Author: Brad Beckett

The U.S. government is reporting that privately‐owned housing starts in May were at a seasonally adjusted annual rate of 1,572,000, which is 3.6% higher than April’s revised number.  However, this figure is 50.3% higher than one year ago.  May’s rate for units in buildings with five units or more was 465k.  Privately‐owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,681,000, which was 3% lower than April’s revised number.  Authorizations of units in buildings with five units or more were at a rate of 494k in May. Click here to read the…

The Visual Capitalist reminds us that we live in an increasingly volatile world, where change is the only constant.  Combine that with the fact that, whether we like it or not, we are living in a global economy that is affected by an increasingly amount of variables – most of which are out of our control.  To that end, today’s infographic illustrates the top 10 business risks that leaders must watch out for in 2021.  Stay safe and have a Happy Friday!!! “Businesses, too, face rapidly changing environments and associated risks that they need to adapt to—or risk falling behind.…

According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rents in May increased $12 to $1,428 (2.5% year-over-year).  In addition, Yardi says this is almost exactly where rent growth was in March, 2020 when the pandemic began spreading in the U.S. “Nationally, there is little weakness left in the multifamily sector. YoY rent growth is back to prepandemic levels, and rents on a dollar amount basis increased the most in a single month in the history of our data set.” Click here to read the full report at Yardimatrix.com.

According to the latest CoreLogic Home Price Insights (HPI) report, home prices nationwide, including distressed sales, increased 13% year-over-year in April.  CoreLogic predicts that home prices will increase on a month-over-month basis by 1.1% through May, and on a year-over-year basis by 2.8% through April 2022. “As older homeowners become more comfortable with listing their homes, they are faced with the reality that if they sell, they may get a smaller home for the same price as what they already have. Rather than decreasing their financial burden and cashing out equity to support their retirement, baby boomers may choose to…

According to a new report from the Wall Street Journal (reposted on Realtor.com),  a new trend of “built to rent” subdivisions are spreading across the county.  The WSJ says these new subdivisions are managed more like apartment buildings and have designated staff for repairs & maintenance.   In addition, data currently shows that built-to-rent home make up 6% of newly built homes, however experts have suggested that the number of these homes built annually will double by 2024.  Indeed… “In the past few years, the model has taken off around Phoenix and elsewhere—and is likely to become a dominant force in…

The Equity Trust Company, a leader in Self-Directed IRAs and a National REIA preferred benefits provider, recently released their list of the top 10 most & least expensive real estate markets.  Their Trust Self-Directed Real Estate Market Report  reveals how & where Equity Trust clients used their IRAs and other retirement accounts in the past year to invest in real estate with tax advantages.  Interestingly, they point out that you might assume states with the most expensive real estate would be at the top of their “most expensive” list.  However, that wasn’t always the case.  Indeed… “After analyzing purchase prices…

With home sales white-hot across the country,  Realtor.com says not all markets are “turbocharged” to the same degree.  The crunched the proverbial numbers to identify the metros where homes are flying off the market at the fastest pace, as well as the ones where they’re taking the longest to sell.  Their data show that four of the five fastest-moving metros were in the Western U.S., as Californians who are able to work from anywhere looked for more affordable areas.  However, parts of the Midwest and Northeast are also seeing homes move at a fast clip. “For buyers looking for a…

Reuters is reporting that the attorneys general of 22 states recently urged the U.S. Supreme Court not to end the Centers for Disease Control and Prevention’s residential eviction moratorium that has been challenged by landlord groups who (rightly) say the CDC far exceeded its authority.  The groups asked the Supreme Court to issue an order stopping the CDC’s national ban on evictions, currently set to expire on June 30th.  The U.S. Court of Appeals for the District of Columbia said it would not lift Judge Friedrich’s stay order.  The D.C. Circuit said the CDC eviction ban was likely lawful, but…

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) was 0.6% in May, 2021.  Over the last 12 months, the all items index increased 5% before seasonal adjustment. Click here to read the full release at the Bureau of Labor Statistics.

What kind of homes are owners and renters living in?  Using data from the latest American Housing Survey, today’s infographic from the Census Bureau illustrates how owners & renters occupy housing of different types and sizes.  Who knew????  Have a safe and Happy Friday!!! Hat tip to the U.S. Census Bureau.