trial payment plans.

“Every unnecessary regulation comes with a cost, and too often homebuyers pay the price,” said HUD Secretary Scott Turner.

The Department of Housing and Urban Development (HUD) has unveiled 14 policy changes to the Federal Housing Administration (FHA) Single Family mortgage insurance program that are designed to lower costs, reduce regulatory burdens, and improve affordability for homebuyers using FHA-insured mortgages.

06/23/2026

Most Americans believe it is better to buy a home than to live in rental housing, according to the latest Bank of America Homebuyer Insights Report. This marks the first time in three years that report respondents favored homeownership over renting.

Sparks Research conducted a national online survey on behalf of Bank of America from April 13 to May 10, polling 2,000 respondents – 1,000 homeowners and 1,000 renters. More than half (53%) of respondents favored homebuying over renting or moving in with family (47%).

The survey also found 90% of respondents stating a home is a valuable investment, up from 79% in 2025, while 94% said homeownership provides stability, up from 83% in 2025. Nearly one-third of respondents (32%) were more confident in their ability to buy a home this year, up from 27% last year.

Most Americans believe it is better to buy a home than to live in rental housing, according to the latest Bank of America Homebuyer Insights Report.

06/23/2026

Alabama recorded 6,938 home sales in May, an increase of 11.7% from the 6,214 transactions recorded one year earlier.

According to the Alabama Association of Realtors, the 21,241 active listings at the end of May mark an increase of 7.8% compared to 19,709 one year ago. Last month’s median sales price of $279,185 was a 16.6% spike from the $231,595 price of May 2025. The sold volume was $2.19 billion in May was a 28.8% increase of $490 million from one year before.

The 723 foreclosures in May represented a 37.5% year-over-year increase but was also below the pre-pandemic 863 foreclosures of May 2019.

“With increased listings and the average 30-year fixed rate mortgage roughly 35 basis points lower than this time last year, there is room for continuing growth in home sales throughout the summer buying season,” said Alabama Realtors Economist Evan Moore.

Alabama recorded 6,938 home sales in May, an increase of 11.7% from the 6,214 transactions recorded one year earlier.

06/23/2026

The US Supreme Court provided a partial victory to a Michigan family whose home was sold and seized at below market value to pay relatively small tax bill.

According to combined media sources, Michael Pung and his family lost their home over a $2,242 tax debt. Isabella County officials seized their home and sold it at auction for $76,008, even though its assessed value at the time was for more than $194,000. The winning bidder of the auction flipped the house for $195,000.

The Pung family claimed they were the victims of equity theft and sued the county, arguing they were not compensated properly for the difference between their home’s sale price and the amount they owed in taxes. The US District Court for the Eastern District of Michigan ruled the family was owed $73,766 plus interest for the sale, but they insisted the compensation should have been for the property’s fair market value instead of its sale price.

The Supreme Court justices gave a split decision.

The US Supreme Court provided a partial victory to a Michigan family whose home was sold and seized at below market value to pay relatively small tax bill.

06/23/2026

Investors were responsible for 11.3% of all home purchases during 2025, up from 11.0% in 2024, according to new data from Realtor.com.

Approximately 534,000 homes were purchased by investors in 2025, a 0.7% year-over-year increase. On the flip side, investors sold 442,000 properties last year, 1.5% fewer than the prior year and the lowest count since 2020.

"The investor market has found a new equilibrium," said Hannah Jones, senior economist at Realtor.com.

Investors were responsible for 11.3% of all home purchases during 2025, up from 11.0% in 2024, according to new data from Realtor.com

06/23/2026

Celebrity real estate executive Ryan Serhant has announced the expansion of his eponymous brokerage into Texas with simultaneous launches in Austin, Dallas, Houston, and San Antonio.

Serhant, the star and executive producer of the Netflix series “Owning Manhattan,” said the Texas operations did not involve acquisitions, but instead was the result six independent brokerages are joining forces with his brokerage. The new SERHANT. Texas is led by Susana Sarvis as managing director and broker of record, based out of the firm's Houston office. She most recently served as vice president of brokerage operations at Real Brokerage and previously held leadership roles with Compass and John Daugherty Realtors.

This marks the company's 17th state since it first expanded outside of New York in 2023.

“Top agents and independent brokerages are choosing SERHANT. because we built what no one else has,” said Serhant in a statement.

Celebrity real estate executive Ryan Serhant has announced the expansion of his eponymous brokerage into Texas with simultaneous launches in Austin, Dallas, Houston, and San Antonio.

06/23/2026

A total of 10,940 closed sales were recorded in Virginia in May, 291 more than one year ago for a 2.7% bump-up.

According to data from the Virginia Association of Realtors (VAR), pending sales were up 3.5% from May 2025. At the end of last month, there were 25,871 active listings across Virginia, nearly a 10% jump from last year, while new listings were 6% higher from May 2025.

The statewide median sales price was $452,060, up 2.7% from one year before. Nearly six out of 10 local markets posted year‑over‑year price gains, with a median of 10 days on market statewide. Sold dollar volume also increased in May, reaching approximately $6.3 billion statewide, an 8.6% year-over-year increase.

“Virginia’s housing market continues to show resilience this spring, with rising sales activity supported by improving inventory conditions,” said Ryan Price, VAR’s chief economist. “Mortgage rates remain stubborn due to a combination of economic and global factors, yet buyer demand has held steady.

A total of 10,940 closed sales were recorded in Virginia in May, 291 more than one year ago for a 2.7% bump-up.

06/23/2026

A prominent Miami commercial real estate broker was found not guilty by a jury in connection to a 2022 boat crash that left one teenager dead and another with permanent disabilities.

Fox News reports George Pino, president of State Street Realty, was accused of driving his boat into a channel marker in Biscayne Bay during his daughter’s 18th birthday celebration over the Labor Day weekend four years ago. He was charged with second-degree manslaughter and vessel homicide for the crash that killed 17-year-old Lucy Fernandez and left another teen, Katy Puig, now 21, with a traumatic brain injury.

Pino’s attorneys convinced the jury that the collision was an accident.

"We are grateful to the jurors for their careful consideration of the evidence and for reaching a just verdict," lead defense attorney Howard Srebnick said in a statement. "From the beginning, we have maintained that the events of Sept. 4, 2022, were a tragic accident, not a crime.

A prominent Miami commercial real estate broker was found not guilty by a jury in connection to a 2022 boat crash that left one teenager dead and another with permanent disabilities.

06/23/2026

Sunstone Hotel Investors Inc. (NYSE: SHO), a lodging real estate investment trust, announced the sale of the 821-room Hyatt Regency San Francisco to funds affiliated with Blackstone Real Estate (NYSE: BX), for a gross sale price of $279 million, or approximately $340,000 per key.

Located at the foot of Market Street and The Embarcadero in the city’s financial district, the hotel opened in 1973 and has been featured in several classic films including “The Towering Inferno,” “High Anxiety” and “Time After Time.”

Sunstone acquired the property in December 2013 for $262 million. Eastdil Secured marketed the hotel and served as exclusive broker for the sale.

“We are pleased to announce the disposition of Hyatt Regency San Francisco and our ability to realize an attractive private market value for a lower yielding asset,” said CEO Bryan A. Giglia.

Sunstone Hotel Investors Inc. (NYSE: SHO), a lodging real estate investment trust, announced the sale of the 821-room Hyatt Regency San Francisco to funds affiliated with Blackstone Real Estate (NYSE: BX), for a gross sale price of $279 million, or approximately $340,000 per key.

06/23/2026

Century Communities Inc. (NYSE: CCS) has unveiled Evelyn, a new single-family home community in Northeast Austin.

According to the company, the new community offers single- and two-story floor plans ranging from 1,388 to 3,304 square feet, with three to six bedrooms, two to four bathrooms, and two-car garages. Community amenities include a pool, scenic ponds, playgrounds, and walking trails.

The company added the community has quick access to I-35 and downtown Austin and is in close proximity to major employers including Tesla and Samsung. Pricing ranges from the $300,000s to $500,000s.

"Evelyn reflects how we're continuing to evolve our Austin portfolio—launching just a week after Cloverleaf in South Austin—by offering more choice, more flexibility, and locations that align with where people live and work today," said Division President Paul Kwiatkowski.

Century Communities Inc. (NYSE: CCS) has unveiled Evelyn, a new single-family home community in Northeast Austin.

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