Author: Brad Beckett

We’ve posted a lot of stories about the exodus from our nation’s urban cores to the suburbs.  With that in mind a recent story from Reuters about millennials searching for homes in “far-flung places” should have flippers & rehabbers taking note.  According to the Reuters, a new startup called CheapOldHouses.com promotes the purchase & preservation of historical houses across America, most of which come in under $100k and contain unique and interesting architectural detail.  Their site says they search nationwide real estate listings daily to handpick the “most beautiful of the bunch.”  Indeed… “More millennials may leave big cities even…

John Burns Real Estate Consulting recently released their 2021 Apartment Rent Forecasts which they say will to help you “weather” the shifts in the apartment market.  They analyzed 127 metros across the country by taking a look at four key categories: Boomburgs (suburban growth) Braintowns (college towns) Downtowns (urban) Dependables (sizeable unemployment) “We see a positive long-term future for apartments, just on varying timelines, depending on their unique locations and attributes. But in a year where the for-sale market dominated the headlines, let’s not forget that one-third of the population resides in rental housing, and the long-term future for that…

The National Association of Realtors is reporting that existing home sales were up 0.6% in January to a seasonally-adjusted annual rate of 6.69 million (up 23.7% from one year ago).  Total housing inventory at the end of January was 1.04 million units, down 1.9% from December and down 25.7% from one year ago.  Unsold inventory sits at a 1.9-month supply at the current sales pace with properties remaining on the market for around 21 days. The median existing-home price for all housing types was $303,900, up 14.%% from January, 2020.  Once again, the culprit is low inventory: “Home sales continue…

The U.S. government is reporting that privately‐owned housing starts in January were at a seasonally adjusted annual rate of 1,580,000, which is 6% below December’s revised number.  January’s rate for units in buildings with five units or more was 402k.  Privately‐owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 1,881,000, which was 10.4% higher than December’s revised number.  Authorizations of units in buildings with five units or more were at a rate of 557k in January. Click here to read the full report at the U.S. Census Bureau.

Today’s infographic from Statista reminds us that out of all the media that is used to reach customers, radio still comes out on top.  In fact, citing data from Nielsen, on any given week radio reaches 91% of the U.S. population.  Indeed…Stay safe and have a Happy Friday!!! “According to Nielsen’s measurements, far more than 200 million Americans aged 18 and older listen to the radio at least once a week, equaling a reach of 91 percent of the adult population. Smartphones and television share second place, both reaching 85 percent of U.S. adults in any given week.” Hat tip…

The DC-based group US Housing Consultants recently released a short analysis of HUD’s recent decision to enforce the Fair Housing Act to prohibit discrimination because of sexual orientation and gender identity.  The stated goal of this organization is to “help to ensure that your properties are always in compliance.”  Indeed… On February 11, 2021, HUD announced in a memo that the HUD FHEO office will administer and fully enforce the Fair Housing Act to prohibit discrimination because of sexual orientation and gender identity.  This memo was issued to implement Executive Order 13988 on “Preventing and Combating Discrimination on the Basis…

According to ATTOM Data’s latest U.S. Foreclosure Market Report, showing there were 9,702 U.S. properties with foreclosure filings (default notices, scheduled auctions or bank repossessions).  This figure was down 11% from December, 2020 and 80% from one year ago.  In addition they reported that lenders repossessed 1,428 properties (REOs) in January 2021, down 28% from December and down 86% from last year – marking the 13th consecutive annual decline in completed foreclosures. Across the country, one in every 14,164 housing units had a foreclosure filing in January, 2021.  States with the highest foreclosure rates were: Delaware (one in every 4,923)…

Which counties across the nation have experienced the greatest drop in monthly rent?  That’s what the number-crunchers at Realtor.com recently set out to discover.  Using data from last December, they looked at the median year-over-year prices of one-bedroom apartments, town-homes, condos, and rental homes in America’s 100 largest counties. “Some of the major factors that attract renters to dense downtowns—proximity to work and restaurants and fun things to do—are not currently relevant,” says realtor.com Chief Economist Danielle Hale.  “Without these strong lures, many renters are looking to save money and get some more space by moving to the suburbs.” Click…

The U.S. Department of Housing & Urban Development (HUD) announced in mid-February the extension of the FHA’s foreclosure and eviction moratoriums through June 30th, 2021, as well as an extension of the initial start date of a COVID-19 Forbearance.  See text below. HUD ANNOUNCES EXTENSIONS AND EXPANSIONS OF COVID-19 HOMEOWNER RELIEF AND HOME RETENTION MEASURES Extensions and expansions support the immediate and ongoing needs of homeowners who are experiencing economic impacts related to the COVID-19 pandemic. WASHINGTON – To provide urgent economic relief to homeowners impacted by COVID-19, today (2/16/21) the U.S. Department of Housing and Urban Development (HUD) announced…

The U.S. Department of Housing and Urban Development recently announced that they will interpret the Fair Housing Act to bar discrimination on the basis of sexual orientation and gender identity.  They are directing HUD offices and recipients of HUD funds to enforce the Act accordingly. HUD TO ENFORCE FAIR HOUSING ACT TO PROHIBIT DISCRIMINATION ON THE BASIS OF SEXUAL ORIENTATION AND GENDER IDENTITY HUD directive begins implementation of the policy set forth in Biden executive order to prevent and combat sexual orientation and gender identity-based discrimination WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) today announced that…