Author: Brad Beckett

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 20.4% annual gain for April, 2022.  Their 10-City Composite annual increase came in at 19.7% and their 20-City Composite posted a 21.2% year-over-year gain. “April 2022 showed initial (although inconsistent) signs of a deceleration in the growth rate of U.S. home prices,” said Craig J. Lazzara, Managing Director at S&P DJI. Click here to read the full report at S&P Dow Jones Indices.

In late June, short-term rental platform Airbnb announced that they were making their temporary ban on all parties and events permanent.  Airbnb says the policy, implemented in August 2020, has proved effective and they are officially codifying the ban as their policy. “We know that the overwhelming majority of our Hosts share their homes responsibly, just as the overwhelming majority of guests are responsible and treat their listings and neighborhoods as if they were their own.” “This new and long-term policy was enacted to help encourage and support community safety. We look forward to sharing updates in the coming weeks…

Rental information site Zumper recently released their latest monthly National Rent Report showing that their median national rent for 1-bedroom apartments in June, 2022 was $1,421 (up .05% from May) and the median two-bedroom rent was $1,707 (down 2.9% from May).  Be sure to check out their list of the top 100 metro areas. “National rent prices typically peak during the summer–which, during “normal” years, is the busiest moving season. But Zumper’s National Index is up just 0.5 percent for one-bedrooms and down a whopping 2.9 percent for two-bedroom apartments–a sign that rent hikes are beginning to slow, and a…

This Monday, July 4th, will mark 246 years of America’s independence!  Today’s infographic takes a look at the Fourth of July “by the numbers” and provides insight into this holiday that we Americans hold dear.  Whatever you do to celebrate, do it safely and have fun…..and, as always, Stay safe and have a Happy Friday!!! “On July 2nd, 1776, the Continental Congress voted in favor of independence, and two days later delegates from the 13 colonies adopted the Declaration of Independence, a historic document drafted by Thomas Jefferson. From 1776 to the present day, July 4th has been celebrated…

According to the latest U.S. Home Flipping Report from ATTOM, 114,706 single-family houses and condominiums were flipped in Q1, 2022.  That figure represents 9.6% of all home sales in Q1 or one in 10 transactions – the highest level since at least 2000.  In addition, ATTOM says that as home sales by investors spiked, typical raw profits on those deals remained below where they were one year ago, with profit margins dipped to their lowest point since 2009. “The good news for fix-and-flip investors is that demand remains strong from prospective homebuyers, as evidenced by this quarter’s report, which shows…

According to Black Knight’s “first look” report for May, 2022, the national delinquency rate on first lien mortgages fell slightly to 2.75% in May, continuing the downward trend in overall delinquencies and marking yet another new low.  However, Black Knight says serious delinquencies remain 45% above pre-pandemic levels. Click here to read the full report at Black Knight.

The Bureau of Economic Analysis says the U.S. current-account deficit, (reflecting the combined balances on trade in goods & services and income flows between U.S. residents and residents of other countries) widened by $66.6 billion, or 29.6%, to $291.4 billion in Q1, 2022.  The BEA says this widening mostly reflected an increased deficit on goods. Click here to read the full report at the Bureau of Economic Analysis.

The National Association of Realtors is reporting that pending home sales were up 0.7% in May, 2022.  The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) climbed to 99.9.  The NAR says pending home sales broke a six-month skid with this slight rise. “Despite the small gain in pending sales from the prior month, the housing market is clearly undergoing a transition…Contract signings are down sizably from a year ago because of much higher mortgage rates.”  Said Lawrence Yun, NAR’s chief economist. Click here to read the full report at the National Association of Realtors.

On a recent episode of Real Estate News for Investors, Kathy Fettke discusses the Fed’s biggest rate hike in three decades, mortgage rate sticker shock, inflation hitting an annual rate of 8.6%, and the home equity bonanza. Click here to listen on Spotify.com.

The U.S. Government is reporting that sales of new single-family houses in May, 2022 were at a seasonally adjusted annual rate of 696k, which is 10.7% higher than April’s revised rate and is 5.9% lower than one year ago.  The median sales price of new houses sold in September was $449k with an average sales price of $511,400.  There were an estimated 444k new houses for sale at the end of March representing a 7.7-month supply at the current sales rate. Click here to read the full report at the U.S. Census Bureau.