Author: Brad Beckett

According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rents were down 0.5% year-over-year in November.  Interestingly, they point out that a “renter exodus” from gateway cities like New York, San Francisco, Washington D.C., Chicago, Boston and Los Angeles continues with these markets exhibiting larger declines in year-over-year rents.  Indeed… “The pandemic-induced rent declines in the gateway markets continued into November. With the decreases getting steeper as the months go on, many are wondering, “When will rents reach the bottom and start to bounce back?” The positive vaccine news bodes well for the gateway markets, but it…

Local Market Monitor, a National REIA preferred vendor, recently released their monthly National Economic Outlook where they share their thoughts on developments taking place in the U.S. economy. As for the 2021 housing market, Ingo Winzer says this: National Economic Outlook By Ingo Winzer December 14, 2020 Way back in April, when the coronavirus hit and many states shut down, the number of jobs in the economy dropped 13 percent – 20 million people. As the months went by that number reduced to 10 million but the pace of improvement got slower and slower until now, for November, there was…

Many real estate investors are owners of short-term rentals – in fact, we’ve covered it extensively.  In early December, Airbnb corporate opened itself up to all investors by going “public” and is now listed on the NASDAQ as ABNB, allowing practically everyone to get in on the action!  In a recent episode of Real Estate News for Investors, Kathy Fettke takes a look at their recent IPO as well as their new Airbnb.org which is partnering with communities to offer housing in emergencies – from natural disasters to COVID-19.  Indeed… Click here to listen at Real Estate News for Investors.

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) was 0.2% in November after being flat in October.  Over the last 12 months, the all items index increased 1.2% before seasonal adjustment. Click here to read the full release at the Bureau of Labor Statistics.

According to the latest CoreLogic Home Price Insights (HPI) report, home prices nationwide, including distressed sales, increased 7.3% year-over-year in October.  CoreLogic predicts that home prices will increase on a month-over-month basis by 0.4% through October 2021, and on a year-over-year basis by 1.9% through October 2021 – both of which are higher numbers than their last report.  However, the effects of the pandemic are being felt: “The pandemic has shifted home buyer interest toward detached rather than attached homes. Detached homes offer more living space and are typically located in less densely populated neighborhoods. And while prices of single-family…

The National Multifamily Housing Council (NMHC) says that 75.4% of apartment households made a full or partial rent payment by December 6th, 2020.  This figure is 7.8% lower than those who paid rent through December 6, 2019 and compares to 80.4% that paid by November 6th, 2020.  The data comes from the NMHC’s Rent Payment Tracker which uses data from 11.4 million professionally managed apartment units across the country. “While the initial rent collection figures for the first week of December are concerning, only a full month’s results will paint a complete picture. However, it should not come as a…

The VisualCapitalist says that real estate value is concentrated in our larger cities.  Today’s infographic shows how they stack up and reveals the median value of a home in America’s 30 most valuable cities.  It will be interesting to see if they revisit this data, post-pandemic.  Indeed…  Stay safe and have a Happy Friday!!! Hat tip to the Virtual Capitalist.

The Wall Street Journal is reporting (reposted on Realtor.com) that refrigerators, ovens and other appliances are getting a hygienic makeover during the Covid-19 pandemic.  They say manufacturers are rolling out home appliances featuring sanitizing heaters and ultraviolet light as shut-in consumers seek these types of upgrades.  In fact, the WSJ calls it a “hard pivot toward hygiene” as the pandemic is showing no sign of letting up.  Indeed… According to Mark Choe, a senior vice president at Samsung’s digital appliances business division, “all of our product development now is being done through the lens of hygiene.” “…virus-weary buyers are perking…

According to recent numbers crunched by the NAHB’s Eye on Housing, new home inventory is sitting at a 3.5-year low.  They point out that even with the level of sales remaining high, they exceeded construction starts by historic margins at the end of summer – driving new home inventories to a more than three-year low.  Indeed… “Despite recent flat growth conditions, the October sales rate was 42% higher than a year ago, as housing demand continues to be supported by low interest rates, a renewed consumer focus on the importance of housing, and rising demand in lower-density markets like suburbs…

As we have seen over and over again, there is a dearth of housing inventory all across the nation.  While the reasons have many variations, the fact remains – there is a housing shortage.  A recent article in the New Hampshire Union Leader featured a member of the New Hampshire Real Estate Investors Association that is adding value back into neighborhoods by flipping distressed homes.  Interestingly, as the Union Leader points out, the threat of COVID-19 has caused some sellers to shy away from allowing potential buyers to tour their homes.  However, this unfortunate aspect has not been a barrier…