Author: Brad Beckett

According to the latest CoreLogic Single-Family Rental Index (SFRI), single-family rents increased 2.9% year over year in March.  Their index measures rent changes among single-family rental homes, including condominiums, using a repeat-rent analysis to measure the same rental properties over time. Interestingly, CoreLogic pointed out that single-family rents climbed steadily starting in 2010, and annual rent increases have stabilized, fluctuating between 2.7% and 3.1% for the past 12 months. Key findings: Rents for lower-priced homes increased faster than those of higher-price homes. Phoenix had the largest annual rent increase of the 20 analyzed metro areas in March. Houston and Miami…

Realtor.com says that 1 in 5 metropolitan areas are now seeing decreases in home prices, compared with half as many just one year ago.  So, where exactly have home prices fallen the most?  To come up with that list, they looked at the median list price changes from April 2018 to April 2019 in the 250 biggest metropolitan areas. “Some markets are seeing price drops due to overbuilding: This creates too much supply and not enough demand, so prices naturally fall. And just like in past years, in other areas, natural disasters devastated lives, communities, and local real estate.” Click…

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 3.7% annual gain in March, down from 3.9% in February.  Their 10-City Composite annual increase came in at 2.3% and the 20-City Composite posted a 2.7% 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.

Opportunity Zones have been called one of the most exciting and game-changing investment incentives to come down the proverbial pike.  Recently, National REIA teamed up with the law firm Frost Brown Todd, llc, to discuss the. recently released regulations (issued in April, 2019) as well the overall practical application of Opportunity Zones themselves. Click here to watch the webinar on YouTube. Click here to learn more about Opportunity Zones.

The U.S. Government is reporting that sales of new single-family houses in April, 2019 were at a seasonally adjusted annual rate of 673k, which is 6.9% lower than March’s revised figure.  The median sales price of new houses sold in April 2019 was $342,200 and the average sales price was $393,700.  There was an estimated 332k new houses for sale at the end of April representing a 5.9 months supply at the current sales rate. Click here to read the full report at Census.gov.

Monday, May 27th is Memorial Day.  To many, the three-day weekend will mark the unofficial start of summer with swimming pools all across the fruited plain opening to excited children.  However, the solemn significance of the day is often forgotten.  It is actually a national day of remembrance for those men & women who, while wearing the uniform of this great country, paid the ultimate sacrifice defending freedom & liberty around the globe. Today’s infographic reminds us that Memorial Day is about more than just cookouts and 3-day weekends, it’s about a path paved by others to enjoy the freedoms…

Do you know anyone who does not have a mobile phone?  Not only are they everywhere but recent data from the Centers for Disease Control and Prevention (presented by Statista) continues to show an ever-increasing majority of American households have ditched the traditional landline phone and only have a mobile. “If the trend continues at the current pace, and there’s little reason to believe it won’t, landline phones could soon become an endangered species, much like the VCR and other technological relics before it.” Click here to read the full report at Statista.com.

Redfin says that a quarter of home searches on their website were looking to move to another metro area, which is up 2% from one year ago.  The results, part of their Q1 2019 Migration Report, also reveal that Phoenix took number one spot on the list with an inflow hit of 7,949—the highest net inflow on record for any metro area to date since Redfin began reporting net migration data back in early 2017. “People are feeling more confident about the economy and now feel financially secure enough to make a cross-country move to a metro where their money…

The American Automobile Association (aka AAA) is predicting that nearly 43 million Americans will travel over Memorial Day weekend.  This is nearly 5% more than last year and the highest in over 12 years.  In addition, they point out that gas overall prices are getting cheaper. “Gas prices are getting cheaper for the majority of motorists…” said Jeanette Casselano, AAA spokesperson. “Consumer spending remains strong, helped by solid job and income growth. Families continue to prioritize spending their disposable incomes on travel, and near-record numbers of them are looking forward to doing just that for Memorial Day.”  Said Paula Twidale,…

The National Association of Realtors is reporting that existing home sales were down 0.4% in April, with two of the four major U.S. regions seeing a slight dip in sales, while the West saw growth and the Midwest statistically had no changes.  The median existing-home price for all housing types in April was $267,300, up 3.6% from April, 2018 and marks the 86th straight month of year-over-year gains.  Total housing inventory at the end of April was 1.83 million (up 1.7% from one year ago).  There is a 4.2-month inventory at the current sales pace.  Properties remained on the market…