Author: Brad Beckett

According to the latest Home Building Geography Index (HBGI), small metro suburbs accounted for the fastest growing geographical areas for single-family construction during Q2 (up 10.6% on a four-quarter moving average basis).  In addition, the Index says the Coronovirus is helping to drive demand for construction in more suburban neighborhoods.  The Home Building Geography Index (HBGI) is a quarterly measurement of building conditions across the country and uses county-level information about single- and multifamily permits to gauge housing construction growth in various submarkets. Key Findings: The increasing demand for construction in more suburban neighborhoods is being driven in large part…

According to CoreLogic’s Single-Family Rent Index (SFRI), single-family rent growth stabilized in July, increasing by 1.7% year over year.  In addition, they report that rent increases slowed across all price levels, though rents for lower-priced homes increased faster than those of higher-priced homes, when compared with a year ago.  CoreLogic’s SFRI measures rent changes among single-family rental homes, including condominiums, using a repeat-rent analysis to measure the same rental properties over time. Click here to read the full report at Corelogic.com.

According to ATTOM Data’s latest U.S. Home Flipping Report, there were 53,621 single-family homes and condominiums flipped in the second quarter, representing 6.7% of all home sales during Q2.  However, ATTOM points out that even though the flipping rate was lower than in Q1, both profits and margins were up, rising to $67,902.  Indeed… “Far fewer house hunters were out in the market looking for homes, which probably cut into the pool of potential buyers that investors could tap. But at the same time, home flippers who were able to close deals did better than they had done in a…

The U.S. government is reporting that privately‐owned housing starts in August were at a seasonally adjusted annual rate of 1,416,000, which is 5.1% below than July’s revised number.  August’s rate for units in buildings with five units or more was 375k.  Privately‐owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,470,000, which was 0.9% higher than July’s revised number.  Authorizations of units in buildings with five units or more were at a rate of 381k in June. Click here to read the full report at the U.S. Census Bureau.

We started seeing this trend a few years ago, well before the Coronavirus pandemic.  Now comes more data from Statista in the form of today’s infographic.  Citing recent data from Pew Research, it shows that 52% of Americans aged between 18 and 29 now live with a parent – which they say is the highest share recorded since the Great Depression-era!  And some of you were looking forward to finally being empty-nesters, indeed…  Stay safe and Happy Friday!!! “The share of young adults currently living with their parents is higher than any previous measurement recorded in surveys and decennial censuses.…

A recent Redfin report says record-low inventory has “created a complete storm of insanity” in small, affordable markets with an exodus of buyers leaving the West Coast.  In fact, they point out several key points to bolster their claim.  Among them are: Median home sale price increased 12% from 2019 to $318,473—the highest on record. Pending home sales climbed 21% year over year, the largest increase since the four weeks ending October 18, 2015. New listings of homes for sale were up 7% from a year ago—the largest increase since the four weeks ending September 23, 2018. During just the…

Are you a member of a local REIA (real estate investors association)?  In a recent episode of the Rent Perfect podcast, David Pickron spoke with Alan Langston, President of Arizona REIA (AZREIA), to discuss the importance of having your local REIA as part of your investing “team.”  Alan explains how your local REIA can be a literal university for learning the in’s and outs of investing in properties and why having a “well thought out plan” can help take your investments to the next level. Click here to listen at Buzzsprout.com. Click here to find a REIA near you! Rent…

Who owns rental properties in America?  Members of National REIA will not be surprised to learn that of the 19+ million rental properties across the nation, 72% are owned by individual investors.  The NAHB’s Eye on Housing recently took a deep-dive into the Census Bureau’s Rental Housing Finance Survey (RHFS) to examine the characteristics of rental housing in the United States.  The RHFS provides measures of financial, mortgage, and property characteristics of rental properties across the country on a current and continuous basis. Another interesting tidbit:  The majority of rental properties in America (86%) are single-unit properties.  Indeed… Click here…

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4% in August.  Interestingly, they point out that the index’s sharp rise for used cars and trucks accounted for over 40% of the increase.  Over the past 12 months, the all items index has increased 1.3% before seasonal adjustment. “The monthly increase in the seasonally adjusted all items index was broad-based; a sharp rise in the used cars and trucks index was the largest factor, but the indexes for gasoline, shelter, recreation, and household furnishings and operations also contributed…” Click here…

The New Civil Liberties Alliance, a nonpartisan, nonprofit civil rights group, recently filed a complaint and request for a temporary restraining order or preliminary injunction in the U.S. District Court for the Northern District of Georgia to challenge the authority of the Centers for Disease Control & Prevention’s (CDC) nationwide eviction moratorium.  The now infamous CDC order was issued on September 4th, 2020 to temporarily stop residential evictions in the name of preventing the further spread of COVID-19.  The NCLA’s client is a landlord from Virginia that is suffering significant economic damages, including over $8k in unpaid rent, monthly maintenance…