Author: Brad Beckett

Zillow says the pandemic brought changes that make people more likely to move.  They say that the pandemic has upended the meaning of home and prompted many of people to rethink how and where they want to live.  In their new 2021Mover Report, The Opportunity, Emotion and Trends Behind the Great Reshuffling, they point out that more than 1 in 10 Americans (11%) say they have already moved in the past year – either by choice or by circumstance.  They say this has contributed to a “Great Reshuffling,” with millions of additional households potentially entering the real estate market as…

The U.S. government is reporting that privately‐owned housing starts in March were at a seasonally adjusted annual rate of 1,739,000, which is 19.4% higher than February’s revised number.  March’s rate for units in buildings with five units or more was 477k.  Privately‐owned housing units authorized by building permits in march were at a seasonally adjusted annual rate of 1,766,000, which was 2.7% higher than February’s revised number.  Authorizations of units in buildings with five units or more were at a rate of 508 in March. Click here to read the full report at the U.S. Census Bureau.

This shouldn’t come as a surprise to anyone, but it is interesting nonetheless.  Today’s infographic from Statista shows that an ever-increasing majority of American households have ditched traditional landlines in favor of cell phones.  Why, it seems like just yesterday that telemarketers were calling us to hawk their long-distance calling plans….  Stay safe and have a Happy Friday! Hat tip to Statista.

We love stories about where people are moving.  It’s great “intel” and offers a snapshot for investors looking for that next market.  A recent report from STORAGECafé says more renters moved in 2020 vs. 2019, with most of those upgrading to larger homes.  Interestingly, they point out that 69% of renters looked for housing in the same state while the remaining 31% sought a new home in another state.  Their data also show that 21% of renters moving out of big cities relocated to the suburbs.  Indeed… “The rental market experienced significant disruptions last year, mostly due to the global…

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) was 0.6% in March, 2021.  Over the last 12 months, the all items index increased 2.6% before seasonal adjustment. Click here to read the full release at the Bureau of Labor Statistics.

According to new data from Redfin, buyers who locked in mortgage rates for second home purchases shot up by a record 128% year-over-year in March – marking the 10th straight month of 80%-plus annual growth.  However, they caution that this year-over-year increase should be taken in the proper context considering demand was relatively weak in March, 2020 at the onset of the Coronavirus pandemic.  Redfin says that the intense demand for vacation homes is a symbol of an ongoing uneven economic recovery in the U.S., with some Americans being able to afford second homes and many others unable to afford…

The Wall Street Journal (reposted on Realtor.com) recently wrote about how so-called big firms are crowding out the market for houses and in the process, driving up prices.  They report that it runs the gamut from individuals with smartphones and a few thousand bucks to pensions & private-equity firms with billions, yield-chasing investors are snapping up single-family houses to rent out or flip.  In fact, in suburban Houston, TX instead of biding wars for just just one home, the entire subdivision was sold.  The winning bid of $32 million came from none other than the online real estate investing platform…

According to data from ATTOM’s Q1 2021 Single Family Rental Market report, the average annual gross rental yield (annualized gross rent income divided by median purchase price of single-family homes) among the 495 counties is 7.7% for 2021, down from an average of 8.4% in 2020.  However, ATTOM says it’s not all bad news for rental property investors.  Indeed… “The single-family home rental business is less profitable this year compared to last year across most of country, with yields on the average deals decreasing….” [HOWEVER] “…returns on single-family rentals still generally remain strong and there are pockets, especially in the…

According to the National Association of Realtor’s 2021 Home Buyers and Sellers Generational Trends report, millennials continue to make up the largest share of homebuyers coming in at 37%.  In fact, millennials have been the largest share of buyers since NAR’s 2014 report.  The 2021 report shows 82% of younger millennials and 48% of older millennials were first-time homebuyers, more than other age group.  The NAR’s report also shows that multigenerational homes increased over the last year, as a rising number of homebuyers purchased larger residences compared to prior years.  Indeed… Some key points: 18% of Generation X buyers purchased…

The National Multifamily Housing Council (NMHC) says that 79.8% of apartment households made a full or partial rent payment by April 6th, 2021.  This figure is 1.8% higher than those who paid rent through April 6, 2020.  The data comes from the NMHC’s Rent Payment Tracker which uses data from 11.6 million professionally managed apartment units across the country – representing a wide variety of market-rate rental properties that can vary by size, type and average rental price. “This month’s data is more evidence of a recovering economy and the resilience of the multifamily industry,” said Doug Bibby, NMHC President.…