Author: Brad Beckett

According to the latest S&P CoreLogic Case-Shiller Indices, covering all nine U.S. census divisions, the rate of home price increases reported a 3.8% annual gain in December.  Their 10-City Composite annual increase came in at 2.4% and the 20-City Composite posted a 2.9% year-over-year gain.  The S&P CoreLogic Case-Shiller Home Price Indices are one of the leading measures of U.S. residential real estate prices, tracking changes in the value of residential real estate both nationally as well as in 20 metropolitan regions. “The U.S. housing market continued its trend of stable growth in December,” says Craig J. Lazzara, Managing Director…

We love data about moving because it gives investors a nice snapshot of new and existing market conditions.  The Mortgage Bankers Association recently broke down some of the recent mobility rate numbers published by the Census Bureau to examine why fewer Americans are moving. Moves for employment-related reasons have fluctuated over the last 20 years, but they have remained around seven million per annum. Moves for family-related reasons have fallen in the last five years from over 11 million in 2014 to fewer than nine million. However, the biggest declines are evident for housing-related reasons. These have fallen by approximately…

According to the latest Yardi Matrix, the average U.S. rent in January was $1,463 (down $1), marking the third consecutive month of declining rents. However, Yardi says the multifamily market continued its steady performance into the first quarter with year-over-year growth remaining steady at 3.0%. “…one potential headwind to keep in mind for 2020 is regulatory risk, as evidenced by statewide rent control (California, New York and Oregon), and increased local regulation on security deposits (Cincinnati) and resident acceptance criteria (Seattle)…” Click here to read the full report at Yardi.com.

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.