Author: Brad Beckett

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 January, 2021 The latest job figures and health bulletins give us a bit more insight into the dynamics of the pandemic. The slow improvement of the job situation has come to a halt as covid infections and deaths are reaching new highs. The fact that many people have given up on public health measures to control the virus – even as vaccines are actually here -…

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) was 0.4% in December.  Over the last 12 months, the all items index increased 1.4% before seasonal adjustment. Click here to read the full release at the Bureau of Labor Statistics.

According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rents were down 0.8% year-over-year in December.  Overall, rents declined by $4 to $1,462 – which they say is the largest one-month decline since the beginning of the pandemic.  Indeed… “2020 will go down as the year COVID-19 changed everything. As the pandemic became rampant, many initially feared that rents would rapidly decline.  But many metros have emerged from 2020 unscathed, and some have even enjoyed significant rent growth. Others have not been so lucky, especially expensive coastal markets.” Click here to read the full report at YardiMatrix.com.…

We love news…especially news about real estate investing.  And, why not.  This is the news site for National REIA and we want our members to be both successful and well-informed!  With that in mind today’s infographic from Statista reveals just how Americans by generation consume the news.  Stay safe and have a Happy Friday!!! “New survey data shows a vast majority of newer generations in the U.S. get much of their news strictly from smart devices like phones, computers and tablets, while older generations are still receiving news from more traditional media like televisions, radio and print.” Hat tip to…

Zillow says that the typical home value in the U.S. is about $263k, however the number of “million-dollar cities” spiked sharply in 2020.  According to their analysis, million dollar cities are those with a typical home value of at least $1 million.  Zillow says at the end of 2020 there were 312 of these cities – 45 more than in 2019, which Zillow says was fueled by the Coronavirus pandemic.  So where are these cities?  As you might have guessed, more than 70% of them are concentrated in nine coastal metros, primarily San Francisco, New York and Los Angeles.  Indeed……

On a recent episode of Real Estate News for Investors, Kathy Fettke discusses how inventory has hit a new low while home prices are continuing to rise as well as other recent news affecting the real estate market.  Kathy Fettke is the Co-Founder and Co-CEO of RealWealth. She is passionate about researching and then sharing the most important information about real estate, market cycles and the economy.  Click here to listen at Real Estate News for Investors.

In their 44th annual National Movers study, United Van Lines says Americans are moving west and south – with the Coronavirus pandemic further accelerating those moves.  According to the report, Idaho had highest percentage of inbound migration with New Jersey experiencing the largest percentage of outbound moves.  They also found that 40% of Americans who moved for a new job, and 27% moved to be closer to family. “United Van Lines’ data makes it clear that migration to western and southern states, a prevalent pattern for the past several years, persisted in 2020,” said Michael A. Stoll, economist and professor…

According to recent analysis from the Wall Street Journal (reposted by FOX Business), there hasn’t been this many single-family homes under construction in the U.S. since 2007.  However, as they point out, many of these new homes won’t be up for sale but are being built solely for rent, driven by an increasing demand for suburban living.  Indeed… “The Covid-19 pandemic sparked a race for space among Americans, and home prices have surged to records. The gains have outpaced wage growth, straining affordability despite historically low borrowing costs.” “The build-to-rent boom was sparked a couple of years ago, when the…

Rentable (formerly known as ABODO) says most Americans will be happy to have 2020 behind them – especially after dealing with the Coronavirus pandemic for most of the year.   Their recent 2020 Rental Market Review says that nationally, rents, on average, went up however some larger metro areas saw steady declines.  Their Annual Rent Report drilled-down to take a closer look at the enitre year in renting and sought to answer the following questions: How did rent prices change nationally? At the state level? Where did rent increase the most during 2020, and where did it decline? Where are the…

A recent “chart of the week” from the Mortgage Bankers Association highlights the various metrics around extended unemployment during the (still) ongoing Coronavirus pandemic.  They point out that the pandemic continues to impact the labor market and that total employment remains 6.5% below where it was in February, 2020. “The COVID-19 pandemic continued to impact the labor market to close 2020. Today’s release from the U.S. Bureau of Labor Statistics showed that faster layoffs led to a loss of 140,000 jobs in December and kept the headline unemployment rate (U-3) at 6.7 percent. Total employment remains 6.5 percent below the…