The National Association of Realtors is reporting that pending home sales were down 4.1% in February, 2022. The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) dropped to 104.9. The NAR says low inventory is still a major problem. Indeed… “Pending transactions diminished in February mainly due to the low number of homes for sale…Buyer demand is still intense, but it’s as simple as one cannot buy what is not for sale.’” Said Lawrence Yun, NAR’s chief economist. Click here to read the full report at the National Association of Realtors.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
The U.S. Government is reporting that sales of new single-family houses in February, 2022 were at a seasonally adjusted annual rate of 772k, which is 2% lower than January’s revised rate and is 6.2% lower than one year ago. The median sales price of new houses sold in February was $400,600 with an average sales price of $511k. There were an estimated 407k new houses for sale at the end of February representing a 6.3-month supply at the current sales rate.Click here to read the full report at the U.S. Census Bureau.
Fortunebuilders says there are several must-know numbers and calculations if you ever hope to analyze investment properties effectively. So, what are the 10 calculations every real estate investor ought to know? Today’s infographic provides a comprehensive guide to the most commonly used investment property calculations in order to discover the best type for your business – everything from After Repair Value (ARV) to Gross Yield! Indeed…….Stay safe and have a Happy Friday!!! “Investing in a property can be exciting, but taking the time to properly analyze your deal is paramount. In some cases, what may seem like a good deal…
CNBC’s Diana Olick says rising mortgage interest rates are impacting mortgage applications, particularly refinancing demand. She reports that mortgage applications are down 12% annually and that 2022 home sales forecasts are being revised downward. Click here to read the full report at CNBC.
According to Zillow’s 2022 Home Features That Sell report, listings that feature amenities associated with energy efficiency and sustainability can help a home sell faster. To get their data, Zillow looked at nearly 230 features and design terms mentioned in listing descriptions for 3.1 million home sales in 2020 and 2021. Some addiitonal findings: A broadband internet connection and other remote work-friendly features can help a home sell for up to 2.5% more than expected. Homes with retreat spaces, such as a “she shed” or meditation room, can sell for around 2% more. Drought-resistant landscaping can help a home sell…
On a recent episode of the Rent Perfect podcast David Pickron says the on-boarding process can be tedious, making you prone to committing mistakes. Pickron explains why Rent Perfect was created and how it benefits everyone from the newest to the most seasoned landlord. 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…
Local Market Monitor, a National REIA preferred vendor, recently released their monthly National Economic Outlook where they share their thoughts on developments taking place in the U.S. economy. National Economic Outlook By Ingo Winzer March 2022 The economy is improving as the pandemic recedes, but the war in Ukraine could easily send it into reverse, quite aside from the possibility of nuclear weapons. We’re in a situation where the unknown is so great that a defensive posture is best for investors. That said, the biggest concern for real estate markets remains the surge in home prices that has affected most…
According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rents in February increased $10 to $1,628 (up 15.4% year-over-year). Yardi says that while rent growth once again rose to record levels, the pace will likely decelerate in the coming months. “The sustained growth illustrates the long-term shortage in America’s housing supply, which has been exposed to a surge in demand. Single-family home prices jumped 18.8% in 2021, according to the S&P Case-Shiller Index, while multifamily rents have kept apace as absorption has been robust in virtually every market.” Click here to read the full report at Yardimatrix.com.…
There are still areas across the country where a good deal on a home can be found. It doesn’t mean the house is any less desirable than in a more expensive market, it simply means that there are places with moderate costs of living where prices are more reasonable. To that end, the folks over at Realtor.com looked at the 250 largest metro areas to find places with the lowest median home prices and limited to just one metro per state. “These areas generally have lower median incomes and lower costs of living, helping keep home prices lower,” says Hannah Jones,…
The National Association of Realtors is reporting that existing home sales were down 7.2% in February to a seasonally-adjusted annual rate of 6.02 million (down 2.4% from one year ago). Total housing inventory at the end of February was 870k units, down 16.5% from one year ago. Unsold inventory sits at a 1.7 month supply at the current sales rate with properties remaining on the market for around 18 days. The median existing-home price for all housing types in February was $357,300, which was up 15.% from one year ago. The NAR says this marks 120 consecutive months of year-over-year…
