Author: Brad Beckett

On a recent episode of the Rent Perfect podcast David Pickron talks with Gary Mazzarella (and investor and landlord) about some of the people strategies they use to find success in the marketplace. “Landlords often fall into the trap of thinking that their business is all about the property… they couldn’t be more wrong.”  David Pickron Click here to listen on Spotify.

The U.S. government is reporting that total construction spending in March, 2024 was at a seasonally adjusted annual rate of $2,083.9 billion, which is 0.2% lower than February’s number.  However, March’s revised estimate is 9.6% higher than one year ago.  Residential construction came in at a seasonally adjusted annual rate of $884.3 billion in March, which is 0.7% lower than February’s revised estimate. Click here to read the full report at the U.S. Census Bureau.

Rental information site Zumper recently released their latest monthly National Rent Report for April, 2024.  According to their data, median rent for 1-bedroom apartments was $1,486 (down 0.6%) and $1,843 (up 0.1%) for two-bedrooms. Be sure to check out their list of the top 100 metro areas. “It seems we are firmly settled into the year of the renter as people have more options now than in recent memory…With Class A buildings marketing concessions that include up to three months of free rent, free parking, and waived deposits and application fees, this, in turn, puts pressure on Class B and…

According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), home prices home prices rose 7%  between February 2023 and February 2024.  In addition, FHFA’s seasonally adjusted monthly index for January was up 1.2% from February.  The FHFA HPI is the nation’s only collection of public, freely available house price indexes that measure changes in single-family home values based on data from all 50 states and over 400 American cities that extend back to the mid-1970s. “U.S. house prices rebounded with an increase in February, after declining slightly in January…All nine census divisions experienced price appreciation over…

The latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 6.4% annual increase for February, 2024.  Their 10-City Composite increased 8% and their 20-City Composite increased 7.3%, year-over-year. “U.S. home prices continued their drive higher.”  Said Brian D. Luke, Head of Commodities, Real & Digital assets at S&P DJI. Click here to read the full report at S&P Dow Jones Indices.

According to data from the 2024 National Association of Realtors’ Home Buyers and Sellers Generational Trends Report, millennials are now the largest group of home buyers, marking a significant shift in the housing market’s demographic landscape.  The annual report examines the similarities and differences among recent home buyers & sellers across generations.  “Leading the charge” were younger millennials, whose proportion of first-time buyers increased from 70% to 75% over the past year. “The generational tug-of-war between millennials and baby boomers continued this year, with millennials rebounding to capture the largest share of home buyers…This notable rise is attributed to both…

According to the U.S. Department of Labor’s Bureau of Labor Statistics, total nonfarm payroll employment increased by 175k in April, 2024 with the unemployment rate rising to 3.9% (up 0.1 percentage points). Once again, employment in the government sector continued to climb with the BLS saying it increased by 51k, close to the average monthly gain of 54k over the past 12 months. Click here to read the full report at the Bureau of Labor Statistics.

The U.S. government is reporting that the national vacancy rates for Q1, 2024 were 6.6% for rental housing and 0.8% for homeowner housing.  The national homeownership rate for Q1 2024 was 65.6%.  In addition, approximately 89.6% of the housing units in the United States in Q1 were occupied and 10.4% were vacant. Owner-occupied housing units made up 58.8% of total housing units, while renter-occupied units made up 30.8% of the inventory.  Vacant year-round units comprised 7.9% of total housing units, while 2.5% were vacant for seasonal use. Click here to read the full release at the U.S. Census Bureau.

This week’s infographic is really a no-brainier.  It illustrates just a few of the awesome benefits of joining a real estate investors association, or REIA as they’re commonly known.  You really do get “a bang for your buck” when you become a part of a local community of real estate investors.  Click here to find a REIA near you!  As always, stay safe and have a Happy Friday!!! Click here to find a REIA near you!

The Federal Bureau of Investigation’s Internet Crime Complaint Center (IC3) recently released their 2023 Internet Crime report which offers critical insights into the cyber threat landscape based on aggregated data from reported complaints.  The FBI says that in 2023, the most frequently reported crime was phishing schemes, which use unsolicited e-mail, text messages, and telephone calls purportedly from a legitimate company to request personal, financial, and/or login credentials.  The crimes with the highest reported losses were attributable to investment scams – which is a deceptive practice that induces investors to make purchases based on false information. “IC3 is an important…