AGP Executive Report

U.S. Housing Market: Redfin says sellers are pulling listings at near-record rates—5.8% delisted in April, the highest since early 2020—pointing to higher mortgage rates, rising inventory, and price standoffs. Affordable Housing: Rutherfordton, N.C. opened a new workforce homeownership option at Creekwood Meadows (178 Upper Gateway Circle), with USDA Section 502 and down-payment help for qualifying buyers. Construction & Environment: A dredging project near Port Everglades is headed to court as environmental groups allege it could harm endangered corals by creating sediment plumes. Local Development: El Paso’s Housing Authority is building a new apartment complex at 406 Wallenberg Drive (HOME’s Chair Manor II). Policy & Housing Finance: Democrats and Republicans are questioning President Trump’s acting DNI pick, Bill Pulte, a housing regulator with no intelligence background. Public Health & Community: Colorado Springs reported a January drop in homelessness, while vaccine “Summer Health Hubs” are planned in Fort Wayne for June and July.

Housing Affordability: A new study says nearly 7 million German tenant households are overburdened by housing costs, with the pressure worst for low-income renters. Hotel Labor: Hotel workers in Seattle are voting on strike authorization after contract talks stall, with World Cup crowds raising the stakes for staffing and wages. U.S. Housing Policy Meets National Security: President Trump named FHFA head Bill Pulte as acting national intelligence director, triggering bipartisan backlash over his lack of national security experience and raising concerns about politicizing federal power. Construction & Local Growth: Nevada builders say sentiment is “cautiously constructive” in Carson City, but higher costs and longer timelines are slowing projects. Road Safety Before Expansion: An East Texas mother urged officials to fix dangerous Toll 49 segments before approving future expansion after her daughter’s fatal crash. Real Estate Dealmaking: A gated Lower Bel Air estate is set to sell online via Concierge Auctions for $16.5 million. Data Center Backlash: Erin Brockovich renewed pressure on data centers for full transparency about water and power use. Energy & Markets: Oil prices climbed as U.S.-Iran tensions tested a ceasefire, while stocks stayed near records.

Tariff Relief for Builders and Farmers: The White House cut tariffs on imported farm and construction equipment to 15% from 25% (with a possible 10% rate for high U.S. steel/aluminum content), aiming to lower costs and spur industrial investment through 2027. Housing Affordability Push Meets Reality: The House passed the 21st Century ROAD to Housing Act, a bipartisan package that streamlines reviews and tweaks rental-assistance inspections, but critics say it won’t fix the core affordability gap. Policy Shock in Intelligence: President Trump tapped FHFA chief Bill Pulte—also tied to Fannie Mae/Freddie Mac—as acting director of national intelligence, drawing immediate questions about qualifications and politicization. Local Housing Outcomes: HUD shifted a major homelessness program toward treatment, while Ohio reported rising homelessness and a county analysis in Kansas found a supportive housing pool cut public service costs by about $108,000. Construction and Development Watch: Idaho’s court let the Stibnite gold project move forward as a key antimony source for defense; Oklahoma AG Drummond moved to block a proposed aluminum smelting hub in Inola over pollution and local cost concerns. Rural Growth Spotlight: Vermont’s RISE Summit set “AI and the Future Rural Economy” as its keynote theme for June 16.

Housing & Finance Policy: Trump tapped FHFA director Bill Pulte as acting director of national intelligence, keeping his housing roles at Fannie Mae and Freddie Mac—an unusual move that drew immediate questions about qualifications and politicization. AI Data Centers & Power: Erin Brockovich is pushing for data center transparency as AI demand drives major electricity needs, while Alphabet shares slid after announcing an $80B share sale tied to AI infrastructure. Local Infrastructure & Construction: Missouri’s MoDOT will close the entrance to Ha Ha Tonka Road near Highway 54 for reconstruction, part of a wider Route 54 widening project. Community & Climate Resilience: Cities are testing cooler, flood-fighting parking designs—like porous concrete and permeable paving—to cut storm runoff and heat. Aging Housing: New assisted living stats highlight 32,231 communities nationwide, with median costs around $5,419 per month. Economic Signals for Real Estate: Fed President Beth Hammack warned rates may need to rise if inflation stays sticky, adding pressure to housing affordability. Industrial Growth: ArcelorMittal Building Solutions plans a North American HQ and manufacturing in Macon-Bibb, aiming for new jobs and construction demand.

Construction Safety Watch: A new NJ hospital parking garage in Toms River was shut down as “unsafe,” with reports tying the same precast concrete vendor to Philadelphia’s deadly Grays Ferry garage collapse—raising fresh questions about concrete panel reinforcement and site safety. Housing Finance & Risk: A lender sued to seek receivership over the $32M Cedars Lodge & Spa condo project in Hendersonville, alleging the developer is insolvent and the loan defaulted, as the site sits idle. Local Housing Support: Beacon Bank and PCF Development will host a free first-time homebuyer workshop in Rhode Island on June 16, aiming to boost mortgage readiness and long-term ownership success. Public Housing Enforcement: U.S. Marshals and HUD say “dangerous fugitives” were arrested while living in HUD-subsidized properties in Memphis, spotlighting tenant safety and screening rules. Policy & Markets: The SEC proposed fully rescinding climate-related disclosure rules, a major shift for capital markets and corporate reporting. Infrastructure & Growth: Texas Gov. Abbott joined Davie Defense to kick off a $1B Gulf Copper shipyard revamp tied to Coast Guard Arctic Security Cutters, with thousands of jobs expected.

Housing Finance Watch: U.S. construction spending rose 0.4% in April, helped by a 1.4% jump in single-family work, but mortgage rates remain a drag after the 30-year fixed rate hit 6.53% amid Iran-related inflation fears. Homebuyer Stress: Foreclosure activity is broadening, with the national foreclosure inventory rate up to 0.4% in March and more metros seeing higher rates in Q1. Local Housing & School Funding: Cabrillo Unified’s board heard pushback over a costly coding contract as it tries to close a $6.1M pool gap, while also approving temporary classroom spending. Construction & Building Materials: Georgia Gov. Kemp announced ArcelorMittal Building Solutions is adding a Macon-Bibb HQ and manufacturing site tied to insulated building-envelope panels. Mortgage Access Tech: Rocket Mortgage says it’s adopting VantageScore 4.0 to help more creditworthy borrowers qualify. Market Distress (CRE): Dallas-area distress is back in focus as Texas CRE foreclosure totals topped $1B again in June. Policy/Legal: A judge blocked the Kennedy Center from closing for renovation and ordered removal of Trump’s name, a reminder that major public projects can get derailed by governance fights.

Housing & Development: West Palm Beach approved city-owned lots for the Quantum Foundation to build a “community hub” in Coleman Park, including apartments and townhomes with at least 40% affordable/workforce units. Education Construction: Garrett-Keyser-Butler broke ground on a new $60M J.E. Ober Elementary School, built in place with a phased approach, targeting completion in about two years. Infrastructure & Traffic: Nevada crews begin the $22M I-11 SafeTech Corridor Project, adding traffic-management tech and lane closures on a busy stretch from late May through September. Public Safety Planning: Denton, Texas is forecasting sharply rising fire/EMS calls and mapping sites for seven future fire stations to protect response times as growth accelerates. Major Bridge Work: A river barge carrying equipment for the Brent Spence Companion Bridge arrived in Cincinnati after a 600+ mile trip, setting up next construction steps toward a 2031 opening. Corporate Housing Deal: Berkshire Hathaway agreed to buy homebuilder Taylor Morrison for about $8.5B in cash, expanding its site-built footprint. Legal/Policy: A federal judge temporarily blocked parts of Trump’s Kennedy Center overhaul and ordered removal of Trump’s name from the building/branding. Energy & Power: The DOE is pushing next-gen nuclear reactors, including small/micro designs, as costs and licensing hurdles have long slowed U.S. nuclear expansion.

Affordable Housing Boost: Colorado’s Housing and Finance Authority awarded tax credits to 3 Pikes Peak region affordable projects, clearing the way for 135 units for low- to moderate-income residents and older adults. Data Center Tax Fight: Ohio suspended a key data center tax break as opposition grows and lawmakers weigh how to balance jobs with rising local costs. Housing Policy & Local Power: Ontario’s “strong mayor” authority has been used thousands of times, but only a small share has directly pushed housing—highlighting how governance tools don’t automatically translate into homebuilding. Construction & Traffic: Vermont and Kentucky roadwork plans are set to bring lane closures and speed limits across major corridors, with multi-month bridge and resurfacing projects underway. Homeownership Stress: A new report finds homeowner anxiety is spiking, especially among Gen Z and millennials, as costs for repairs, utilities, and insurance add to financial uncertainty. Local Development Watch: AT&T won approval in Plano to build a “mini Reunion Tower” replica on its campus, a move that underscores how office shifts keep reshaping U.S. metro real estate.

Mortgage Rates: Freddie Mac says the average 30-year fixed rate jumped to 6.51%, the highest in nine months, tightening affordability just as the homebuying season heats up. Housing Finance: Redfin warns mortgage-rate pressure will keep weighing on the housing market, with buyers and sellers staying cautious. Local Housing Leadership: The Grand Forks Housing Authority is pushing for more affordable housing funding, citing a North Dakota shortage of thousands of units. Affordable Housing Rents: Montezuma County’s housing authority is recalculating rents at four tax-credit properties after residents complained about sharp increases. Construction & Infrastructure: IDOT plans intermittent lane closures at Illinois 100 and U.S. 67 for pavement checks, while Idaho’s U.S. 30 McCammon concrete project shifts traffic to new lanes and detours Old U.S. 91. Public Safety: A Virginia crash on I-95 that killed five has pending charges for the bus driver. Real Estate-Adjacent Costs: Beef prices hit record highs, driven mainly by drought-shrunk cattle supply—another reminder of how everyday costs ripple into household budgets. Data Centers & Power: States are taking a patchwork approach to data center growth, balancing incentives with new limits tied to power and water demands.

Federal Courts & Capital Projects: A federal judge ordered President Trump’s name removed from the Kennedy Center and blocked the planned two-year closure/renovation, saying the board overstepped its authority—Trump now says he’ll transfer control to Congress. Transit & Infrastructure Funding: The U.S. DOT announced $466M for Washington Union Station upgrades, aiming to modernize the hub and expand revenue through retail, parking, and office space. Housing & Community Impact: A new federal report says homelessness is sharply rising in Mississippi, with big jumps in unsheltered homelessness and chronically homeless people living outside shelters. Local Construction Disruptions: KYTC plans an extended U.S. 45 closure in Graves County starting June 8 for a new Jackson Creek bridge; in Sacramento, Caltrans will shut northbound Business 80 from Friday night to early Sunday for American River Bridge work. Energy & Home Costs: Plug-in “balcony” solar is spreading, but legality varies by state; Utah already legalized it and Virginia’s new law takes effect July 1, 2026. Data Centers & Land Use: Utah’s long-running fight over large data-center development is back in focus as residents raise environmental concerns. Market Pulse: Redfin reports Lebanon, Lancaster, and Philadelphia home sales are moving at very different speeds in 2026, with Philadelphia still slower than the others.

Local Housing Market Pulse: Redfin’s April 2026 “market speed” snapshots show many U.S. metros still moving slowly—Madison (50 days), Milwaukee (40), Racine (38), and Oklahoma City (45) all point to single-family as the steadier bet, while several faster-moving markets still carry high “60+ days” shares (e.g., Tulsa 46.3%, Tampa 54.0%, Savannah 50.5%). Construction & Development: Fort Wayne’s St. Joe Place repurposes the historic St. Joseph’s Nurses Home into 39 downtown units after a long vacancy, blending restoration with new build-out. Housing Policy & Governance: A wave of local resolutions continues pushing back on “Section 8 Everywhere” style plans, with multiple cities reaffirming local zoning control. Tech & Real Estate Buildout: ZenaTech is entering AI data center construction monitoring with drone-based LiDAR progress tracking, underscoring how data-center growth is reshaping construction demand. Affordability & Daily Costs: A new look at senior internet options highlights how retirees can face budget pressure even when they’re online.

Housing Permits Watch: PropertyReach says permit counts are a strong early signal for where the next housing boom could form, spotlighting fast-growth Sun Belt metros like Dallas. Modular Homeless Housing: Redding, California is preparing to place 14 modular units (Parkview Haven) for homeless youth, veterans, and mental health clients, aiming to cut build time by about half. Immigration Policy Impacting Labor: A new USCIS memo signals tighter scrutiny for in-country green card adjustments, pushing many applicants back to consular processing—an issue for construction and other industries relying on foreign labor. Local Housing Authority Oversight: HUD’s federal takeover of the Little Rock housing authority moves forward with a two-person board from HUD, reshaping governance after the local board was dissolved. Affordable Housing Programs: Maine’s Senior FarmShare enrollment opens June 1, helping older adults access fresh local produce while supporting farms. Road & Bridge Work: Kentucky plans an extended U.S. 45 closure for a bridge replacement, while Iowa’s Julien Dubuque Bridge repairs start June 10 with a free shuttle for walkers and bikers. Data Centers vs. Housing: Opposition is forcing major cuts to a planned Arizona data center project, a reminder that power-hungry development can derail nearby housing plans. Antitrust Guidance Push: Apartment and multifamily groups ask the FTC/DOJ for clearer rules on competitor collaboration and data sharing in rental operations. Construction Jobs Shock: Shimmick Construction says it’s appealing a Chickamauga Lock contract termination after a WARN notice flagged 183 job losses. Housing Market Narrative: A new piece argues mortgage debt at record levels doesn’t automatically mean a repeat crash, pointing to homeowner equity strength.

Historic Preservation: The National Trust for Historic Preservation named 11 of America’s most endangered places for 2026, tying the list to the 250th anniversary theme of equality; Housing Costs: LendingTree reports property taxes rose in every major metro from 2023 to 2024, adding fresh pressure on homeowners already hit by high mortgage rates and insurance; Homebuilding Watch: U.S. new single-family home sales fell 6.2% in April as mortgage rates stayed elevated, with builders also facing more inventory; Local Growth: Wilmington’s metro is among the fastest-growing in the U.S., driven mainly by inbound migration and pushing up property values in New Hanover County; Rent & Policy: A new push would cap rental application fees at $5 to cut upfront costs that can stack up for renters; Real Estate Finance: JPMorgan Asset Management plans to liquidate its $1.4B real estate income and growth fund, a sign of shifting capital in property lending.

Affordable Housing & Tax Credits: Manitou Springs’ La Fun Motel site is getting its first apartments in decades after Colorado Housing and Finance Authority awarded more than $2M in low-income housing tax credits for 50 units with set-asides from 30% to 60% of area median income. Local Development & Permitting: St. Lawrence County planners approved a 19-lot subdivision on Route 11 in Potsdam, with wetlands triggering state and federal reviews and water/sewer checks. Housing Policy Push: Sen. Elissa Slotkin called for a nationwide housing emergency declaration, pitching a National Housing Emergency Act using the Defense Production Act to speed construction and cut cost-driving regulations. Construction Disruption: Missouri’s MoDOT will demolish the Providence Road bridge over I-70 starting Friday, shifting traffic to one lane and closing the off-ramp for months. Public Health & Housing-Adjacent Outcomes: A Flint study on Rx Kids found fewer preterm births, less low birthweight, and about a 29% drop in NICU admissions after the program launched. Data Centers & Community Backlash: Portage County, Ohio is weighing a major Bitdeer data center plan, while other communities continue to debate whether AI power-hungry projects are a boon or a burden. Federal Procurement Corruption: DOJ charged two Florida men in a bribery and fraud scheme tied to Army innovation campus contracts in Hawaii. Rent Pressure: A report highlights that rent prices are dropping in parts of the U.S., but affordability still hinges on what landlords choose to do next.

Mortgage & Home Affordability: Today’s 30-year purchase mortgage averages 6.627%, easing from yesterday but still keeping homebuying tough; a separate report warns older sellers can lose value when they wait to sell, with “age penalty” effects showing up in lower returns. Local Planning & Development: Spring Township, Pa. keeps delaying a Raising Cane’s restaurant plan tied to a Kohl’s parking lot, with another continuance pushed to June 22. Short-Term Rentals: Jackson Hole, Wyo. is already heavily booked for summer, with nearly 60% of June inventory reserved—another sign of pressure on local housing and visitor demand. AI Data Centers & Power Fight: Environmental activist Erin Brockovich launches a map tracking AI data centers nationwide as communities push back; a Wisconsin letter draws 1776-style parallels to rural opposition to mega data centers and transmission lines. Finance & Housing Risk: FDIC says U.S. bank profits rose 3.6% in Q1, but residential and commercial real estate delinquencies ticked up. Infrastructure Updates: Zanesville, Ohio’s 6th Street Bridge closes June 1-5 for repairs, with detours in place.

Local Zoning Clash: In Indiana, the Allen County Board of Zoning voted 4-0 against a proposed southwest Allen County quarry, with hundreds packing the hearing over noise, water-table fears, traffic, and property-value worries. State Budget Watch: Florida’s long-delayed $114.5B budget is finally set for a Friday vote after Memorial Day weekend negotiations, including $4M for an AI program tied to SNAP eligibility. Mortgage Rule Shift: The OCC issued a preemption decision and final rule on mortgage escrow accounts, signaling more federal pushback against state escrow rules. Defense & Deterrence: South Korea unveiled plans for nuclear-powered submarines built at home, targeting a first launch in the mid-2030s. Elections: Texas GOP runoff results put Ken Paxton on track for the Senate seat after unseating John Cornyn. Housing Finance: VA home-loan totals rose in multiple states in Q1 2026, including Connecticut ($349.5M) and Pennsylvania ($1.2B).