Author: Brad Beckett

Throughout the pandemic, National REIA has done its best to encourage housing providers to work with their tenants and share resources – especially the Emergency Rental Assistance Program.  However, a recent article in The Wall Street Journal (reposted on Realtor.com) said that billions in Covid-19 aid has been slow to reach renters and landlords because state and local agencies disbursing federal rent relief have never had to allocate such huge sums so quickly.  They say this is leaving many tenants and landlords waiting weeks or months to get their share.  Back in December, as part of pandemic relief, $25 billion…

A new report from the U.S. Census Bureau says the Coronavirus pandemic has made many individuals reevaluate how to keep themselves and others safe as well as changing the way they manage space in their homes.  Their conclusion said there were not enough rooms in many U.S. homes for an effective COVID-19 quarantine.  In fact, they also say that housing characteristics don’t just impact a household’s ability to quarantine during a pandemic, they also affect how Americans work & learn at home.  Indeed… “About 38% of all U.S. households in multi-person homes (34 million households) did not have at least…

According to ATTOM Data’s 2020 Property Tax Analysis, $323 billion in property taxes were levied on single-family homes in 2020 (up 5.4% from 2019) with the average tax on single-family homes coming in at $3,719 – which is an average effective tax rate of 1.1%.  Indeed… Click here to read the full report at ATTOM Data Solutions.

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 April, 2021 Maybe there will be a faster recovery now that many people are being vaccinated, but that improvement hasn’t yet shown up in the economic data. The report that the economy added 900,000 jobs in March is encouraging but not entirely convincing because the mechanisms used to estimate such data probably don’t work well in this unusual situation. The re-opening of local economies is beset…

According to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI), home builder confidence came in at 83 points in April, despite strong buyer traffic and tight supply chains.  Any number over 50 indicates that more builders view conditions as good rather than poor.  In addition while they are forecasting continued growth in single-family construction for 2021, they say it will be a slower rate than 2020.   Indeed… “While mortgage interest rates have trended higher since February and home prices continue to outstrip inflation, housing demand appears to be unwavering for now as buyer traffic reached…

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.