Rental information site Zumper recently released their latest monthly National Rent Report showing that their median national rent for 1-bedroom apartments in February, 2022 was $1,393, up 12.3% year-over-year and the median two-bedroom rent was $1,708 up 13.9%, year-over-year. Be sure to check out their list of the top 100 metro areas. Click here to read the full report at Zumper.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
According to a recent report on FOX Business, Disney has announced that it will be entering the residential real estate space with a new community called Storyliving. The first one will be called Cotino and will be built in Rancho Mirage, California’s with additional future locations under exploration. “Disney Imagineers are exploring the richness of each local region to inspire the theme of Storyliving by Disney communities…Distinctively designed indoor and outdoor spaces will offer residents new opportunities to explore, engage and create the next incredible chapter of their story.” Said Michael Hundgen, executive producer, Walt Disney Imagineering. Click here to…
The National Association of Realtors is reporting that pending home sales were down 5.7% in January, 2022. The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) dropped to 109.5. With inventory still a problem, the NAR warns that a retreat in demand might be on the horizon. Indeed… “With inventory at an all-time low, buyers are still having a difficult time finding a home…Given the situation in the market – mortgages, home costs and inventory – it would not be surprising to see a retreat in housing demand” Said Lawrence Yun, NAR’s chief economist. Click here…
The U.S. Government is reporting that sales of new single-family houses in January, 2022 were at a seasonally adjusted annual rate of 801k, which is 4.5% lower than December’s revised rate and is 19.3% lower than one year ago. The median sales price of new houses sold in January was $423,300 with an average sales price of $496,900. There were an estimated 406k new houses for sale at the end of January representing a 6.1-month supply at the current sales rate. Click here to read the full report at the U.S. Census Bureau.
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 18.1% annual gain for December, 2021, which they say is another record high. Their 10-City Composite annual increase came in at 17% and their 20-City Composite posted a 18.6% year-over-year gain. “We have noted that for the past several months, home prices have been rising at a very high, but decelerating rate. The deceleration paused in December, as year-over-year changes in all three composite indices were slightly ahead of their November levels. December’s 18.8% gain for the National Composite is the fifth-highest reading in history.” Said Craig J.…
Have you ever wondered if you could afford to buy a home in a resort town and whether that investment would pay off? Today’s infographic from ATTOM shows the results of a recent analysis where they reveal the top 10 ski resort markets in the U.S. As always, stay safe and have a Happy Friday!! “Home sellers in nearly half of counties analyzed more than doubled their investment in 5 years” Hat tip to ATTOM Data Solutions.
On a recent episode of Real Estate Underground (Connecticut REIA’s new podcast), host Ed Matthews talks with CTREIA co-founder Linda Baumgarten about her experience & expertise to thousands of real estate investors over the past 15+ years. Among her advice to real estate investors is to “be patient and be smarter” when it comes to deals and “having a mentor or coach is…the best thing.” She also decribes her recent house-hacking experience and the benefits of living in a duplex if times get tough. Click here to listen at Real Estate Underground.
According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), U.S. house prices rose 17.5% from Q4 2020 to Q4 2021. In addiiton, the FHFA’s seasonally adjusted monthly index for December was up 1.2% from November, 2021. The FHFA produces the nation’s only public, freely available house price indexes (HPIs) that measure changes in single-family house prices based on data that cover all 50 states and over 400 American cities and extend back to the mid-1970s. “Housing trends over the past year have created challenges. The quick house price gains may be counterbalanced as mortgage rates increase.…
According to the latest CoreLogic Loan Performance Insights Report, in November 2021, 3.6% of mortgages were delinquent by at least 30 days or more including those in foreclosure. This figure represents a 2.3-percentage point decrease in the overall delinquency rate compared with November 2020. CoreLogic says measuring early-stage delinquency rates is important for analyzing the health of the mortgage market. Their monthly report coverage at the national, state and Core Based Statistical Area (CBSA)/Metro level and includes transition rates between states of delinquency and separate breakouts for 120+ day delinquency. “Nonfarm employment rose 6.45 million during 2021, helping to rebuild…
Storagecafe says self storage has seen tremendous growth recently. In fact, according to their recent analysis roughly 38% of Americans use self storage, with General X and Baby Boomers leading the way. The most common reason for using self storage is downsizing and the most common item being put in those units is furniture. Go figure??? “2021 was a year that saw the incidence of many of these events shoot up. Whether it was decamping to the suburbs, adding an office or a study room to the home, or moving in with mom and dad, self storage lent a helping…
