Author: Brad Beckett

A new report from Redfin says the share of newly built single-family homes on the market at the end of 2021 was at a record high as builders try to keep up with surging demand.  In addition, Redfin said that more than 34.1% of single-family homes for sale in December were new construction, up from 25.4% a year earlier and the highest share on record. “A lot of pre-owned homes are being listed, but they are just selling off so quickly–typically in a matter of days–while new homes take longer to sell…So as a homebuyer, you’re increasingly likely to see…

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 February, 2022 Revised data show steady improvement but an economy still down 3 million jobs from before the pandemic. Similarly, Gross Domestic Product for the fourth quarter was 3 percent higher than pre-covid, but a big chunk of that was due to higher inventories, not actual consumption. We seem to be looking at an economy that is different than before, but in ways we don’t quite…

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) was 0.6% in January, 2022.  However, the all items index was up 7.5% for the 12 months ending in January.  Buckle up… Click here to read the full release at the Bureau of Labor Statistics.

Today is Valentine’s Day and the folks over at Apartment List took a deep-dive into data from dating site Bumble to come up with the best cities in America for dating.  To get their list they looked at 85 cities across the nation and cross-referenced their Dating Satisfaction Score (from Apartment List’s Annual Renter Satisfaction Survey) to determine their list, ranking the cities from highest to lowest based on these satisfaction scores (highest to lowest). “Dating season is in full swing as people re-emerge from the holidays and get ready to find a new partner just in time for Valentine’s…

According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rents in January increased $8 to $1,604 (up 13.9% year-over-year).  Yardi says January’s performance is a sign that demand remains robust. “While rents are unlikely to remain in the 13% growth range throughout 2022, January’s performance is a sign that demand remains robust. Some 460,000 multifamily units were absorbed in 2021, according to Yardi Matrix data, more than double the previous year and more than 50% above the previous annual high.” Click here to read the full report at Yardimatrix.com.

This weekend the Cincinnati Bengals will face off against the Los Angeles Rams in Super Bowl LVI.  Statista points out that while this will be the 3rd Super Bowl for the Bengals, it will be the 5th appearance for the Rams.  Today’s graphic takes a look at which teams have had the most Super Bowl Appearances as well as wins.  Interestingly, since 1967 there are only 4 teams that haven’t played in the “Big Game.”  As always, safe safe and have a Happy Friday!! Hat tip to Statista.

The NAHB’s Eye on Housing recently took a close look at recent Census data to reveal that, in 2021, the U.S. experienced the lowest level of growth on record.  According to the data, U.S. population increased by 393,000 to an estimated 332 million from the previous year.  However, 2021’s estimated population growth rate of 0.12% was the lowest on record since the Census Bureau began collecting this data back in 1900. Click here to read the full report at the NAHB’s Eye on Housing.

A new report from Harvard’s Joint Center for Housing Studies says spending on home improvement & repairs is expected to grow at a stronger pace in 2022, however they say there are signs pointing to an easing of that growth by the end of the year.  In addition, their Leading Indicator of Remodeling Activity (LIRA) says double-digit gains in annual homeowner renovation & maintenance expenditures will top out in Q3 2022 before beginning a deceleration toward more sustainable rates of growth. “Strong increases in home sales activity, household incomes, and home equity levels are supporting a faster expansion of the…

Zillow says it expects home values to grow 16.4% over 2022 as well as predicting a growth rate of 7% for existing home sales – to levels not seen since 2005.  In addition, their report says annual home value growth will likely peak & plateau in the early months of 2022 before slowing somewhat through the end of next year.  These predictions are from Zillow’s most recent Home Value & Sale Forecast which covers the time Click here to read the full report at Zillow.

On a recent episode of the Rental Property Owner & Real Estate Investor Podcast, Brian Hamrick talked with Van Sturgeon, an experienced entrepreneur, developer, general contractor, and rehabber who owns over 1,000 properties across North America.  Van talks listeners through the do’s and don’ts of a successful rehab and share tips on how to save money on renovations.  He shares the improvements he makes that have the highest return on investment, how to find and negotiate with trusted contractors, and why you need to have a payment schedule and a plan in place before you begin. “One of the biggest…