The Federal Housing Finance Agency (FHFA) announced they are extending their moratorium on foreclosures and evictions from single-family foreclosures and real estate owned (REO) through January 31, 2021. The foreclosure moratorium applies to Enterprise-backed (Fannie Mae & Freddie mac), single-family mortgages only. The REO eviction moratorium applies to properties that have been acquired by an Enterprise through foreclosure or deed-in-lieu of foreclosure transactions. The current moratorium was set to expire at the end of December. “Extending Fannie Mae and Freddie Mac’s foreclosure and eviction moratoriums through January 2021 keeps borrowers safe during the pandemic,” said Director Mark Calabria. “This extension…
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
The U.S. government is reporting that total construction spending in October was at a seasonally adjusted annual rate of $1,438.5 billion, which is 1.3% above than September’s revised estimate. In addition, October’s figure was 3.7% higher than October, 2019. Residential construction was at a seasonally adjusted annual rate of $637.1 billion in October, which is 2.9% higher than September’s revised estimate.Click here to read the full report at Census.gov.
Rental information site Zumper recently released their National Rent Report for December, 2020 showing that their median national rent for 1-bedroom apartment was $1,224 and the median two-bedroom rent was $1,487 (up 0.3%). Year to date, rent for one-bedrooms were up 0.6 and two-bedroom rent was up 1.8%. Click here to read the full report at Zumper.com.
The National Association of Realtors is reporting that pending home sales declined 1.1% in October, 2020. The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) fell slightly to 128.9 with only one major region experiencing an increase in month-over-month contract activity. In addition, they reported that year-over-year contract signings were up 20.2%, year-over-year. “Pending home transactions saw a small drop off from the prior month but still easily outperformed last year’s numbers for October,” said Lawrence Yun, NAR’s chief economist. “The housing market is still hot, but we may be starting to see rising home prices…
According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), U.S. house prices were up 1.7% in September, 3.1% in Q3 and up 7.8% from one year ago. The FHFA produces the nation’s only public, freely available house price indexes (HPIs) that measure changes in single-family house prices based on data that cover all 50 states and over 400 American cities and extend back to the mid-1970s. The FHFA’s HPIs are built on tens of millions of home sales and offer insights about home price fluctuations at the levels of the nation, census division, state, metro area,…
The U.S. Government is reporting that sales of new single-family houses in October, 2020 were at a seasonally adjusted annual rate of 999,000 which is 0.3% lower than September’s revised rate, and is 41.5% higher than one year ago. The median sales price of new houses sold in October was $330,600 with an average sales price of $386,200. There were an estimated 278k new houses for sale at the end of October representing a 3.3-month supply at the current sales rate. Click here to read the full report at the U.S. Census Bureau.
Are you a landlord concerned about drug use in your properties – especially now that in many states the laws have drastically changed regarding marijuana? On a recent episode of the Rent Perfect Podcast, David Pickron discusses the impact of legalized recreational marijuana use in rental properties with Attorney Mark Zinman (an expert in landlord tenant law). David says It’s critical to remember that this is your property, and your policies are what will protect you from abuse by your tenants. However, with that being said, make sure you talk with a local attorney about the applicable laws in your…
According to the latest S&P CoreLogic Case-Shiller Indices, covering all nine U.S. census divisions, the rate of home price increases reported a 7% annual gain in September, 2020. Their 10-City Composite annual increase came in at 6.2% and the 20-City Composite posted a 6.6% year-over-year gain. The S&P CoreLogic Case-Shiller Home Price Indices are one of the leading measures of U.S. residential real estate prices, tracking changes in the value of residential real estate both nationally as well as in 20 metropolitan regions. Click here to read the full report at S&P Dow Jones Indices.
What started back in 2007 has grown into a global phenomenon. Statista reminds us that Airbnb hosts have welcomed guests in more than 220 countries and regions around the world and earned over $110 billion in the process. And, in the last 5 years alone their bookings have more than quadrupled, as evidenced by today’s infographic. Of course it will be interesting to see how 2020 pans in light of the Coronavirus pandemic. Stay safe and have a Happy Friday!!! Hat tip to Statista.
Who doesn’t love good data? With that being said, the folks over at Statista said that in 2019 there were approximately 43 million housing units occupied by renters in the United States. They point out that while this number has remained relatively steady since 2014, it has increased significantly since 1975. Click here to read the full post at Statista.com.
