Author: Brad Beckett

According to the latest home flipping report from ATTOM Data, gross returns for home flippers soared to their highest level in 20 years. The report said there were just over 57k single-family homes and condominiums flipped in Q3 2020.  As CNBC’s Diana Olick reports, ATTOM attributes the gains to the effects of the worldwide coronavirus pandemic.  She also points out that Investors have sold for at least double their purchase price in 14 U.S. markets.  Indeed… “This all happened in the context of the pandemic, which has created unusual circumstances for the housing market to thrive, and that has included…

The U.S. government is reporting that privately‐owned housing starts in November were at a seasonally adjusted annual rate of 1,547,000, which is 1.2% above October’s revised number.  November’s rate for units in buildings with five units or more was 352k.  Privately‐owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,639,000, which was 6.2% higher than October’s revised number.  Authorizations of units in buildings with five units or more were at a rate of 441k in November. Click here to read the full report at the U.S. Census Bureau.

Now that the fireworks have finally settled down and whether you feel cheated or vindicated, one thing is clear;  the venerable Electoral College has met and voted to officially declare former Vice President Joe Biden the next President of the United States.  Next stop, January 20th. With that in mind, today’s infographic from Statista reminds us that Biden is set to become the oldest president in U.S. history.  Have a safe and Happy Friday!!! Hat tip to Statista.

There has been a lot of discussion about how Amazon pulled the plug on its 2nd HQ in New York City back in early 2109.  A recent article in the Washington Post takes a look at the areas around Arlington, VA where Amazon decided to place its 2nd HQ outside of Seattle.  The Post says that decision “set off a frenzy of real estate speculation”  and they report that while it remains heated, it’s not necessarily because of Amazon.  This past May, report say sales and prices not only jumped in the area surrounding the Amazon HQ but across the…

According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rents were down 0.5% year-over-year in November.  Interestingly, they point out that a “renter exodus” from gateway cities like New York, San Francisco, Washington D.C., Chicago, Boston and Los Angeles continues with these markets exhibiting larger declines in year-over-year rents.  Indeed… “The pandemic-induced rent declines in the gateway markets continued into November. With the decreases getting steeper as the months go on, many are wondering, “When will rents reach the bottom and start to bounce back?” The positive vaccine news bodes well for the gateway markets, but it…

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. As for the 2021 housing market, Ingo Winzer says this: National Economic Outlook By Ingo Winzer December 14, 2020 Way back in April, when the coronavirus hit and many states shut down, the number of jobs in the economy dropped 13 percent – 20 million people. As the months went by that number reduced to 10 million but the pace of improvement got slower and slower until now, for November, there was…

Many real estate investors are owners of short-term rentals – in fact, we’ve covered it extensively.  In early December, Airbnb corporate opened itself up to all investors by going “public” and is now listed on the NASDAQ as ABNB, allowing practically everyone to get in on the action!  In a recent episode of Real Estate News for Investors, Kathy Fettke takes a look at their recent IPO as well as their new Airbnb.org which is partnering with communities to offer housing in emergencies – from natural disasters to COVID-19.  Indeed… Click here to listen at Real Estate News for Investors.

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) was 0.2% in November after being flat in October.  Over the last 12 months, the all items index increased 1.2% before seasonal adjustment. Click here to read the full release at the Bureau of Labor Statistics.

According to the latest CoreLogic Home Price Insights (HPI) report, home prices nationwide, including distressed sales, increased 7.3% year-over-year in October.  CoreLogic predicts that home prices will increase on a month-over-month basis by 0.4% through October 2021, and on a year-over-year basis by 1.9% through October 2021 – both of which are higher numbers than their last report.  However, the effects of the pandemic are being felt: “The pandemic has shifted home buyer interest toward detached rather than attached homes. Detached homes offer more living space and are typically located in less densely populated neighborhoods. And while prices of single-family…

The National Multifamily Housing Council (NMHC) says that 75.4% of apartment households made a full or partial rent payment by December 6th, 2020.  This figure is 7.8% lower than those who paid rent through December 6, 2019 and compares to 80.4% that paid by November 6th, 2020.  The data comes from the NMHC’s Rent Payment Tracker which uses data from 11.4 million professionally managed apartment units across the country. “While the initial rent collection figures for the first week of December are concerning, only a full month’s results will paint a complete picture. However, it should not come as a…