According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rents in December increased $2 to $1,594 (13.5% year-over-year). Encouragingly, Yardi says rent growth in2021 was more than double any previous year recorded by Matrix. “We anticipate that 2022 will be another strong year for multifamily performance, albeit not like the frenzied highs of 2021. Underpinning this forecast is that the economy should remain strong.” Click here to read the full report at Yardimatrix.com.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
The Wall Street Journal says investors are buying up metaverse real estate in a “virtual land boom.” It might be kind of hard to get your arms around what they’re talking about, however when you hear that millions of real dollars are being poured into virtual real estate it makes you wonder…..and it might make you want to learn more. Indeed… “Real-estate transactions in the metaverse are reaching record highs. We spoke with companies investing in digital real estate to understand the economic model, and why investors are spending millions on virtual property.” Click here to watch on WSJ.com. …
According to U-Haul’s annual Growth Index, Texas edged-out Florida for the largest net gain of one-way U-Haul truck rentals in 2021 with California and Illinois seeing the greatest net losses. The report says migration to southern states continues to be magnified by the lingering Covid-19 pandemic, and no other state netted more U-Haul customers than Texas (barely beating Florida). U-Haul’s growth states are calculated by the net gain of one-way U-Haul trucks entering a state versus leaving that state in a calendar year. Migration trends data is compiled from well over 2 million one-way U-Haul truck customer transactions that occur…
A recent CNBC report featured Jeff Tucker, senior economist at Zillow, where he discussed areas he expects to housing demand to boom in 2022, as well as those areas where it won’t. He predicted the hottest markets will be in the SE United States. Indeed… The hottest markets in 2022 are predicted to be: Tampa, FL Raleigh, NC Jacksonville, FL Atlanta Charlotte, NC Click here to watch on CNBC.com.
According to the latest CoreLogic Home Price Insights (HPI) report, home prices nationwide, including distressed sales, increased 18.1% year-over-year in November. CoreLogic predicts that home prices will remain flat on a month-over-month basis through December, 2021, and on a year-over-year basis by 2.8% through December, 2022. “Over the past year, we have seen one of the most robust seller’s markets in a generation. While increased interest rates may help cool down homebuying activity, we expect 2022 to be another strong year with continuing upward price growth.” – Frank Martell President and CEO of CoreLogic Click here to read the…
If you’re like many Americans, you might have a doorbell camera, a security system or maybe even a smart lock or two. It’s a good piece of mind to have and great way to protect your property – not to mention your home & family! Today’s graphic from Statista takes a look at the approximate household penetration (worldwide) of smart home security products….and it’s only going up. Happy 2022, stay healthy and have a Happy Friday! Hat tip to Statista.
Recently in HousingWire, Altos Research founder Mike Simonsen said there are three important predictions about the strength of the 2022 housing market. He asked whether the market will continue its streak of strong growth, or are will we finally see a slow down? In that vein he put out a “high-level forecast” for what to expect to see in 2022, based on the supply and demand signals seen in recent data. He also highlights which variables we should be watching for unexpected market shifts. Indeed… “As we look towards 2022, all the leading indicators show tight inventory and strong demand…
For the first time, the U.S Bureau of Economic Analysis released official statistics of real state personal consumption expenditures (Real PCE) by state. According to the report, across the nation Real PCE decreased 3.8% in 2020. Note; Real state PCE is a state’s current-dollar PCE adjusted by the state’s regional price parity and the national PCE price index. Indeed…The chart for 2021 should be interesting when it comes out. Click here to read the full report at the Bureau of Economic Analysis.
Recent data from Redfin shows that in mid-December the median home sale price rose 14% year over year to $359,750, which they say is just shy of its all-time high. In addition, they point that this price point was achieved as the number of homes for sale fell to an all-time low. Indeed… “Homebuyers are being hit particularly hard by this wave of inflation…People who set out to buy a home in 2020 but delayed their plans or lost out in bidding wars may now find themselves priced out of homeownership…” Said Redfin Chief Economist Daryl Fairweather. Click here to…
The U.S. government is reporting that total construction spending in November was at a seasonally adjusted annual rate of $1,625 billion, which is up 0.4% from October’s revised estimate. However, November’s figure is 9.3% higher than one year ago. Residential construction was at a seasonally adjusted annual rate of $796.3 billion in November, which is 0.9% higher than October’s revised estimate. Click here to read the full report at the U.S. Census Bureau.
