We have to admit, there are some pretty intense data in here that might cure for insomnia or predict your next out of state real estate investment. Indeed, the U.S. Census Bureau recently released their 2019 CPS ASEC Geographic Mobility detailed table package and updates to their historical tables and historical graphs – in other words, the movement of people from one location of residence to another. Click here to dig into the analysis at the U.S. Census Bureau.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
Citing data from Corelogic, CNBC’s Diana Olick reports on the supply and demand for single-family home rentals. According to CoreLogic latest SFRI, U.S. single-family rents increased 3% year over year in September. They also point out that single-family rents started climbing in 2010, and have stabilized around 3% since early ’19 Click here to watch the story at CNBC.com. Click here to read the CoreLogic report.
It has been a few weeks wince we’ve talked about Millennials so we don’t want them to feel left out. According to recent number-crunching form Realtor.com, there is a “sea change happening” among millennials and it’s causing repercussions across U.S. housing markets. Reportedly they’re opting out of the bright lights and big city lifestyle and are looking for more affordable small cities. Ok….so where are they moving, now???? “For the first time, we’re finally seeing evidence of millennials outcompeting older generations in more markets than not,” says Javier Vivas, director of economic research at realtor.com. “If millennials continue to grow…
The National Association of Realtors is reporting that existing home sales were up 1.9% to a seasonally-adjusted annual rate of 5.46 million in October, which they characterize as a slight recovery from the declines seen last month. The median existing-home price for all housing types was $270,900, up 6.2% from October, 2018. In addition, October’s price increase marks 92 straight months of year-over-year gains. Total inventory at the end of October was 1.77 million units, down approximately 2.7% from September and 4.3% from one year ago. Total unsold inventory was at a 3.9-month supply at the current sales pace. Properties…
Venerable auto-club AAA predicts that over 55 million Americans will travel 50+ miles away from home this Thanksgiving – marking the 2nd highest level since 2000 that this many people were traveling over the holiday. In addition, they report that gas prices are currently cheaper than this time last year, averaging around $2.57 per gallon. That being said, we hope that you and yours have a safe and happy Thanksgiving holiday! And, of course, Happy Friday!! Hat tip to AAA.
You know it’s gotten bad when apartments in public housing are being let out as Airbnbs. However, it might actually be more common than we realize. According to New York City’s FOX5 TV, a woman from Boston thought she found a great deal on a place to stay in Manhattan until she realized it was an apartment in a New York City Housing Authority complex. While the apartment reportedly received high ratings on Airbnb’s site (and in a good location), the short-term renter said it smelled like gas and that there was a roach trap next to the bed. The…
The U.S. government is reporting that privately‐owned housing starts in October were at a seasonally adjusted annual rate of 1,314,000, which is 3.8% above September’s revised estimate and is 8.5% above October, 2018. Single‐family housing starts in October were at a rate of 936k, which is 2% than September’s revised estimate. October’s rate for units in buildings with five units or more was 362k. Privately‐owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,461,000, which is 5% higher than September’s revised rate and is 14.1% higher than October, 2018. Single‐family authorizations in…
According to the latest U.S. Home Equity and Underwater Report from ATTOM Data, homeowners were found to be more likely equity rich than seriously underwater. In other words, the combined estimated amount of loans secured by those properties was 50% or less of their estimated market value. ATTOM says the number of equity rich properties in Q3, 2019 represented 26.7% of 54 million homes with mortgages. But, their report does reveal the places with the highest number of properties that are seriously underwater. Indeed… “There are notable equity gaps between regions and market segments. But as home values keep climbing,…
According to a recent report from Redfin, sales of luxury homes priced at $1.5 million+ increased 3.2% in Q3, 2019 which they say is a sign that the high-end market is moderating after recession fears affected it during the first two quarters. However, the average sale price for these homes increased 0.3% year over year to $1.6 million during this period, marking the first time in three straight quarters that did not see a decline. In addition, supply of homes priced at $1.5 million+ rose 9.3% year over year in Q3, marking the sixth consecutive quarter of growth. “The U.S.…
According to the NY Fed’s latest Report on Household Debt and Credit (illustrated by Statista), total household debt in the U.S. (which includes mortgages, auto loans, credit card and student debt) reached $13.95 trillion in Q3, 2019. “Standing at $9.44 trillion, mortgages still account for the lion’s share of the total debt balance, with student loans a distant second at $1.50 trillion…” Click here to read the full story at Statista.com. Click here to read the NY Fed’s Report on Household Debt and Credit.
