Author: Brad Beckett

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 4.3% annual gain in January, down from 4.6% in December.  Their 10-City Composite annual increase came in at 3.2% and the 20-City Composite posted a 3.6% 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 story at S&P Dow Jones Indices.

A recent report by the NAHB’s Eye on Housing revealed some of the reasons potential homebuyers can’t seem to “pull the trigger” on purchasing.  Data from Q4 of 2018 show that 58% of active buyers were looking for 3 months or more.  So what’s holding them back?  Well, the obvious one, prices, but also the home’s features and the desired neighborhood.  Of course these are needs that real estate investors zero-in on and strive to meet each and every day.  Indeed…. “The most important reason is they can’t find a home at a price they can afford (49%), followed by…

The U.S. government is reporting that privately‐owned housing starts in February were at a seasonally adjusted annual rate of 1,162,000.  This figure is 8.7% lower than January’s revised estimate and 9.9% below one year ago.  Single‐family housing starts were at a rate of 805k – which is 17% below January’s number.  The rate for units in buildings with five units or more was 352k.  Privately‐owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,296,000.  This number 1.6% below the January’s revised rate oand is 2% below February, 2018.  Single‐family authorizations in February…

CoreLogic recently released their Market Pulse Report for March, 2019 where they provide a lagging indicator snapshot of the U.S. housing market through January 2019.  Among this issue’s topics; Housing Recessions & Recoveries, Characteristics of Today’s Non-Qualified Mortgages, Younger Households Supporting Homeownerhsip, and Home Price & Mortgage Rate Forecasts Suggest Smaller Gains in the Mortgage Payments Homebuyers Will Face This Year. Click here to read the full report at Corelogic.com.

What are the 10 states with the highest foreclosure rates in the country?  The folks at ATTOM Data took a deeper dive into their recent foreclosure report to uncover the top 10 states with the highest activity.  Topping the list is New Jersey with a foreclosure rate of 1 in every 1,006 housing units receiving a foreclosure filing in February 2019. Followed by Delaware (1 in every 1,008 housing units); Maryland (1 in every 1,193 housing units); Florida (1 in every 1,365 housing units); Illinois (1 in every 1,465 housing units); South Carolina (1 in every 1,615 housing units); Connecticut…

Existing home sales surged nearly 12% in February where they experienced the largest month-over-month gain since December 2015, according to data from the National Association of Realtors.  Total existing-home sales rose 11.8% from January to a seasonally adjusted annual rate of 5.51 million in February.  However, they caution that sales are down 1.8% from one year ago.  Total housing inventory at the end of February was 1.63 million which translates into 3.5-month supply at the current sales pace. “A powerful combination of lower mortgage rates, more inventory, rising income and higher consumer confidence is driving the sales rebound.”  Said Lawrence…

A recent decision by the U.S. Supreme Court will make it harder for borrowers to fight foreclosures in non-judicial states.  According to a report from HousingWire, the court ruling awarded more protection to law firms, mortgage lenders and servicers in serving non-judicial foreclosures.  They say it is a victory for the mortgage industry and it may eliminate thousands of homeowner lawsuits.  States have different foreclosure requirements but generally fall into two categories;  judicial or non-judicial, which by name determines who gets to decide the foreclosure.  The case stemmed from homeowner in Colorado (a non-judicial state) who attempted to fight foreclosure…

Spring is here! (the first day was March 20th) Which means now is a great time to start thinking about your property’s landscaping – whether it’s a rental house or a flip you’re about to spruce up, a nice lawn will certainly add value and improve curb appeal!  The folks over at The Home Depot put together this handy infographic with their Spring fertilization tips…..Happy Friday!!! *** Did you know that members of National REIA receive a 2% biannual rebate, 20% off interior & exterior paints & primers, volume pricing, access to an exclusive appliance & cabinet program and much…

Airbnb is buying last-minute hotel room booking site HotelTonight, firmly moving them into the hotel room booking business.  According to travel news site Skift, Airbnb will be paying in excess of $400 million in cash and stock.  The deal is expected to close in June. “Airbnb CEO and co-founder Brian Chesky said the purchase of HotelTonight was a key component of Airbnb’s desire to become a comprehensive travel marketplace.  ‘A big part of building an end-to-end travel platform is serving every guest, whether they plan their trip a year or a day in advance…'” Click here to read the full…

According to the latest Yardi Matrix, U.S. multifamily rents rose slightly in February, coming in at $1,426 with year-over-year growth holding firm at 3.6%.  Yardi reports that this annual growth rate is the highest since late 2016. “The staying power of the cycle is a major concern in a market that has had an unusually long run without a downturn. Multifamily, however, continues to defy those worries, and the latest numbers are evidence that the market has strength to perform well for a while, even if the economy or other commercial real estate segments slow down.” Click here to read…