Author: Brad Beckett

With U.S. inflation hitting a high not seen since the Carter-years, the folks over at Statista did a deep-dive into the recent numbers to illustrate how food staples are being hit the hardest.  They point out that the price of eggs rose by a third between June 2021 and June 2022 and butter, flour, chicken and milk also showed some of the next-biggest price increases.  Stay safe, watch those pennies and have a Happy Friday!!! “Recent U.S. inflation levels have been well above those in other industrialized nations, for example in Europe, and surpassed 9 percent year-over-year in June.” Hat…

So, how long does it take to build a single-family house?  The NAHB’s Eye on Housing recently sifted through data from the Census Bureau’s The 2021 Survey of Construction (SOC) to find out.  Their data shows that the average completion time of a single-family house is around 8.2 months, which includes a little over a month from authorization to start and another 7.1 months to finish construction.  They point out that the time from authorization to completion varies across the nation depending on location and whether the house is built for sale or custom-built. Click here to read the full…

On a recent episode of the AZREI Show, Marcus Maloney & Michael Del Prete spoke with Rent Perfect’s David Pickron about their mobile platform that allows landlords to easily take a tenant from the application, to lease, to online payments, saving the landlord time and money in the process.  Whether you are an experienced investor with a large portfolio, or just getting started and looking to secure income and wealth through real estate investing the AZREIA Show is here for you. Click here to listen on Spotify.

This weekend several states across the fruited-plain will be kicking off sales tax holidays for the back-to-school season.  Whether you think this is good or bad public policy is irrelevant;  the bottom-line is saving your hard-earned money!  The data has been provided by the Federation of Tax Administrators and actually covers the entire year.  Be sure to read your state’s “fine-print” for this exemption.   Please note, some states have already had their sales tax holidays for 2022. Upcoming States: Arkansas – August 6-7 Connecticut – August 21-27 Florida – July 25 – August 7 Illinois – August 5-14 Iowa…

The Federal Housing Finance Agency (FHFA) recently announced the establishment of an Office of Financial Technology. According to an agency release, the new department will serve as a centralized source of information to support FHFA in addressing emerging risks and advancing agency priorities related to the adoption and deployment of financial technology (fintech).  One of the focus areas of this new department will be engaging market participants, industry, nonprofits, consumer groups, and academia to facilitate the sharing of best practices of housing finance fintech and innovation. “When used responsibly, fintech has the potential to improve borrowers’ experiences with the mortgage…

According to ATTOM Data’s Midyear 2022 U.S. Foreclosure Market Report, there were a total of 164,581 U.S. properties with foreclosure filings in the first six months of 2022.  This figure is up 153% from the same time period a year ago but down just 1% from the same time period two years ago.  Significantly, they report there were 117,383 U.S. properties that started the foreclosure process in the first six months of 2022, up 219% from the first half of last year they and up 19% from the first half of 2020. States that saw the greatest number of foreclosures…

CNBC’s Diana Olick says mortgage demand recently hit a 22-year low as buyers worry about higher interest rates and inflation. She says “pain in the mortgage market” is only getting worse. However, she also points out that the market is going to become less competitive for sellers as the number of multiple offers dramatically shrinks. Click here to watch at CNBC.com.

The National Association of Realtors is reporting that existing home sales were down 5.4% in June to a seasonally-adjusted annual rate of 5.12 million (down 14.2% year over year).  Total housing inventory at the end of June was 1,260,000 units, up 2.4% from one year ago.  Unsold inventory sits at a 3-month supply at the current sales rate with properties remaining on the market for around 14 days.  The median existing-home price for all housing types in June was $416k, up 13.4% from one year ago.  The NAR says this marks 124 consecutive months of year-over-year increases, still the longest-running…

The U.S. government is reporting that privately‐owned housing starts in June were at a seasonally adjusted annual rate of 1,559,000, which is 2% lower than May’s revised number and 6.3% lower than one year ago.  June’s rate for units in buildings with five units or more was 568k.  Privately‐owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 1,685,000, which is 0.6% lower than May’s revised number.  Authorizations of units in buildings with five units or more were at a rate of 666k in May. Click here to read the full report at…

We have had a lot of posts about population data – especially the importance of knowing where people are moving to/from.  Today’s graphic from the Visual Capitalist illustrates a decade of population movement across U.S. counties, painting a detailed picture of U.S. population growth between 2010 and 2020.  Stay safe and have a Happy Friday!!! There are a number of factors that determine how much a region’s population changes…If an area sees a high number of migrants, along with a strong birth rate and low death rate, then its population is bound to increase over time. On the flip side,…