The U.S. government is reporting that privately‐owned housing starts in July were at a seasonally adjusted annual rate of 1,534,000, which is 7% lower than June’s revised number. However, this figure is 2.5% higher than one year ago. July’s rate for units in buildings with five units or more was 412k. Privately‐owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 1,635,000, which was 2.6% higher than June’s revised number. Authorizations of units in buildings with five units or more were at a rate of 532k in July. Click here to read the…
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
The U.S. Census Bureau says 2020’s census marked the 24th count of the U.S. population. Indeed….that data is now starting to trickle for all to analyze and today’s interactive infographic is a great place to start. Be sure to click on the graphic below in order to drill down into state & local data. Stay safe and have a Happy Friday!!! Hat tip to the U.S. Census Bureau.
According to the National Association of Realtors Metropolitan Median Area Prices and Affordability and Housing Affordability Index for Q2, 2021, the median sales price of single-family existing homes rose 22.9% to $357,900, an increase of $66,800 from one year ago. The median sales price rose in 99% of measured metro areas in Q2 of 2021 compared to one year ago – with double-digit price gains in 94% of their markets. However, the NAR says these price gains won’t be repeated in 2022. “Home price gains and the accompanying housing wealth accumulation have been spectacular over the past year, but are…
A new report from Zillow takes a deeper look at at “renters” from their 2021 Consumer Housing Trends report (CHTR). In particular, they provide a snapshot of renters who moved within the past year. They say the typical renter is 33 years old, never married, has at least some college education, and is most likely to live in the South. Indeed… “A global pandemic, historic economic change and an unprecedented shift in the housing market have been hallmarks of the past year. But while these large-scale changes have shifted the landscape and have the potential to reshape renters’ preferences over…
Where are construction workers are in high demand and being paid respectable wages? A recent report on Builder analyzed recent data to find out. They pointed out that despite the Coronavirus pandemic, the U.S. construction industry is coming back strong this year! They did a deep-dive into data from the Census and Bureau of Labor Statistics, looking at at such metrics as opportunity, demand, pay, and cost of living for construction workers to find the top 5 cities. Builder’s top cities with the highest demand for construction jobs are: Dallas Houston Minneapolis Austin, TX Phoenix, Click here to read the…
A new report from the NY Fed says total household debt rose by $313 billion (2.1%) to reaching $14.96 trillion in Q2, 2021. According to their latest Quarterly Report on Household Debt and Credit, mortgage balances was the largest component of household debt, rising by $282 billion. In addition, auto loans increased by $33 billion, credit card balances ticked up by $17 billion and student loan debt actually decreased by $14 billion. This is an information-rich report with 40+ pages of graphs and charts. Indeed… Click here to read the full report at the NY Fed.
According to ATTOM Data’s second-quarter 2021 Opportunity Zones report median single-family home prices increased from Q2 of 2020 to the second quarter of 2021 in 75% of Opportunity Zones and rose by at least 15% in about half of them. In addition they report that price patterns in Opportunity Zones continued to roughly track trends in other areas of the U.S. “Housing markets kept chugging along in some of the nation’s poorest neighborhoods during the second quarter of this year in another sign that the decade long home-price boom across the nation knows pretty much no boundaries. Values kept rising…
According to the latest CoreLogic Loan Performance Insights Report, the serious delinquency rate (90 days or more past due) was 3.2% in May, roughly two times that of a year earlier but down from a recent high of 4.3% in August 2020 and down to the lowest rate since the initial jump in serious delinquencies in June 2020. In addition, they report that the nation’s overall delinquency rate was 4.7% in May with all U.S. states and metro areas posting annual decreases in their overall delinquency rates. “The share of mortgages that were 30 to 59 days past due —…
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 August, 2021 The economy continues to improve but apparently not fast enough to bring jobs back into positive territory by the end of the year. There are still 4 million fewer jobs than before covid. In some sectors of the economy, like construction and finance, jobs are already above pre-pandemic levels; but a million are still missing in healthcare/education and a million at restaurants. This may…
According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rents in July increased $26 to $1,510 (up 8.3% year-over-year). Yardi says single-family (Built-to-Rent) rents continue to grow at an even faster pace than multifamily, with national rents up 12.8% year-over-year. In addition, out of their top 30 markets, nearly half had double-digit year-over-year rent growth. Indeed… “Strong demand for apartments has produced a remarkable recovery across the country. Lower cost metros that fared well during the pandemic continue to outperform, but Gateway metros are also roaring back.” Click here to read the full report at Yardimatrix.com.
