Author: Brad Beckett

According to CoreLogic’s latest Single-Family Rent Index (SFRI), U.S. single-family rent prices started 2022 strong, increasing 12.6% year over year in January compared to 3.9% in January 2021.  In order to gain a detailed view of single-family rental prices, CoreLogic examines four tiers of rental prices. National single-family rent growth across the four tiers, and the year-over-year changes, were as follows: Lower-priced (75% or less than the regional median): 12%, up from 3% in January 2021 Lower-middle priced (75% to 100% of the regional median): 13.3%, up from 3.2% in January 2021 Higher-middle priced (100% to 125% of the regional…

The NAHB’s Eye on Housing says the prices of goods used in residential construction (excluding energy) rose 1.6% in February, according to data from the Bureau of Labor Statistics.   Their data show that building materials prices increased 20.4%, year-over-year, and have risen 31.3% since January 2020.Click here to read the full report at the NAHB’s Eye on Housing.

A recent video story in the Wall Street Journal’s The Economics of…” highlighted how Home Depot has become the dominant player in home improvement by catering to its professional customers.  In addition, as the WSJ points out, they are the world’s largest home-improvement retail company, with a net worth of about $350 billion.  Indeed… “Our Orange Promise is to deliver the most convenient experience and best value to our customers. Please take a few minutes to watch the Wall Street Journal feature on The Home Depot which highlights how we are growing our business with the Pro customer.”  Said Brian…

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.

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…