Author: Brad Beckett

The U.S. government is reporting that total construction spending in August, 2025 was at a seasonally adjusted annual rate of $2,169.5 billion, up 0.2% from July’s revised number.  In addition, August’s estimate is 1.6% lower than one year ago.  Residential construction came in at a seasonally adjusted annual rate of $914.8 billion in August, which is 0.8% higher than July’s revised estimate. ** Editor’s Note – with the U.S. government back in business, the numbers are starting to roll in, albeit late.  ** Click here to read the full report at the U.S. Census Bureau.

According to the latest ICE Mortgage Monitor, the national delinquency rate fell 2 basis points (bps) in September to 3.42% –  this figure is down 6 bps from the same time last year.  ICE says FHA loans now account for 47% of all delinquencies and 52% of all serious delinquencies (90+ days past due but not in foreclosure).   Interetsingly, only 25% of FHA loans that are 90 or more days late are in foreclosure – the lowest share of any product.  However, they do point out that FHA guidelines are changing this fall and that share may be poised to…

A recent report from RentCafe says the wave of adaptive reuse projects is accelerating at a record pace with Hotels taking the top category for adaptive reuse projects last year.  Overall, the number of apartments resulting from converted buildings was close to 25k in 2024. That number is 50% more than the units delivered in 2023 and double from 2022. Some key takeaways: Close to 25k apartments were completed in 2024 from adaptive reuse projects across the U.S. Office conversions accounted for nearly one quarter of all new units. Hotels were, once again, the top category for adaptive reuse projects…

According to the latest Yardi Matrix Multifamily Report, multifamily rents posted gains in October, 2025 with the average U.S. advertised rent dropping $4 to $1,743 and year-over-year rent growth came in at 0.5%.  Yardi says rents continued to drop in October in the face of weakening demand amid economic uncertainty and deteriorating consumer health. “U.S. multifamily advertised rents declined by $4 in October, marking the third consecutive monthly decrease and the third straight October with a similar drop. The pullback highlights the effects of deteriorating consumer confidence, persistent inflation and labor market weakness—signs that the sector may be entering a…

According to the latest Cotality (formerly CoreLogic) Home Price Insights (HPI) report, price growth in September rose 1.2%.  In addition, they say the housing market is continuing to cool off as summer goes into fall.  Interestingly, they point out that nationwide home prices are starting to sag as inventory reaches its highest level since 2019. “Although recent declines in mortgage rates have provided support for housing activity, broader improvements in demand will depend on the strength of the labor market and corresponding consumer confidence.” Said Dr. Selma Hepp, Cotality’s Chief Economist. Click here to read the full report at Cotality.…

Good cyber security is something that affects everyone.  We now live in a world where we can no longer have nice things like simple, easy to remember passwords because of online mischief.  With all that in mind, the folks at Hive say whether you’re training employees, updating your password policy, or just want to see if your own password would survive the hour, their table shows reality.  Indeed it does…. Stay safe (especially online) and have a Happy Friday!!! “Password reuse, short character lengths, and weak complexity remain some of the easiest ways attackers gain access to systems. The 2025…

New data from Redfin shows that the typical luxury home sold for $1.26 million in September 2025, up 4.8% from a year earlier and a record high for the month. This rate is just over twice the pace of price growth for non-luxury homes, which rose 1.8% year over year to a median price of $371,583. Some takeaways: The typical U.S. luxury home sold for $1,262,000 in September, up 4.8% from a year earlier. Luxury home sales were essentially unchanged (+0.3%) from a year earlier. Non-luxury home sales fell 0.3% year over year, remaining near their lowest level since at…

According to the ADP National Employment Report for October, 2025, private sector employment decreased by 42k jobs and pay was up 4.5% 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. “Private employers added jobs in October for the first time since July, but hiring was modest relative to what we reported earlier this year. Meanwhile, pay growth has been largely flat for more than a year, indicating that shifts in supply and demand are balanced.”  Said…

Last month we featured an infographic with a state by state breakdown of American’s on Welfare.  That being said, with all of the recent hullabaloo (and controversy) over funding for SNAP benefits during the government shutdown, the folks at Brilliant Maps put together an interactive map of households by congressional receiving SNAP benefits (aka food stamps).    Be sure to look at their complete list of all congressional districts which can be sorted several different ways. Click read the full report at Brilliant Maps.

According to ATTOM Data’s Q4 2025 Vacant Property and Zombie Foreclosure Report, there were nearly 1.4 million residential properties in the U.S. sitting vacant in Q4.  That figure represents 1.32% of residential properties in the United States (about 1.4 million homes) that were vacant.  In addition, there were 228,943 residential properties nationwide that were in the process of foreclosure during Q4.  Of those homes, 3.25% (about 7,448 homes) were “zombie” properties, meaning they had been abandoned by their owner prior to the conclusion of the foreclosure proceedings. That was down from a 3.38% zombie rate in Q3 2025.  To produce…