A new report from the NY Fed says total household debt rose by $313 billion (2.1%) to reaching $14.96 trillion in Q2, 2021. According to their latest Quarterly Report on Household Debt and Credit, mortgage balances was the largest component of household debt, rising by $282 billion. In addition, auto loans increased by $33 billion, credit card balances ticked up by $17 billion and student loan debt actually decreased by $14 billion. This is an information-rich report with 40+ pages of graphs and charts. Indeed… Click here to read the full report at the NY Fed.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
According to ATTOM Data’s second-quarter 2021 Opportunity Zones report median single-family home prices increased from Q2 of 2020 to the second quarter of 2021 in 75% of Opportunity Zones and rose by at least 15% in about half of them. In addition they report that price patterns in Opportunity Zones continued to roughly track trends in other areas of the U.S. “Housing markets kept chugging along in some of the nation’s poorest neighborhoods during the second quarter of this year in another sign that the decade long home-price boom across the nation knows pretty much no boundaries. Values kept rising…
According to the latest CoreLogic Loan Performance Insights Report, the serious delinquency rate (90 days or more past due) was 3.2% in May, roughly two times that of a year earlier but down from a recent high of 4.3% in August 2020 and down to the lowest rate since the initial jump in serious delinquencies in June 2020. In addition, they report that the nation’s overall delinquency rate was 4.7% in May with all U.S. states and metro areas posting annual decreases in their overall delinquency rates. “The share of mortgages that were 30 to 59 days past due —…
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 August, 2021 The economy continues to improve but apparently not fast enough to bring jobs back into positive territory by the end of the year. There are still 4 million fewer jobs than before covid. In some sectors of the economy, like construction and finance, jobs are already above pre-pandemic levels; but a million are still missing in healthcare/education and a million at restaurants. This may…
According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rents in July increased $26 to $1,510 (up 8.3% year-over-year). Yardi says single-family (Built-to-Rent) rents continue to grow at an even faster pace than multifamily, with national rents up 12.8% year-over-year. In addition, out of their top 30 markets, nearly half had double-digit year-over-year rent growth. Indeed… “Strong demand for apartments has produced a remarkable recovery across the country. Lower cost metros that fared well during the pandemic continue to outperform, but Gateway metros are also roaring back.” Click here to read the full report at Yardimatrix.com.
The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) was 0.5% in July, 2021. Over the last 12 months, the all items index increased 5.4% before seasonal adjustment Click here to read the full release at the Bureau of Labor Statistics.
Since Al Gore Invented the internet back in, ahem, whenever, sometime along the way the world wide web came in to being and since then there has been an absolute explosion of websites. Today’s chart from Statista graphically illustrates the number of websites online since 1991. Wow…1.88 billion sites….That’s a lot of real estate to surf….. As always, stay safe and have a Happy Friday!! Hat tip to Statista.
A new report from Redfin says the median sale price prices of Mid-Priced and Affordable homes grew 16% and 13.2%, respectively, Most-Affordable homes rose 18.7%, with Luxury homes jumped 25.8% year over year in Q2 2021. “Home prices and sales plummeted at the beginning of the pandemic, but have now more than recovered—especially in the luxury and most affordable price tiers—due to low mortgage rates and strong homebuyer demand during the pandemic.” Said Daryl Fairweather, Redfin’s Chief Economist Click here to read the full story at Redfin.com.
On a recent episode of Real Estate News for Investors, Kathy Fettke says competition is so fierce among homebuyers, that we’re seeing a surge in all-cash offers. In fact, a recent Redfin study said that all cash-offers are up almost 5% nationwide in the last year. There are also a host of start-ups popping up that will help buyers make cash offers and they are expanding. Cash is king… Click here to listen on Spotify.com.
The National Multifamily Housing Council (NMHC) says that 80.2% of apartment households made a full or partial rent payment by August 6th, 2021. This figure is 0.9% higher than those who paid rent through August 6, 2020. The data comes from the NMHC’s Rent Payment Tracker which uses data from 11.7 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.
