Understanding California’s 2020 Solar Mandate
Nearly 97% of all US counties will start 2019 with higher Federal Housing Agency (FHA) loan limits than 2018. An increase in loan limits helps offset the 77 consecutive months of year-over-year gains in home prices by offering lower down payment and credit score options. Our Director of Economic Research, Ali Wolf, dug through the data and pulled out the figures you need to know from the release.
We can measure the actual impact of the new limits with Zonda data. For example, 5% more communities nationally now fall within the range compared to 2018 values. In absolute terms, Raleigh, Phoenix, Salt Lake City, Riverside, and Las Vegas are the clear winners (see graph below).
Higher loan limits could move the needle for Raleigh.
Shaun McCutcheon, Senior Manager
FHA communities excel in Phoenix.