Author: Brad Beckett

Redfin says that small towns and rural areas may be set to boom in the wake of the Coronavirus pandemic as homebuyer interest in America’s less populous areas saw a surge in March.  Interestingly, their data show that pageviews of homes in rural areas & small towns were up 115% and 88% respectively, however, pageviews for homes in urban metro areas (with populations > 1 million) decreased 10% over the same period.  They do point out that the spike in interest in rural areas has not yet translated into an increase in actual sales, but the decline in pending sales…

Do you have any short-term rental investments that have been affected by the Coronavirus?  On a recent episode of Real Estate News for Investors, Kathy Fettke discusses the impact the pandemic has had on the short-term rental industry as well as what Airbnb has been doing to address it. “Airbnb has set up a fund to help hosts dealing with coronavirus cancellations. Travelers ditched plans for vacations, work trips, and family get-togethers when the virus spread. And then, Airbnb promised full refunds. Airbnb’s “Host Relief Fund” will help cover some of the lost revenue, but many hosts are coming up…

On a recent episode of CNBC’s Power Lunch, HGTV’s Tarek El Moussa said that flipping is in fact happening, but “it’s just a lot more challenging.”  The reality TV star of Flip or Flop joined the panel to discuss the state of the real estate industry amid the Coronavirus pandemic.  In addition, he said that regardless of the pandemic, we were due for a down real estate cycle and called the current conditions a perfect storm, especially considering the markets recent 10-year run –  “right now is a great time to get education about real estate and strike when the…

According to CoreLogic, home prices across the nation were beginning to “heat up” just prior to the Coronavirus outbreak and subsequent national emergency.  Their latest CoreLogic Home Price Index (HPI) Report for February said that prices increased 4.1% year over year and has been increasing on a year-over-year basis every month since February, 2012.  In addition, they point out that as of February, the overall HPI was 10.1% higher than its pre-crisis peak in April 2006, just before the start of the 2007 financial crisis.  Indeed… “The HPI has gained 63.6% since hitting bottom in March 2011. As of February…

According to ATTOM Data’s 2019 property tax analysis, total property taxes levied on single family homes in 2019 totaled $306.4 billion, up 1% from 2018.  This figure averages to about $3,561 per home (up 2% from 2018), which is an effective tax rate of 1.14%.  The report looked at the property tax data for over than 86 million U.S. single family homes.  Indeed… “Property taxes levied on homeowners rose again in 2019 across most of the country. But the nationwide increase was the smallest in the last three years, a sign that cities, towns and counties are taking stronger steps…

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) declined 0.4%  in March, which BLS says was the largest monthly decline since January 2015.  Interestingly, they do report that, overall, during the last 12 months, the all items index increased 1.5% before seasonal adjustment.  Indeed… “… A sharp decline in the gasoline index was a major cause of the monthly decrease in the seasonally adjusted all items index, with decreases in the indexes for airline fares, lodging away from home, and apparel also contributing. The energy index fell 5.8 percent as…

It might be easy to forget during the pandemic that there is a still a census being conducted by the federal government.  As you may recall from high school civics, the U.S. Constitution mandates that a census be conducted every 10 years in order to count our nation’s population.  Today’s infographic from the National Association of Realtors reminds us these numbers help provide valuable resources communities as well as redistricting & reapportionment of Congress and housing policies from HUD.  In other words, there’s a lot riding on getting accurate numbers, so please do your part and answer accordingly.  Stay safe…

The National Multifamily Housing Council (NMHC) says that 69% of households paid their rent by April 5th.  This figure is 12 points less than the percentage that paid by March 5th and 13 points less than one year ago.  The  data comes from the NMHC’s Rent Payment Tracker which uses data from 13.4 million units across the country. “The COVID-19 outbreak has resulted in significant health and financial challenges for apartment residents and multifamily owners, operators and employees in communities across the country,” said Doug Bibby, President of NMHC. “However, it is important to note that a large number of…

For the first time in a long time (pre-internet, even), the number of young people aged 25-34 heading households has increased.  The NAHB’s Eye on Housing recently crunched the numbers to show this trend’s reversal. They call it a “hopeful indicator” that may have reversed the recent trend of young people living with their parents, relatives and roommates.  Indeed… “The 2018 uptick in headship rates is largely due to the declining share of young adults living with relatives (0.2 percentage point decline) and sharing housing with roommates, housemates and other nonrelatives (another 0.2 percentage point decline). Nevertheless, the current share…

It’s an unfortunate sign of the times during our current national emergency;  Tourists are being turned back from the Florida Keys and even the Outer Banks of North Carolina has road blocks in place doing the same.  A recent story in the Wall Street Journal (reposted on Realtor.com) reports that authorities in resort towns are taking extraordinary measures to protect their permanent residents from the Coronavirus, which has sometimes been at odds with property-owners seeking shelter from the pandemic.  As an example, the WSJ says in Cape Cod, Massachusetts over 12k residents recently signed a petition asking authorities to turn…