Home prices gained further toward the end of 2024

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1. New TCPA rules on hold after appeals court ruling

A U.S. appeals court blocked stricter FCC telemarketing rules set to take effect on Monday. The court ruled that the agency overstepped its authority with its new one-to-one consent requirement.

The Eleventh Circuit's Jan. 24 decision prompted the FCC to delay the rule change to January 2026, pending the outcome of a lawsuit filed by the Insurance Marketing Coalition. The rule, part of the TCPA, aimed to close a lead-generation loophole by requiring written consent for robocalls and texts.

Real estate professionals can continue current outreach practices for now but must adhere to existing rules. The court emphasized that written agreements must clearly disclose consent for telemarketing.

2. Charted: The average itemized costs of constructing a typical new U.S. single-family home in 2024

In 2024, the average sales price of new single-family homes sampled by NAHB was $665,298, while the total construction cost for the 'average' new single-family home was $428,215.

Below is a breakdown of the costs compared to 2022. Notably, homebuilders saw significant relief in one major area: framing costs.

Note: Each category includes “all the costs paid by a builder that go into a particular item, including labor costs paid directly by the general contractor, the cost of hiring subcontractors, and the cost of materials, however they are purchased.”

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3. More Nuggets

💸 Mr. Cooper agreed to a $5.8M settlement. Who is eligible for relief? (TCA)

📰 HUD Inspector General Rae Oliver Davis fired. (NewsNation)

🏘️ A shadow power broker is swooping in to rebuild the Pacific Palisades. (WSJ)

🚀 New-home sales up 3.6% in December, beating forecasts. (Bloomberg)

4. FHA: Mortgage deals unaffected by funding freeze

The Federal Housing Administration reassured buyers and lenders that President Trump's temporary government funding freeze, imposed Monday by the Office of Management and Budget, will not impact pending mortgage transactions.

The freeze, aimed at aligning funding with executive orders on diversity, equity, inclusion, and environmental policies, prompted concerns from the Mortgage Bankers Association, which sought clarity on the status of FHA, VA, and USDA loan programs.

HUD confirmed Tuesday that its mortgage programs remain operational and unaffected by the pause. (NMN)

5. Home prices gained further toward the end of 2024

Annual home price growth accelerated in November for the first time in seven months, indicating that prices continue to respond to fluctuations in mortgage rates, which dipped briefly last fall.

Nationwide, home prices grew 3.8% in November from a year earlier, more than the 3.6% gain seen in October, according to the latest S&P CoreLogic Case-Shiller Index data released yesterday.

The index’s composite of the 20 largest metro areas posted a year-over-year increase of 4.3%, up from a 4.2% increase the previous month. New York City again reported the highest annual gain among the 20 cities, with a 7.3% increase in November, while Tampa, FL, recorded the lowest return, falling 0.4%.

☀️ You’re all caught up. See you on Friday! 1 fun thing:

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