Author: Brad Beckett

The U.S. government is reporting that total construction spending in October was estimated at a seasonally adjusted annual rate of f $1,291.1 billion, which is 0.8% below September’s revised number.  Residential construction was at a seasonally adjusted annual rate of $508.2 billion in October.  That figure is 0.9% lower than September’s revised figure. Click here to read the full release at the U.S. Census Bureau.

The U.S. government is reporting that sales of new single-family houses in October, 2019 were at a seasonally adjusted annual rate of 733,000.  This figure is 0.7% below revised September’s revised rate but is 31.6% higher than October, 2018’s figure.  The median sales price of new houses sold in October was $316,700 and the average sales price was $383,300.  There were new 321k new houses for sale at the end of September was 322,000 representing a 5.3 months supply at the current sales rate. Click here to read the full release at the U.S. Census Bureau.

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 3.2% annual gain in September.  Their 10-City Composite annual increase came in at 1.5% 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. “September’s report for the U.S. housing market is reassuring,” says Craig J. Lazzara, Managing Director and Global Head…

Water heaters…they’re either a potential time-bomb in that flip you just bought or an old friend in your basement.  However, if you ever need to replace one, what do you replace it with?  The good folks at The Home Depot put together this handy graphic to help comprehend and discover the best solution for your situation…..Happy Friday!!! Hat tip to the Home Depot.

Saving for retirement is on the minds of most Americans, however what that retirement looks like and how much it costs varies across the nation.  The folks over at howmuch.net say that some parts of the country are “friendlier on the wallet” than others when it comes to retirement. In fact, recent data they’ve researched shows the the average amount of money a retiree will need to retire “comfortably” in all 50 states as well as the average age of retirement.  Indeed…. “Taking into account life expectancy as well as yearly expenses, the average savings required for retirement in the…

The NAHB’s Eye on Housing is reporting that new data from the Census’ Housing Vacancies and Homeownership Survey (CPS/HVS) says minority homeownership increased in Q3 2019 to 48.3 percent, up 0.9 percentage points from the third quarter of 2018.  In addition, they point out that the year-over-year gain for this indicator is higher than the gain in the overall U.S. homeownership rate, which rose 0.4 percentage points to 64.8% in the third quarter of 2019.  In comparison, white homeownership grew by 0.3 percentage points to 73.4% in Q3 (from 73.1 percent in the third quarter of 2018) and has not…

We have posted about the seriousness of service animals many times over the past few years.  And now, the U.S. Department of Housing and Urban Development (HUD) is seeking action against online companies that profit from selling sham assistance animal documentation at the expense of rental housing providers and renters who have legitimate needs.  Hud says these companies’ documents are intended to justify reasonable accommodation requests for assistance animals (service animals and emotional support animals (ESAs) in housing but are often used to skirt pet restrictions under false pretenses.  The full release is as follows: WASHINGTON – Recently, U.S.…

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.

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…