Author: Brad Beckett

According to the latest CoreLogic Single-Family Rent Index (SFRI), U.S. single-family home rental prices are experiencing slower growth in key rental metros which all experienced population spikes during the pandemic.  According to their report, annual U.S. rent growth registered a 2% increase in September, continuing a slowing trend that began in early 2024 but is well below the average annual rent growth of 3.5% that occurred in the decade prior to the pandemic. “Single-family annual rent growth slowed in September to the lowest rate in over four years, and monthly rent growth posted a second month of below-seasonal trend growth,…

The National Association of Realtors is reporting that pending home sales rose 2% in in October, 2024.  The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) came in at 77.4 in October.  The NAR says momentum is building…Indeed. “Homebuying momentum is building after nearly two years of suppressed home sales…Even with mortgage rates modestly rising despite the Federal Reserve’s decision to cut the short-term interbank lending rate in September, continuous job additions and more housing inventory are bringing more consumers to the market.”  Said the NAR’s Chief Economist, Lawrence Yun. Click here to read the full…

The U.S. Government is reporting that sales of new single-family houses in October, 2024 were at a seasonally adjusted annual rate of 610k, which is 17.3% lower than September’s revised rate and is 9.4% lower than one year ago.  The median sales price of new houses sold in October was $437,300 with an average sales price of $545,800.  There were an estimated 481k new houses for sale at the end of October representing a 9.5-month supply at the current sales rate. Click here to read the full report at the U.S. Census Bureau.

If you’re a regular reader of this site you know that we cover inflation pretty extensively.  Today’s graphic from Statista says there’s no way around the fact that consumer prices in the United States have risen sharply over the past several years – with a host of factors coming together to form a perfect storm of inflationary pressure.  Their chart illustrates which categories have been hardest hit by this wave of inflation.  Stay safe and have a Happy Friday!!!  “Since February 2020, the last month before the Covid-19 pandemic disrupted the global economy, the Consumer Price Index for All Urban…

A recent report from the NAHB’s Eye on Housing says private fixed investment in student dormitories increased by 2.2% to a seasonally adjusted annual rate (SAAR) of $3.9 billion in Q3 of 2024.  They point out that since the pandemic, private fixed investment has rebounded, as college enrollments show a slow but stabilizing recovery from pandemic driven declines.  In essence, they say effective in-person learning requires students to return to campuses, which boosts the student housing sector.  Indeed… “…demand for student housing is growing robustly, because total enrollment in postsecondary institutions is projected to increase 8% from 2020 to 2030,…

A recent article in the Wall Street Journal (reposted on Realtor.com) says “the big wedding can wait” as more and more couples are deciding to jump right into homeownership prior to getting married.  They report that, in 2023, around 555k unmarried couples said they bought their home during the previous year – up 46% from 10 years ago when around 381k couples did the same. In reshuffling the traditional order of adult milestones, some couples may decide not to marry at all, while others say they are willing to delay a wedding. Buying a home is as much, if not…

On a recent episode of Real Estate News for Investors, Kathy Fettke explores the latest trends and predictions shaping the housing market as we approach 2025. From economic growth to mortgage rates, she breaks down expert forecasts on home sales, pricing, and the outlook for real estate investors. Click here to listen.

The venerable AAA says it’s time to “buckle-up” this Thanksgiving as they say nearly 80 million people will be traveling – up from 2023’s revised numbers.  They expect a record number of drivers on the road with this year’s number surpassing pre-pandemic numbers. “Thanksgiving is the busiest holiday for travel, and this year we’re expecting to set new records across the board, from driving to flying and cruising…Americans reconnect with family and friends over Thanksgiving, and travel is a big part of that. AAA continues to see travel demand soar post-pandemic…”  Said Stacey Barber, Vice President of AAA Travel. Click…

According to recent data from the U.S. Department of Commerce’s Bureau of Economic Analysis, in 2023 personal income increased in 2,814 counties, decreased in 295, and was unchanged in five.  For comparison, in 2019-20, personal income increased in 3,040 counties, decreased in 69, and was unchanged in three.  Indeed… Click here to read the full report at the U.S. Bureau of Economic Analysis.

The National Association of Realtors is reporting that existing home sales were up 3.4% in October to a seasonally-adjusted annual rate of 3.96 million – up 2.9% year over year.  Total housing inventory at the end of October was 1.37 million units, up 0.7% from September and up 19.1% from one year ago.  Unsold inventory sits at a 4.2-month supply at the current sales rate with properties remaining on the market for around 29 days.  The median existing-home price for all housing types in October was $407,200. “The worst of the downturn in home sales could be over, with increasing…