Author: Brad Beckett

A new report from Redfin says renters are moving less than ever, with a third staying in the same home for at least 5 years.  They say the soaring cost of buying a home has pushed many to stay put for longer and the high cost of moving has also discouraged renters from moving regularly.  To produce their report, Redfin analyzed 2023 renter tenure data from the U.S. Census Bureau. “Monthly mortgage payments have nearly tripled over the past decade, preventing many renters from being able to buy a home…Rents spiked during the pandemic, but have stayed relatively flat over…

According to the latest CoreLogic Home Price Insights (HPI) report, home prices nationwide, including distressed sales, increased year over year by 3.4% in November, 2024.  CoreLogic predicts that home prices will increase 3.8% through November 2025.  In addition, they say despite pockets of decline, national prices are continuing to trend upward, even in the off-season. “Heading into the end of the year, home prices remained relatively flat though showing some marginal improvement from the weakness seen moving into the fall and following the cooling of homebuyer demand amid the summer mortgage rate surge. Nevertheless, the cooling home price growth trend…

According to the ADP National Employment Report for December, 2024, private sector employment increased by 122k jobs and annual pay was up 4.6% year-over-year. The ADP National Employment Report is an independent and high-frequency view of the private-sector labor market based on the aggregated and anonymized payroll data of more than 25 million U.S. employees. “The labor market downshifted to a more modest pace of growth in the final month of 2024, with a slowdown in both hiring and pay gains…Health care stood out in the second half of the year, creating more jobs than any other sector.”  Said ADP…

According to the U.S. Department of Labor’s Bureau of Labor Statistics, total nonfarm payroll employment increased by 256k in December, 2024 with the unemployment rate coming in at 4.1%.  As always, the BLS says employment in government continued its upward growth trend in December (up 33K) with an average monthly gain of 37k in 2024. Click here to read the full report at the Bureau of Labor Statistics.

Last week we saw the leading states for U-Haul rentals.  Today we’re looking at their top metro areas.  According to the latest U-Haul annual Growth Index, the Dallas-Fort Worth-Arlington metroplex, is U-Haul’s leading 2024 Growth Metro.  In addition, Charlotte, Phoenix, Lakeland and Austin made up the top five U.S. growth metros, seeing the largest net gains of one-way equipment rentals.  U-Haul’s Growth Index was compiled from over 2.5 million one-way U-Haul truck, trailer and moving container transactions.  Indeed… “We are seeing unprecedented growth in the Dallas metro area, both within the city and also suburbs like McKinney, Plano and Addison…The…

We first posted about this back in June;  The Consumer Financial Protection Bureau (CFPB) recently finalized a rule they say will remove around $49 billion in medical bills from the credit reports of nearly 15 million people.  The CFPB says medical debts provide little predictive value to lenders about borrowers’ ability to repay other debts.  The new rule amends Regulation V, which implements the Fair Credit Reporting Act (FCRA) The CFPB’s action will ban the inclusion of medical bills on credit reports used by lenders and prohibit lenders from using medical information in their lending decisions. The rule will increase…

Statista says “Buy Now, Pay Later” (BNPL) services have gained popularity as an alternative to credit cards or other “traditional” payment methods.  In fact, they say 41% of U.S. adults have used Buy Now, Pay Later services in the past 12 months with another 22% saying they haven’t but could in the future.  Indeed…. Stay safe and have a Happy Friday!!! Hat tip to Statista.

Each year, Zumper’s Annual Rent Report takes a deep-dive into past year of data, knowledge of economic trends, Zumper surveys, internal data on renter search, and ongoing conversations with clients, experts, and others in the industry.  They say this intel gives them a comprehensive view of 2024 and a look at what’s to come in 2025. 2024 was the year of the renter. Record high levels of supply came online and many markets that saw dramatic rent spikes in 2022 and 2023, such as cities in Texas, Florida, and Arizona, finally experienced some softening. Renters who moved into new properties…

According to U-Haul’s annual Growth Index, the trend of southern states netting larger numbers of one-way U-Haul rentals continued in 2024, with South Carolina topping U-Haul Growth Index for the first time.  In addition, Texas, North Carolina, Florida and Tennessee round out their five top growth states.  Not surprisingly, California had the greatest net loss of U-Haul equipment and ranks 50th for the 5th year in a row.  U-Haul’s Growth Index was compiled from over 2.5 million one-way U-Haul truck, trailer and moving container transactions.  Indeed… “State-to-state transactions from the past year reaffirm customer tendencies that have been pronounced for…

You will often hear advice from National REIA about the importance of maintaining contact with elected officials as well as candidates for public office.  Its importance cannot be emphasized enough.  With that in mind, on a recent episode of the AZREIA Show, Michael Del Prete talked with Matt Evans, a recent candidate for Mayor of Phoenix, about the challenges & insights, sacrifices, media hurdles, and support he encountered during his recent candidacy.  Despite running as an underdog, Matt garnered support and raised awareness about city leadership.  Ultimately, Matt was unsuccessful but he learned invaluable lessons.  Take a listen… Click here…