According to the National Association of Realtor’s 2021 Home Buyers and Sellers Generational Trends report, millennials continue to make up the largest share of homebuyers coming in at 37%. In fact, millennials have been the largest share of buyers since NAR’s 2014 report. The 2021 report shows 82% of younger millennials and 48% of older millennials were first-time homebuyers, more than other age group. The NAR’s report also shows that multigenerational homes increased over the last year, as a rising number of homebuyers purchased larger residences compared to prior years. Indeed… Some key points: 18% of Generation X buyers purchased…
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
The National Multifamily Housing Council (NMHC) says that 79.8% of apartment households made a full or partial rent payment by April 6th, 2021. This figure is 1.8% higher than those who paid rent through April 6, 2020. The data comes from the NMHC’s Rent Payment Tracker which uses data from 11.6 million professionally managed apartment units across the country – representing a wide variety of market-rate rental properties that can vary by size, type and average rental price. “This month’s data is more evidence of a recovering economy and the resilience of the multifamily industry,” said Doug Bibby, NMHC President.…
According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rents in March increased $6 to $1,407. In addition, Yardi says multifamily rents had one of the strongest first quarters in a few years, with rents up 0.8% from the previous quarter. Indeed… “Enactment of the American Rescue Plan authorized the injection of $1.9 trillion into the economy. The two most recent aid packages (the American Rescue Plan and the Consolidated Appropriations Act) have provided a combined $50 billion of emergency rental assistance and other support to the housing industry. This funding is bound to have a positive…
Time is the one finite resource that we closely guard and often, carefully choose how we spend it. Today’s interactive infographic from the Visual Capitalist takes a look at who Americans exactly spend their time with and for how long. They say that if the global pandemic has taught us anything, it is that humans truly are social creatures with most of us needing community & connection to thrive. Indeed…..Stay safe and have a Happy Friday!!! “Regardless of who we spend the most time with, the pandemic revealed the importance of human connection to our wellbeing. While many are still…
The NAHB recently released their annual What Home Buyers Really Want report that they say sheds light on the housing preferences of the typical home buyer as well as how those preferences change over time, and how they may vary based on demographic factors. To get their data, the NAHB commissioned a nationwide survey of 3,247 recent & prospective home buyers in the summer of 2020. Respondents were carefully selected and weighted to represent the actual universe of home owners in the country, in terms of their geographic distribution, age, income and racial/ethnic composition. Indeed… “Prior to COVID-19, 26% of…
On a recent episode of the Rent Perfect Podcast, David Pickron says the current tenant/landlord climate feels like a good old-fashioned game of musical chairs. As housing providers anticipate the end of the CDC’s eviction moratorium, it’s critical for landlords to know and prepare for what’s next. Pickron and his guest discuss the three types of current tenants and how to work with each distinct group to protect your asset and your bottom line. Click here to listen on Spotify.com. (UPDATE 4/13/21) This podcast was excerpted into an article over at the Rental Housing Journal. Click here to read it.…
According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), U.S. house prices were up 1% in January and up 12% 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 code,…
A new rule proposed by the Consumer Financial Protection Bureau (CFPB) seeks to prevent a wave of foreclosures as some pandemic protections for homeowners are set to expire. According to CNBC, the rule, which would apply to all mortgages federal & private, will prevent mortgage servicers from initiating a foreclosure against delinquent borrowers through December 31, 2021. The CFPB says 1.7 million borrowers could be at risk of foreclosure when the forbearance program ends in September and this number is higher than anything mortgage servicers have ever seen. The proposed rule will still need final approval. Stay tuned. “CFPB’s approach…
Rentable says that the median nationwide rent price for one-bedroom units in April was $1,121 (down 0.27%) with two-bedroom units coming in at $1378 (down 0.29%). Interestingly, they point out that none of the cities in their top ten loser/gainer lists moved more than 9%. Be sure to check out their full data set of U.S. cities. Interestingly, they urge caution about potential inflation: “In our view, loads of stimulus money and a quickly recovering economy equal inflation danger, and that alone will put upward pressure on one- and two-bedroom rental prices.” Click here to read the full report at…
The U.S. government is reporting that total construction spending in February was at a seasonally adjusted annual rate of $1,516.9 billion, which is 0.8% below January’s revised estimate. However, February’s figure was 5.3% higher than one year ago. Residential construction was at a seasonally adjusted annual rate of $717.9 billion in February, which is 0.2% lower than January’s revised estimate. Click here to read the full report at the U.S. Census Bureau.
