According to Black Knight’s “first look” report for September, 2021, the national delinquency rate on first lien mortgages fell slightly to 3.91% in September, the first time it’s been below 4% in 18 months. However, Black Knight points out that nearly 400k mortgage holders exited forbearance plans in the first two weeks of October alone, meaning it will be essential to track foreclosure metrics closely in the coming months. Click here to read the full report at Black Knight.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
On a recent episode of Rent Perfect podcast David Pickron says “show me the money” and stop chasing your tenant(s) down every month to get your rent payment, without hassle. 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 discounted set up fee. Click here to listen on Spotify.com.
A new report from Redfin says mortgage payments rose faster than rents for the 8th consecutive month in September. They say average monthly rents increased 11% nationwide over the past year- the highest growth rate in at least 2 years. However. the national median monthly mortgage payment for homebuyers went up even faster, climbing 15% since September 2020. Redfin says this is the 9th consecutive month that growth in median mortgage payments for new homebuyers has outpaced that of rents. Click here to read the full report at Redfin.com.
The National Association of Realtors is reporting that existing home sales were up 7% in September to a seasonally-adjusted annual rate of 6.29 million (down 2.3% from one year ago). Total housing inventory at the end of September was 1.27 million units, down 13% from one year ago. Unsold inventory sits at a 2.4-month supply at the current sales pace with properties remaining on the market for around 17 days. The median existing-home price for all housing types was $352,800, up 13.3% from September, 2020. Click here to read the full report at the National Association of Realtors.
There is one thing that unites all of us, whether we have a disability or know someone who does, and that is the need for safe, clean and quality housing. Today’s graphic from the U.S. Census Bureau illustrates the number of Americans living with several types of disabilities, broken down by age and sex. Stay safe and have a Happy Friday!!! Hat tip to the U.S. Census Bureau.
We’ve had several posts about investing in student housing and college towns. A recent report on Realtor.com says there’s nothing quite like the buzz of a college town. That’s why they crunched the numbers to find the best college towns to buy a home for any stage of life – from starting a career to raising a family, to forever homes. To get their numbers, they looked at about 200 cities with at least 10k residents where undergraduates make up at least 20% of the population. Next they factors in things like related businesses around them; lots of bars and…
According to ATTOM Data’s Q3 2021 U.S. Foreclosure Market Report, lenders started the foreclosure process on 25,209 U.S. properties in Q3, up 32% from Q2 and up 67% from a year ago. ATTOM says this is the first double digit quarterly percent increase since 2014. Overall, there were a total of 45,517 properties with foreclosure filings in the U.S. This figure is up 34% from Q2 and up 68% from one year ago. In addition, lenders repossessed 7,574 U.S. properties through foreclosure (REO) in Q3, up 22% from Q2 and up 46% from one year ago – the first quarterly…
The U.S. government is reporting that privately‐owned housing starts in September were at a seasonally adjusted annual rate of 1,555,000, which is 1.6% lower than August’s revised number. However, this figure is 7.4% higher than one year ago. September’s rate for units in buildings with five units or more was 467k. Privately‐owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,589,000, which was 7.7% lower than August’’s revised number. Authorizations of units in buildings with five units or more were at a rate of 498k in September. Click here to read the…
CNBC’s Diana Olick says artificial intelligence might be taking over the real estate industry . She discusses the overall impact artificial intelligence (AI) is having on real estate with companies like Zillow now using machine-learning in their Zestimates. “In the case of the Zestimate algorithm, the neural network model correlates home facts, location, housing market trends and home values. As a result of this update, the Zestimate can now react more quickly to dynamic market conditions, providing homeowners with a more accurate estimate [prediction] of a home’s current value….” Click here to watch on CNBC.com.
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 October, 2021 The economy continues to improve, although at such a slow rate that we’ll be lucky to just get back to zero by the end of the year – the number of jobs that existed before the pandemic began. This is partly because of the large number of people who have not been vaccinated and partly because some of the jobs that were lost will…
