Author: Brad Beckett

According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rents in November increased $4 to $1,590 (13.5% year-over-year).  Encouragingly, Yardi says the market remains healthy.  Indeed… “…While November’s rent performance represents a significant deceleration from the $20-plus increases per month of the spring and summer, it also is the largest average rent increase in the month of November since before the Great Recession. Typically, rents flatten in November, as demand wanes and fewer people move. Going forward, rent growth seems likely to level off, both because of seasonality and because the extraordinary gains should revert to the…

We have seen stories like this before;  is it cheaper to rent or own your home?  A recent report from the National Association of Realtors says that in 101 out of 178 metro areas (56%), it is indeed more expensive to own a single-family existing home than to rent. Be sure to look at their entire nationwide data-set. “In all metro areas, it costs more to own a home than to rent an apartment unit. Nationally, the sum of monthly mortgage, property taxes, and maintenance expense is 70% more than the average asking rent (ratio of 1.7).” Click here to…

The U.S. government is reporting that privately‐owned housing starts in November were at a seasonally adjusted annual rate of 1,679,000, which is 11.8% higher than October’s revised number and 8.3% higher than one year ago.  November’s rate for units in buildings with five units or more was 491k.  Privately‐owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,712,000, which is 3.6% higher than October’s revised number.  Authorizations of units in buildings with five units or more were at a rate of 560k in November. Click here to read the full report at…

What are the most commonly spoken languages across our fruited plain (besides English & Spanish)?  Today’s graphic from our friends at the Visual Capitalist remind us that the U.S. is a culturally diverse country, home to a plethora of languages.  Yes, indeed….. Stay safe and have a Happy Friday!! “In 2019, approximately 78% (241 million) of all 308.8 million people ages five and older reported speaking only English at home regardless of their nativity. The remaining 22% (67.8 million) reported speaking a language other than English at home.  Based on this data, Mandarin and Cantonese were the most common non-English,…

Here’s a post that we haven’t seen since 2019;  The American Automobile Association (aka AAA) says that nearly 110 million people will be traveling this holiday season – up 34% from last year.  AAA says the dramatic bounce-back (27.7 million more) will bring this year’s numbers to 92% of 2019 levels.   Interestingly, they estimate that 100 million people are planning to drive to their destinations despite gas costing $1.25 per gallon more than a year ago.  Indeed… “Americans who canceled their vacations in 2020 want to gather with family and friends for the holidays this year, although they will still…

Which places in America have the highest hoe purchase down payments?  That answer can be found in ATTOM Data’s Q3 2021 U.S. Residential Property Mortgage Origination Report which says the national median down payment hit its highest levels since at least 2005.  The report said the median down payment on single-family homes purchased with financing in Q3 was $27,500 – up 5.8% in Q2 and 41% from one year ago.  In addition, they said overall mortgage lending was down 8% in Q3, marking the second straight quarterly decline and the first time in more than two years that total lending…

Lending Tree says that high home prices have many Americans looking to alternatives to the traditional single-family home such as mobile homes.  However, to fully understand the issue, they crunched the numbers to find out if mobile homes are actually less expensive than single-family homes, and do they appreciate the same way.  They looked at U.S. Census Bureau data to compare the median price of mobile homes and single-family homes across the nation (except Hawaii).  They found tha tmobile homes are generally far less expensive than single-family homes, but the median value of mobile homes increased more quickly in 27…

On a recent episode of the Rent Perfect podcast David Pickron says landlords everywhere have been converting their long-term rentals into short-term rentals because the returns are so amazing.  Join Rent Perfect President David Pickron to learn why, how, and when you might consider getting into the short-term rental game. 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…

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 December, 2021 While the economy continues to recover, the more important news for real estate markets is the large and wide-spread rise in home prices. Over the past year, the average home price increased 16 percent; in many markets 30 percent. This surge is unprecedented and will end badly, as bubbles always do. However this surge in prices got started – and I admit it caught…

Realtor.com says 2021 has been wildly turbulent for just about everyone, but the waters have been particularly choppy for those who decided to buy or sell a house.  Indeed, and as we have posted, high home prices driven by low inventory (not to mention the eviction moratoriums) have made the year one for the books, so to speak.  With that in mind, and an eye towards 2022, Realtor.com recently came up with what they believe will be the hottest real estate markets for 2022.  They self-reportedly pulled the metrics, crunched the data, and dusted off their Ouija boards to put…