What are the best cities for first-time home buyers? Realtor.com says homes across the country are selling within days (with multiple offers) pricing out buyers of all ages—especially millennials. With that in mind, their number-crunchers recently put pen to paper to find out the best cities for 1st time buyers.. They looked at 800 cities with a minimum population of 50k, then applied several metrics including home prices, for-sale inventory, people aged 35-34, job opportunities and fun amenities such as bars and restaurants. “For a first-time home buyer in this generation, the issue of affordability is front and center, and…
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
The National Multifamily Housing Council (NMHC) says that 80% of apartment households made a full or partial rent payment by May 6th, 2021. This figure is 0.1% lower than those who paid rent through May 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 findings are part of what seems to be an increasingly clear pattern of economic recovery and strong demand for multifamily…
According to a recent report from the National Association of Realtors, land sales rose at a healthy pace in 2020 compared to a collapse in transactions of commercial real estate structures. The report says strong demand for residential land was followed by strong homebuying activity. However, they do say that land sales are expected to continue their increase in 202 1, but zoning regulations will pose constraints to residential land development. Click here to read the full report at the NAR’s Economists’ Outlook.
The United State Consumer Product Safety Commission says Kidde is recalling TruSense Smoke and Combination Smoke/Carbon Monoxide Alarms due to risk of failure to alert consumers to a fire. The recall involves Kidde TruSense Smoke Alarms and Combination Smoke/Carbon Monoxide Alarms. The recalled units are Kidde Model Series 2040, 2050, 2060 and 2070 Smoke and Combination Smoke/Carbon Monoxide alarms. Only alarms with the TruSense logo or “AMBER=FAULT” printed on the front of the alarm are included in this recall. The model number is printed on the back of the alarm. The units were sold at Walmart, Home Depot, Menards and…
How much has the U.S. government spent responding to the Coronavirus pandemic? Howmuch.net reminds us that most Americans are well aware that federal spending during the COVID-19 pandemic has been very costly, but they’re not sure of “just how costly?” Well, today’s infographic takes a snapshot spanning federal agencies and how much they have received to combat the pandemic. It’s quite eye-opening…. Stay safe and have a Happy Friday! “Unsurprising to most, the U.S. response to the COVID-19 pandemic looms well above the trillions as it relates to federal spending. A large percentage of current spending is shared between U.S.…
Beginning in 2024, landlords in Denver (Colorado) will be required to purchase long-term rental licenses for each of their properties under a new law unanimously approved by the Denver City Council in early May. According to the Denver Post, the new law takes full effect by 2024 and will affect around 54k properties. In addition, they say that it’s the largest overhaul of the city’s licensing department and will take a couple of years to phase in as well as requiring hundreds of thousands of dollars (of course). Indeed… “As the council considered the new law…renters voiced concerns that requiring…
Rentable says that the median nationwide rent price for one-bedroom units in April was $1,131 (up 0.62%) with two-bedroom units coming in at $1387 (up 0.36%). Be sure to check out their full data set of U.S. cities. “The current economic scenario looks a little iffy to us, however, and when we see the inevitable crash, apartment rental price increases may come to a quick halt. For now, though, we look for near-term apartment rental prices to trudge upward…” Click here to read the full report at Rentable.co.
(UPDATED 8/13/21…scroll down) Another federal judge has ruled against the CDC’s nationwide eviction moratorium. According to The Hill, U.S. District Court Judge Dabney Friedrich vacated a nationwide freeze on evictions that was put in place by the federal government last year and recently extended to June 30th. The Hill says it was a a win for a coalition of property owners and realtors, who brought one of several challenges against the CDC’s eviction moratorium. Indeed… “It is the role of the political branches, and not the courts, to assess the merits of policy measures designed to combat the spread of…
The U.S. government is reporting that total construction spending in March was at a seasonally adjusted annual rate of $1,513.1 billion, which is 0.2% above February’s revised estimate. In addition, March’s figure was 5.3% higher than one year ago. Residential construction was at a seasonally adjusted annual rate of $725.2 billion in march, which is 1.7% higher than February’s revised estimate. Click here to read the full report at the U.S. Census Bureau.
Rental information site Zumper recently released their monthly National Rent Report showing that their median national rent for 1-bedroom apartments was $1,245 (down 0.2%) and the median two-bedroom rent was $1,524 (down 0.7%). Be sure to check out their list of the top 100 metro areas. Click here to read the full report at Zumper.
