According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), U.S. house prices were up 1% in August and up 18.5% from August, 2020. The FHFA produces the nation’s only public, freely available house price indexes (HPIs) that measure changes in single-family house prices based on data that cover all 50 states and over 400 American cities and extend back to the mid-1970s. The FHFA’s HPIs are built on tens of millions of home sales and offer insights about home price fluctuations at the levels of the nation, census division, state, metro area, county, ZIP code, and…
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
The National Association of Realtors is reporting that pending home sales were down 2.3% in September, 2021. The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) fell to 116.7. The NAR says housing supply remains low but they expect inventory to turn the corner in 2022. Indeed… “Some potential buyers have momentarily paused their home search with intentions to resume in 2022.” “Rents have been mounting solidly of late, with falling rental vacancy rates…This could lead to more renters seeking homeownership in order to avoid the rising inflation, so an increase in inventory will be welcomed.” …
Halloween is this weekend and with that notion (or potion, if you will), the scary folks over at smartasset once again came up with their list of the top places in America to celebrate Halloween. To find these creepy places, they looked at several metrics including housing costs, crime rates, the number of costume shops, percent of residents under 14 and the weather. Stay safe and have a Happy Halloween and a Happy Friday!!!Hat tip to smartasset.
It seems like yesterday, but a couple months ago we posted about the Treasury Department patting itself on the back for spending $1.5 billion in rental assistance out of the nearly $46 billion allocated. Now, fast-forward to October and we learn that only an addition $8.5 billion has been spent, or around 20% of the total. As reported by Bloomberg & various media outlets, the Treasury Department is boasting that $2.8 billion was released last month, bringing the total to $10.7 billion, out of the $46.5 billion appropriated by Congress to prevent evictions during last year’s Covid-19 pandemic. Reportedly, just…
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 19.8% annual gain for August, 2021, basically the same as the previous month. Their 10-City Composite annual increase came in at 18.6% and their 20-City Composite posted a 19.7% year-over-year gain – both down from the previous month. “The U.S. housing market showed continuing strength in August 2021,” says Craig J. Lazzara, Managing Director and Global Head of Index Investment Strategy at S&P DJI. Every one of our city and composite indices stands at its all-time high, and year-over-year price growth continues to be very strong, although moderating somewhat…
The U.S. Government is reporting that sales of new single-family houses in September, 2021 were at a seasonally adjusted annual rate of 800k, which is 14% higher than August’s revised rate but is 17.6% lower than one year ago. The median sales price of new houses sold in September was $408,800 with an average sales price of $451,700. There were an estimated 379k new houses for sale at the end of September representing a 5.7-month supply at the current sales rate.Click here to read the full report at the U.S. Census Bureau.
According to Black Knight’s “first look” report for September, 2021, the national delinquency rate on first lien mortgages fell slightly to 3.91% in September, the first time it’s been below 4% in 18 months. However, Black Knight points out that nearly 400k mortgage holders exited forbearance plans in the first two weeks of October alone, meaning it will be essential to track foreclosure metrics closely in the coming months. Click here to read the full report at Black Knight.
On a recent episode of Rent Perfect podcast David Pickron says “show me the money” and stop chasing your tenant(s) down every month to get your rent payment, without hassle. Rent Perfect is the solution rental property owners & managers have been crying out for! Their Online Lease Agreement allows you to send your tenant(s) a customized lease agreement, electronically & securely. They offer the most accurate & thorough credit & background screening available. Members of National REIA receive a discounted set up fee. Click here to listen on Spotify.com.
A new report from Redfin says mortgage payments rose faster than rents for the 8th consecutive month in September. They say average monthly rents increased 11% nationwide over the past year- the highest growth rate in at least 2 years. However. the national median monthly mortgage payment for homebuyers went up even faster, climbing 15% since September 2020. Redfin says this is the 9th consecutive month that growth in median mortgage payments for new homebuyers has outpaced that of rents. Click here to read the full report at Redfin.com.
The National Association of Realtors is reporting that existing home sales were up 7% in September to a seasonally-adjusted annual rate of 6.29 million (down 2.3% from one year ago). Total housing inventory at the end of September was 1.27 million units, down 13% from one year ago. Unsold inventory sits at a 2.4-month supply at the current sales pace with properties remaining on the market for around 17 days. The median existing-home price for all housing types was $352,800, up 13.3% from September, 2020. Click here to read the full report at the National Association of Realtors.
