Author: Brad Beckett

On a recent episode of Rent Perfect podcast David Pickron asks landlords nationwide to consider three important items before they decide if it’s time to sell. “If you don’t have a place to go, don’t sell”  David Pickron 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 to watch on YouTube.

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 16.6% annual gain for May, 2021.  Their 10-City Composite annual increase came in at 16.4% and their 20-City Composite posted a 17% year-over-year gain. “We have previously suggested that the strength in the U.S. housing market is being driven in part by reaction to the COVID pandemic, as potential buyers move from urban apartments to suburban homes.  May’s data continue to be consistent with this hypothesis. This demand surge may simply represent an acceleration of purchases that would have occurred anyway over the next several years. Alternatively, there…

The NAHB’s Eye on Housing says that median lot sizes remained low in 2020.  According to their data, the median lot size of a new single-family detached home sold in 2020 is 8,306 square feet, or just under one-fifth of an acre.  They point out that this is slightly larger but statistically not different from the lowest on record median of 8,177 square feet – which was set one year ago.  Interestingly, the share of smaller lots, under 0.16 acres, is now record high at 39%. “The fact that lots remained in the record low territory during the pandemic-triggered suburban…

What are the top import & top export partners for each U.S. state/territory?  Howmuch.net says the import/export partners for each state vary across the country and their latest maps show exactly who that is. Indeed… Some key points: Canada is the main import partner for 20 states, and Mexico is only the top import partner for 6 states.  it is also the single biggest trading partner for the vast majority of states, receiving the most exports for 33 states The U.S. has a massive trade imbalance with China. Although only a handful of states have China as their main export…

The U.S. Government is reporting that sales of new single-family houses in June, 2021 were at a seasonally adjusted annual rate of 676k, which is 6.6% lower than May’s revised rate and is 19.4% lower than one year ago.  The median sales price of new houses sold in May was $361,800 with an average sales price of $428,700.  There were an estimated 353k new houses for sale at the end of June representing a 6.3-month supply at the current sales rate. Click here to read the full report at the U.S. Census Bureau.

According to Apartment List’s latest Migration Report, more Americans moved in the year after the pandemic than in the year before. They point out that 2020’s pandemic “jump-started” residential mobility, which they say had been slowing for decades.  Interestingly, among full-time workers, 16% moved between April 2020 and April 2021 with data showing interest in apartment rentals is higher now than during and even before the pandemic. Some key findings: More Americans Are Moving Post-COVID Apartment Hunters Are Now Wealthier Than Before Budgets Are Rising Especially Fast for Cross-Market Movers Click here to read the full report at Apartment List.…

With a week to go the 6th U.S. Circuit Court of Appeals in Cincinnati, Ohio ruled in late July that the CDC lacked authority for their national eviction moratorium.   According to a report from Reuters, the court’s unanimous ruling on July 23rd means judges in Tennessee, Kentucky, Ohio and Michigan are no longer bound by the moratorium.  The moratorium is set to expire on 7/31, barring any additional extensions from the Biden Administration. “The opinion by Judges Alan Norris, Amul Thapar and John Bush said dealing with the evictions during the pandemic could not be delegated to the CDC…

The National Association of Realtors is reporting that existing home sales were up 1.4% in June to a seasonally-adjusted annual rate of 5.86 million (up 22.9% from one year ago).  Total housing inventory at the end of June was 1.25 million units, down 18.8% from one year ago.  Unsold inventory sits at a 2.6-month supply at the current sales pace with properties remaining on the market for around 17 days. The median existing-home price for all housing types was $363,300, up 23.4% from June, 2020.  They do point out that supply has modestly improved in recent months due to more…

The U.S. government is reporting that privately‐owned housing starts in June were at a seasonally adjusted annual rate of 1,643,000, which is 6.3% higher than May’s revised number.  However, this figure is 29.1% higher than one year ago.  June’s rate for units in buildings with five units or more was 474k.  Privately‐owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 1,598,000, which was 5.1% lower than May’s revised number.  Authorizations of units in buildings with five units or more were at a rate of 483k in June. Click here to read the…

The Pandemic has altered life as we know it in many ways – some of which are becoming more apparent every day.  John Burns Real Estate Consulting says many buyers & renters that are no longer required to come in to the office every day are flocking to smaller metros for affordability, desirability, and proximity to major hubs. Indeed….  Stay safe and have a Happy Friday!! “…sister cities are seeing a lot of regional migration from residents who are leaving big sister complements. We expect this trend to continue as work-from-home permissions become clearer for many. We are not, however,…