Author: Brad Beckett

The U.S. Department of Housing & Urban Development (HUD) announced in mid-June that they were extending their moratorium on foreclosures and evictions through August 31, 2020.  The foreclosure moratorium applies to homeowners with FHA-insured Single Family mortgages. “While the economic recovery is already underway, many American families still need more time and assistance to regain their financial footing,” said HUD Secretary Ben Carson. “Our foreclosure and eviction extension means that these families will not have to worry about losing their home as they work to recover from the financial impacts of COVID-19.” Click here to read the full release at…

The U.S. government is reporting that privately‐owned housing starts in May were at a seasonally adjusted annual rate of 974k, which is 4.3% higher than April’s revised number.  May’s rate for units in buildings with five units or more was 291k.  Privately‐owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,220,000, which was 14.4% higher than April’s revised number.  Authorizations of units in buildings with five units or more were at a rate of 434k in May. Click here to read the full report at the U.S. Census Bureau.

Many people are interested in real estate, but don’t really know much about it. They know that it seems that a lot of people have made a lot of money in real estate (or achieved other goals using it), and they wonder if maybe there could be something in it for them, too. National REIA wants to help you understand a little more about the real estate business and real estate investing. We’ve developed this report so you can get an overview of multiple investing strategies and determine whether any of these areas of real estate business or investing sound…

According to ATTOM Data’s latest U.S. Home Flipping Report, home flipping nationwide increased to a 14-year high in Q1 of 2020, while returns dropped to a nine-year low.  ATTOM says there were 53,705 single-family homes & condos flipped in Q1, representing 7.5% of all home sales during the quarter, reaching the highest level since Q2 2006.  In addition, they said the gross profit on the typical flip also increased in Q1, to $62,300, up slightly from $62k in Q4 2019. However with rising home prices, that profit translated into a 36.7% ROI – the lowest level for home flipping since…

The NAHB’s Eye on Housing is reporting that, according to the latest Producer Price Index, the prices of goods used in residential construction increased 0.6% in May.  In addition, they say May marks only the fourth monthly increase in the past 12 months in the price index for residential construction inputs. Click here to read the full report at the NAHB’s Eye on Housing.

For the 7th year in a row, Gallup is reporting that more Americans prefer real estate over other long-term investment vehicles for growing wealth.  When broken down, the numbers show that 35% prefer real estate, 21% prefer the stock market, 17% prefer CDs/bank accounts, and 16% prefer gold. “Americans have become less likely to view stocks or mutual funds as the best long-term investment after U.S. markets dropped by more than a third as the economic implications of the coronavirus outbreak set in last month.” Click here to read the full story at Gallup.com.

Back in March we posted about Zillow pausing its Zillow Offers program due to market uncertainty from the Coronavirus pandemic.   Well, fast-forward to the present with HousingWire reporting that they have resumed homebuying in at least 15 (out of 24) markets where they operate.  In addition the report said Zillow is also launching a health-safety initiative to protect customers, employees and partners. “”Our goal at Zillow is to help people navigate what can be a stressful and complex process, and with Zillow Offers, give them a way to skip over a lot of the hassles and challenges of selling a…

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) declined 0.1% in May, which the BLS says is the first time this index has ever declined in three consecutive months.  However, the indexes for shelter, recreation, medical care, household furnishings and operations, and new vehicles all increased. “Declines in the indexes for motor vehicle insurance, energy, and apparel more than offset increases in food and shelter indexes to result in the monthly decrease in the seasonally adjusted all items index. The gasoline index declined 3.5 percent in May, leading to a…

Sunday, June 14th, is Flag Day across America!  Today’s infographic from Brightspark gives us Flag Day by the Numbers. Who knew Old Glory has been updated 27 times?  And as always, stay safe and have and Happy Friday!!!  And,put your flag out! Hat tip to Brightspark Travel.

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. National Economic Outlook By Ingo Winzer June 10, 2020 – Unexpectedly, the job data for May did not show a worsening of the recession. Compared to the 13 percent loss of jobs in April (from the same month a year ago), the loss in May was 12 percent. This isn’t an improvement, or even a difference, but most people (me too) expected the May loss to be closer to 20 percent. That’s…