Author: Brad Beckett

Labor Day weekend marks the unofficial end of Summer so here’s a quick infographic with some interesting facts about the holiday, courtesy of WalletHub….Happy Friday…..and, of course, Have a Safe and Happy Labor Day Weekend!!! Hat tip to WalletHub

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 3.1% annual gain in June, down from 3.3% in May.  Their 10-City Composite annual increase came in at 1.8% and the 20-City Composite posted a 2.1% 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. Click here to read the full report at S&P Dow Jones Indices.

So where are people moving to, now?  We have had many posts about internal migration and the states that are gaining/losing population.  With that in mind, Realtor.com ran the numbers for their new Cross Market Demand Report which identifies the top markets for out of state home shoppers.  The report asks what are the so-called magnetic hot spots that people are most interested in and what’s driving them there?  Indeed… “With prices now having risen…affordability has become top of mind and is driving people not just in their local markets, but when they’re shopping to relocate…It’s not just the cheapest…

The venerable automobile travel organization AAA says that not only will Labor Day’s average cost of gasoline be about 30 cents cheaper than Memorial Day, it will also be the least expensive American’s have paid for a gallon of gas at this time in three years!  They estimate that Americans will pay an average of $2.59 per gallon as they fill up for what is one of the busiest travel holidays of the year.  So, where are we going??? “…gas prices this coming [Labor Day] weekend…are cheaper than this past Memorial Day and last year’s Labor Day holiday,” said Jeanette…

We recently posted about  record mortgage debt reaching levels not seen since 2008.  With that in mind, we’ve came across data from howmuch.net showing America’s credit card debt by state.   According to their research, total private and public debt hit an all-time high of over $70 trillion – which the say is being fueled by credit card debt.  But where is all this debt? “Despite overall low interest rates, credit card rates have hit a 25-year high, with average interest rates at 17%. At the same time, total consumer debt in the exceeded $4 trillion for the first time, a…

We recently posted about rising delinquencies in the 2nd quarter which also made reference to the fact that foreclosure inventory was at its lowest level since 1995.  According to ATTOM Data Solutions’ Midyear 2019 U.S. Foreclosure Market Report, there were 296,458 U.S. properties with foreclosure filings in the first half of 2019.  This figure is 18% lower than one year ago and down 82% its peak in 2010.  They say their data help reinforce the view that foreclosure activity is trending downward.  However they do point out: “Of course, you still have pockets across the nation where foreclosure activity is…

The National Association of Realtors is reporting that existing home sales were up 2.5% in July, which the NAR says is a positive reversal after total sales were down slightly in June.  According to their release, total existing-home sales (completed transactions that include single-family homes, townhomes, condominiums and co-ops) were up 2.5% from June to a seasonally adjusted annual rate of 5.42 million in July.  Total housing inventory at the end of July was 1.89 million, representing a 4.4-month supply at the current sales pace. “Falling mortgage rates are improving housing affordability and nudging buyers into the market,” said Lawrence…

The U.S. government is reporting that sales of new single-family houses in July, 2019 were 12.8% lower than June’s revised rate but were 4.3% higher than in July, 2018.  The median sales price of new houses sold in July was $312,800 and the average sales price was $388k.  The seasonally-adjusted estimate of new houses for sale at the end of July was 337k representing a 6.4 months supply at the current sales rate. Click here to read the full report at the U.S. Census Bureau.

Did you know that a Trader Joe’s or an ALDI near your property might increase its ROI?  This is according to ATTOM Data’s recent Grocery Store Battle analysis that looked at how living near a Trader Joe’s, a Whole Foods or an ALDI can affect your home’s value – or flipping ROI!    Interestingly, for investors they found that properties near an ALDI are an investor’s cornucopia with an average gross flipping ROI of 62%, compared to those near a Whole Foods which had an average gross flipping ROI of 35% and Trader Joe’s at 31 percent. The average gross…

According to the latest Mortgage Bankers Association (MBA) National Delinquency Survey, mortgage delinquencies increased 11 basis points from the first quarter of 2019 and 17 basis points from one year ago.  The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 4.53% of all loans outstanding at the end of the second quarter of 2019.  The foreclosure inventory rate came in at 0.9%  at the end of Q2, which was the lowest since the fourth quarter of 1995.  In addition, they point out that on a year-over-year basis, total mortgage delinquencies increased for…