The U.S. government is reporting that total construction spending in August was at a seasonally adjusted annual rate of $1,412.8 billion, which is 1.4% above than July’s revised estimate. In addition, August’s figure was 2.5% higher than August, 2019. Residential construction was at a seasonally adjusted annual rate of $589.4 billion in August, which is 3.7% higher than July’s revised estimate. Click here to read the full report at Census.gov.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
National Fire Prevention Week runs October 4-10th, 2020 and one of the best ways to celebrate is to check all your properties’ smoke alarms for functionality and age. If you have one that’s over than 10 years old, that means it’s time to replace it! And when you do, National REIA recommends both ionization and photoelectric technologies be used in all your properties. You should also have a working & tested carbon monoxide detector and fire extinguisher in each unit as well. In this case, an ounce of prevention is worth a ton of cure…as well as saving lives! As…
The National Association of Realtors is reporting that pending home sales jumped 8.8% in August – marking four consecutive months of increases! The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) rose to 132.8 with every major region experiencing an increase in month-over-month contract activity. In addition, they reported that year-over-year contract signings were up 24.2%. “While I did very much expect the housing sector to be stable during the pandemic-induced economic shutdowns, I am pleasantly surprised to see the industry bounce back so strongly and so quickly.” Said Lawrence Yun, NAR’s chief economist. Click here…
What is the median household income in every state? That’s an important question for investors seeking new markets or tracking current ones. The U.S. Census Bureau recently put together an interactive map (using the most recent data available) where you can drill down into more information about household income. Just click on the map below to make it interactive. Click here to read the full report at the U.S. Census Bureau.
A recent report from RENTCafé says that thanks to an all-time high in conversions, yesterday’s factories are today’s Apartments. The report says that of the nearly 2k buildings converted over the last 70 years, 800 were done in the last decade alone. Interestingly, they say point out that old factories are the all-time most popular type of building to be converted into rentals. To come up with their data, they used the Yardi Matrix to reveal where these projects were most common as well as their previous use. Indeed… “The U.S. has its fair share of beautiful old buildings —…
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 4.8% annual gain in July, 2020. Their 10-City Composite annual increase came in at 3.3% and the 20-City Composite posted a 3.9% 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. “In previous months, we’ve noted that a trend of accelerating increases in the National Composite Index began…
According to Black Knight’s “first look” report for August, 2020, an improvement in early-stage delinquencies was offset by a 5% increase in serious delinquencies (those 90+ days past due) which have now risen in each of the past five months. Black Knight says that overall, the national delinquency rate fell just 0.03 basis points from July after declining a combined 0.85 basis points over the prior two months, which they say is a “noticeable slowing in the rate of improvement.” In addition, they point out that there are nearly 2 million more seriously delinquent homeowners than at pre-pandemic levels, however…
According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), U.S. house prices were up 1% in July and were up 6.5% 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, county, ZIP…
Are you a landlord trying to come to terms with all the eviction moratoriums that are gripping the industry? On a recent episode of the Rent Perfect Podcast, David Pickron discusses how during a time of no evictions, collections could be your ultimate solution. His guest is Don Darnell from US Collections West who adds his professional expertise and insight to this timely conversation. “The CDC Eviction Moratorium is forcing landlords to stay afloat in unprecedented ways, even if that means turning your tenants over to collections.” Click here to listen at BuzzSprout.com. Rent Perfect is the solution rental…
The U.S. Government is reporting that sales of new single-family houses in August, 2020 were at a seasonally adjusted annual rate of 1,011,000, which is 4.8% higher than July’s revised rate, and is 43.2% higher than one year ago. The median sales price of new houses sold in August was $312,800 with an average sales price of $369k. There were an estimated 282k new houses for sale at the end of August representing a 3.3-month supply at the current sales rate. Click here to read the full report at the U.S. Census Bureau.
