Author: Brad Beckett

The National Association of Realtors is reporting that existing home sales were down 1.3% in January which the Realtors say continues a fluctuating pattern of monthly increases and declines.  However, like last month, existing home sales were up 9.6% year-over-year.  Total housing inventory at the end of January was 1.42 million units, up 2.2% from December and down 10.7% from one year ago. Total unsold inventory was at a 3.1-month supply (the lowest since 1999) at the current sales pace with properties remaining on the market for around 43 days. The median existing-home price for all housing types was $266,300,…

The U.S. government is reporting that privately‐owned housing starts in January were at a seasonally adjusted annual rate of 1,567,000. This is figure 3.6% below than December’s revised rate but is 21.4% higher than one year ago.  Single‐family housing starts in January were at a rate of 1,010,000, which is 5.9% below December’s revised figure.  January’s rate for units in buildings with five units or more was 547k.  Privately‐owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 1,551,000. This figure is 9.2% above December’s revised rate and is 17.9% higher than January,…

According to recent data from the National Center for Health Statistics (illustrated here by Statista), here in the U.S. death rates are down and, for the first time since 02014, life expectancy is up!  So, get out there and live life to its fullest!  Happy Friday! Hat tip to Statista.

We’ve read a lot about how the lack of inventory has contributed to the rising costs of housing nationwide.  With that issue in mind, the National Association of Realtors put together an interactive graphic highlighting the issue by showing areas of country where housing is in short supply and where it is plentiful.  Interestingly, it uses building permit data correlated with job creation data from the Department of Labor. Click here to read see the interactive chart at the National Association of Realtors.

We have posted a lot about how government intervention (i.e. rent control and other consequences of excessive regulation) has perverted the marketplace and has actually hurt the ability of real estate investors (and others) to provide quality, affordable housing.  Now comes the latest “America’s Rental Housing” report from Harvard’s Joint Center for Housing Studies that says “it has become harder than ever for middle-income Americans to pay the rent.”  Indeed, it has, but maybe not for the reasons and solutions they present – such as climate change and the so-called “promising strategies” that local governments have been pursuing.  Not surprisingly,…

In case you didn’t notice, there is a presidential election taking place this year on November 3rd and along with it come all of the requisite primaries and caucuses happening across the fruited plain.  It’s exciting and it’s part of the rich fabric of America!  Previously, we’ve posted about the importance of staying informed about local issues as well as developing working relationships with elected officials.  And, let’s not forget that most of those men & women who represent us in Washington are up for election this year!  For now, let’s focus on that ever-so-lively race to be the nation’s…

RENTCafe is reporting that the average apartment rent for January came in at $1,463, up 3% from one year ago.  RENTcafe gathers their data from the Yardi Matrix, the U.S. Census Bureau, the U.S. Bureau of Labor Statistics, the U.S. Department of Housing and Urban Development and other public (government and third-party) databases. “Rents are likely to maintain an upward streak throughout 2020, as the number of renters continues to rise in the U.S. The demand for apartments is high, including among those renting by choice.” Click here to read the full report at RentCafe.com.

This might be good news if you’re a landlord:  A recent survey from FreddieMac reveals that affordability issues remain a top concern for those looking to rent or purchase a home.  However, the survey found that 84% of renters (which they call unprecedented) say renting is more affordable than owning AND a majority of renters (62%) say they are satisfied with their current rental experience.  Interestingly, 73% of renters feel that minor or no renovations should be made to their rental property – which FreddieMac says is a strong sign that they’re happy with their current rental.  Indeed…. “while vast…

Generation Z might be sneaking up on us but mark our words, they will not be ignored.  We have had a few posts about this rising cohort and now we’re starting to see them enter the housing market.   A recent report by Realtor.com looks at recent mortgage origination data to give us a snapshot of each generation’s share of homebuying.  There is a lot of good data in this report including a list of the largest 100 metros, ranked by Generation Z’s Home Loan Origination Share. Some takeaways The Generation Z share of primary home loan originations is about 2%…

Marijuana legalization is a “burning” topic all across the country.  We have even had several posts on the subject.  However a new report from the National Association of Realtors seeks to shed light on legalization’s impact on the real estate industry.  They point out that in states where marijuana is legal, the product is grown, harvested, stored, sold, and consumed within the state lines.  And as such, this activity increases demand for land, warehouses and retail locations for the product.  In addition, they discuss the issue of marijuana being used in rental properties, HOAs creating rules, and title questions about…