Author: Brad Beckett

The U.S. government is reporting that privately‐owned housing starts in August were at a seasonally adjusted annual rate of 1,364,000. This is 12.3% higher than July’s revised estimate and is 6.6% higher than one year ago.  Single‐family housing starts in August were at a rate of 919k, which is 4.4% higher than July.  The August rate for units in buildings with five units or more was 424k.  Privately‐owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,419,000. This is 7.7% above July’s revised rate and is 12.0% higher than one year ago.…

The folks over at FortuneBuilders say that, as a first-time real estate investor, it can be easy to begin to doubt yourself and wonder if you really have what it takes to be successful. However, in today’s infographic they quote real estate mogul Warren Buffett who said “the most important quality for an investor is temperament, not intellect.”  Indeed….Happy Friday!!! Hat tip to FortuneBuilders.

According to the latest Yardi Matrix, U.S. multifamily rents increased in August, coming in at $1,472 with year-over-year growth coming in at 3.3%.  Yardi says multifamily rent growth has remained exceptionally consistent and has been at least 2.7% since the beginning of 2018. Click here to read the full report at Yardimatrix.com.

According to the latest market trends, ATTOM Data Solutions says there were 53,007 U.S. properties with foreclosure filings in August 2019, up 4% from July but down 24% from one year ago.  Their data show that nationwide, one in every 2,554 U.S. properties received a foreclosure filing during the month of August.  In addition, banks repossessed 11,493 properties in August (REO), which was up 4% from the previous month but down 47% from a year ago. Click here to read the full report at ATTOM Data.

Being able to buy a new home or even rent the one you really want depends quite a bit on how much debt one has – especially if you’re just starting out.  The folks over at howmuch.net took a look at America’s student loan debt per capita, by state.  According to their data, outstanding student loan debt has tripled over the last decade to $1.5 trillion, surpassing auto and credit card debt and only second to housing debt.  Wow…. Click here to read more at howmuch.com.

The NAHB’s Eye on Housing is reporting that there is a mismatch between the actual prices of new homes and the prices buyers expect to pay, which they say is further evidence of the growing problem of housing affordability.  Using data from the Census Bureau and HUD, the NAHB says that while the median sales price of single-family homes started in 2018 was under $322k their data (from the 2019 edition of What Home Buyers Really Want) show that the median price buyers expect to pay is around $254k.  Indeed… “The reasons for this mismatch at the low end are…

We have seen this data pop up before.  People are moving away from expensive, high-tax, over-regulated states to places with overall better climates.  However, a recent story in the Wall Street Journal (reposted on Realtor.com) takes a look at a trend among more-mobile workers who are moving to smaller cities and taking their jobs with them. “One of the bummers is that they are not necessarily joining the workforce,” said Sheila Smith, a real-estate agent in Boise. Many of the out-of-town arrivals she sells to work from home or commute to jobs in distant cities, she said. “People who do…

According to their latest Origination Insight Report, Ellie Mae says that closing rates rose to a new high with the closing rate on all loans at 77%, up from 76.8% in June. Closing rates on purchases increased to 79.3% in July, up from 78.8% in June, while closing rates on refinances dropped slightly to 72.9% in July, down from 73.4% the month prior.  The average time to close was at 42 days in July, the average time to close a purchase dropped to 43 days and the time to close a refinance increased to 40 days.  Ellie Mae’s Origination Insight…

Local Market Monitor, a National REIA preferred vendor, recently released their National Economic Outlook for September, 2019 where they share their thoughts on developments taking place in the U.S. economy. National Economic Outlook – September 2019 By Ingo Winzer The number of jobs in August was up just 1.4 percent from last year, the smallest increase in the last two years, and down significantly from the 2 percent rate of January. Any further slowing will be the worst since the big recession. That won’t necessarily lead to another recession – certainly not one of that epic scale – but the slowing…

Believe it or not, in about a week the Autumnal Equinox will take place (the first day of Fall is 9/23) and that means it’s time to start thinking about lawn-care for the upcoming months. The following infographic from The Home Depot lays out exactly what needs to be done to prepare your yard for the winter months so it’s in tip-top shape for Spring. Happy Friday!!!! Hat tip to The Home Depot.