​​​​​​The number of U.S. home appraisals declined between the third quarters of 2022 and 2023 as well as between the second and third quarters of 2023. For purchase appraisals, the median appraised value remained unchanged from the third quarter of 2022 to the third quarter of 2023 while decreasing from the second quarter of 2023 to the third quarter of 2023. For refinance appraisals, the median appraised value increased between the third quarters of 2022 and 2023 as well as between the second and third quarters of 2023.

Financing of multifamily properties by Fannie Mae and Freddie Mac in areas of concentrated poverty, as well as their financing of mixed-income housing in these areas, reached a five-year high in 2022. However, absolute dollar financing of mixed-income housing remains small compared to all other financing in these areas.

Introduction

​​​​This blog discusses Fannie Mae and Freddie Mac acquisitions of mortgages secured by real estate titled manufactured homes, with a particular focus on the period since the introduction of the Duty to Serve program in 2018. Manufactured housing is one of the identified Duty to Serve underserved markets and overlaps with other Duty to Serve components, such as supporting the underserved rural housing market.

Introduction