Author: Brad Beckett

The U.S. Government is reporting that sales of new single-family houses in March, 2022 were at a seasonally adjusted annual rate of 763k, which is 8.6% lower than February’s revised rate and is 12.6% lower than one year ago.  The median sales price of new houses sold in September was $436,700 with an average sales price of $523,900.  There were an estimated 407k new houses for sale at the end of March representing a 6.4-month supply at the current sales rate. Click here to read the full report at the U.S. Census Bureau.

We’ve had a lot of posts warning about the dangers of cybercrime – and with good cause.  According to recent data, losses from cybercrime was around $6.9 billion in 2021, up from $4.2 billion in 2020.  Today’s infographic from Statista takes a look at the costliest types of cybercrime and its relative change over the course of one year.  Stay safe, have a Happy Friday!! (and don’t click on any suspicious links in emails from Nigerian ministry officials promising millions of dollars in exchange for your help). Hat tip to Statista.

HousingWire is reporting that, in mid-April, a federal judge in Kansas City, Missouri certified a class action lawsuit that makes “hundreds of thousands” of U.S. housing consumers plaintiffs in what is potentially an historic case over real estate fees & commissions.  The defendants are the National Association of Realtors (NAR) as well as four of the largest real estate firms in the country – Realogy, Berkshire Hathaway HomeServices of America, RE/MAX, and Keller Williams.   In addition, HousingWIre says Judge Stephen Bough’s 41-page ruling does not say either way whether he believes that NAR and the four brokerages conspired to make…

According to Black Knight’s “first look” report for March, 2022, the national delinquency rate dropped by more than half a percentage point in March, falling to 2.84% and shattering the previous record low of 3.22% in January 2020.  Interestingly, Black Knight says that while serious delinquencies (90+ past due but not in foreclosure) fell 12% for the strongest single-month improvement in 20 years, they remain 70% above their pre-pandemic levels.  Indeed… “Robust employment, continued student loan deferrals, strong post-forbearance performance and millions of refinances into record-low interest rates have all helped put downward pressure on delinquency rates.” Click here to…

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 19.8% annual gain for February, 2022, the third-highest reading in 35 years of their history.  Their 10-City Composite annual increase came in at 18.6% and their 20-City Composite posted a 20.2% year-over-year gain. “The macroeconomic environment is evolving rapidly and may not support extraordinary home price growth for much longer. The post-COVID resumption of general economic activity has stoked inflation, and the Federal Reserve has begun to increase interest rates in response. We may soon begin to see the impact of increasing mortgage rates on home prices.”  Said…

A recent report from the NAR’s Economist’s Outlook says the land market had its best year in nearly a decade in 2021 with land sales rising 6% as well as outperforming the pace of acquisitions of other commercial real estate types.  The report says states with the largest shares of land sales were Texas (15%), Florida (13%), California (6%), Georgia (5%), and Arizona (5%), garnering 44% of land sales in 2021.  Land Ho, indeed… Click here to read the full report at the NAR’s Economists’ Outlook.

The Wall Street Journal has an interesting piece (reposted on Realtor.com) about how small groups of neighborhood volunteers (HOA’s, etc.) are blocking companies from buying single-family homes.  They say this is rewriting the proverbial homeownership rulebook in an effort to stop investor purchases of homes in suburban neighborhoods.  Some of their tactics include include a cap on the number of rental homes in a particular neighborhood or requiring that all rental tenants be approved by the HOA board.  Indeed… Some housing analysts say that blocking investors from neighborhoods could end up hurting renters, who are often less wealthy than their…

The U.S. government is reporting that privately‐owned housing starts in March were at a seasonally adjusted annual rate of 1,793,000, which is 0.3% higher than February’s revised number and 3.9% higher than one year ago.  March’s rate for units in buildings with five units or more was 574k.  Privately‐owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1,873,000, which is 0.4% higher than February’s revised number.  Authorizations of units in buildings with five units or more were at a rate of 672 in March. Click here to read the full report at…

The National Association of Realtors is reporting that existing home sales were down 2.7% in March to a seasonally-adjusted annual rate of 5.77 million (down 4.5% from one year ago).  Total housing inventory at the end of March was 950k units, down 9.5% from one year ago.  Unsold inventory sits at a 2-month supply at the current sales rate with properties remaining on the market for around 17 days.  The median existing-home price for all housing types in March was $382k, which was up 15.2% from one year ago.  The NAR says this marks 121 consecutive months of year-over-year increases,…

With Springtime in full gear now is a good time to get up to speed with those deadly whirlwinds that few of us ever want to see firsthand, tornadoes.  Today’s infographic from Weather.gov tells us about the various types of tornadoes and how to correctly identify them.  In addition, Home Depot has put together a handy severe weather emergency checklist to not only be prepared but keep track of what you have on-hand and and supplies you might need – for any disaster.  Remember, severe weather can strike at any time and with little to no warning.  And, as always,…