Author: Brad Beckett

National apartment listing site ABODO recently reported that the median nationwide rent price for one-bedroom units in April was $1,063 with two-bedroom units coming in at $1,325.  ABODO uses over 1 million listings across the United States to calculate the median 1-bedroom rent price by city, state, and nation and then track the month-over-month percentage change. To avoid small sample sizes, they restrict their analysis to cities meeting minimum population and property count thresholds.  Be sure to check out their extensive city list. “As usual, stay tuned since rapid economic changes can translate into a quickly altered national rent picture.”…

According to recent data from the Associated General Contractors of America, construction employment grew in 275 (76%) out of 358 metro areas between January 2018 and January 2019, declined in 39 (11%) and was unchanged in 44.  The AGC said demand for construction in most parts of the country appears to be outstripping the supply of qualified workers to hire.  Indeed… “Contractors in most parts of the country are having a hard time finding enough qualified workers to keep pace with strong, and growing, demand for construction,” said Stephen E. Sandherr, the association’s chief executive officer. “Expanding the number of…

The U.S. government is reporting that total construction spending in February was estimated at a seasonally adjusted annual rate of $1,320.3 billion, which is 1.0% higher than January’s revised number.  Residential construction was at a seasonally adjusted annual rate of $540.9 billion in February, which was 0.7% higher than January’s revised estimate. Click here to read the full release at Census.gov.

Rental information site Zumper recently released their National Rent Report for April showing that the median national rent for 1-bedroom apartment was $1,214 and the median two-bedroom rent was $1,445.  Year to date, one bedroom prices are down 0.5% and two bedroom prices are up 0.6%.  Zumper analyzes rental data from over 1 million active listings across the United States. Data is aggregated on a monthly basis to calculate median asking rents for the top 100 metro areas by population, providing a comprehensive view of the current state of the market. The report is based on all data available in…

The U.S. Government is reporting that sales of new single-family houses in February, 2019 were at a seasonally adjusted annual rate of 677k.   This figure is 4.9% higher than January’s revised rate and is 0.6% higher than one year ago.  The median sales price of new houses sold in February 2019 was $315,300 and the average sales price was $379,600.  The seasonally‐adjusted estimate of new houses for sale at the end of February was 340k, which represented a 6.1 months supply at the current sales rate. Click here to read the full report at census.gov.

The U.S. Department of Housing and Urban Development is claiming that Facebook is violating the Fair Housing Act by using targeted ads that it claims allows discrimination based on race, nationality, religion, color, familial status, sex and disability.   HousingWire is reporting that while Facebook has already removed over 5k ad targeting options, it still hasn’t satisfied groups like the American Civil Liberties Union, who has also filed a lawsuit against the company for discriminating against protected groups.  Stay tuned… “Facebook is discriminating against people based upon who they are and where they live,” said HUD Secretary Ben Carson. “Using a…

The National Association of Realtors is reporting that overall pending home sales increased 1% in February.  The four major regions of the country were split; the South and West saw a bump in contract activity and the Northeast and Midwest reported slight declines.  The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) declined to 101.9 in February.  In addition, they reported that year-over-year contract signings declined 4.9%, marking the fourteenth straight month of annual decreases. “In January, pending contracts were up close to 5 percent, so this month’s 1 percent drop is not a significant concern…As…

With spring in full gear in most parts of the country, we thought we’d take a look at a recreational backyard project that will add value and enjoyment to any property – the classic pergola.  Interestingly, according to today’s infographic, these outdoor living enhancements were first enjoyed by the ancient Egyptians…who knew?  Happy Friday!!! Hat tip to Rick’s Fencing.

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…