Author: Brad Beckett

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…

According to the latest CoreLogic Home Price Insights (HPI) report, home prices nationwide, including distressed sales, increased 18% year-over-year in October.  CoreLogic predicts that home prices will increase on a month-over-month basis by 0.2% through November, 2021, and on a year-over-year basis by 2.5% through November, 2022. “New household formation, investor purchases and pandemic-related factors driving demand for the limited supply of available for-sale homes continues to propel the upward spiral of U.S. home prices. However, we expect home price growth to moderate over the near term as many buyers take a break for the holidays.”  -Frank Martell, President and…

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) was 0.8% in November, 2021.  However, the all items index rose 6.8% for the 12 months ending November, the largest 12-month increase since 1982. Click here to read the full release at the Bureau of Labor Statistics.

The American Christmas Tree Association wants you to find the best Christmas tree for your family this holiday season.  Today’s infographic spells out some good advice for making that happen.  Stay safe and have a Happy Friday!!! Hat tip to the American Christmas Tree Association.

The National Multifamily Housing Council (NMHC) says that 77.1% of apartment households made a full or partial rent payment by December 6th, 2021.  This figure is 1.7% higher than those who paid rent through December 6, 2020.  The data comes from the NMHC’s Rent Payment Tracker which uses data from 11.8 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. Click here to read more at the NMHC.

According to recent data from the Associated General Contractors of America, construction employment increased by 31k jobs in November, 2021 with 10,300 jobs added in residential and 20,800 in the nonresidential categories.  The AGC said construction firms would have added even more jobs if they could find more qualified workers with many firms reporting an increasing number of unfilled positions. “It is heartening to see steady job growth across all construction segments following a long period during which only residential contractors were adding employees…But record job openings show the industry needs still more workers as more types of nonresidential projects…