Author: Brad Beckett

According to Apartment List’s National Rent Report for April 2024, national median rent rose 0.6% to $1,388.  They say the turnaround is in line with the rental market’s typical seasonal pattern, as it transitions into the time of year when moving activity starts to gradually pick back up after bottoming out around the holidays.  Indeed… “Rent growth follows a seasonal pattern – rent increases generally take place during the spring and summer, whereas the fall and winter usually see a modest price dip. We are currently transitioning into the busy season, with the national median rent increasing for the second…

According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rent was $1,721 in march, 2024.  Yardi says multifamily rents recorded their largest gain in 20 months, which they say signals a normal seasonal growth pattern.  Indeed… “March’s multifamily data should provide some level of comfort for the many market observers worried about the sector’s performance this year owing to slowing economic growth or the robust supply pipeline.” Click here to read the full report at Yardi.

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4% in March, 2024.  The all items index was up 3.5% for the 12 months ending in March.  The index for shelter and gasoline rose again in March. The BLS says that, when combined, these two indexes contributed over half of the monthly increase in the index for all items. Click here to read the full release at the Bureau of Labor Statistics.

We have had several posts about the problems with growing credit card debt and delinquency rates.  Citing data from WalletHub, today’s graphic from the Visual Capitalist shows credit card delinquency rates across the U.S.  As always, have a safe and Happy Friday!! “Credit card debt carries a hefty bill in America, and falling behind on payments can be extremely costly for cardholders.” Hat tip to the Visual Capitalist.

A while back, we posted about homeowner’s buying do-it-yourself fallout shelters, now comes a recent story from Realtor.com that says more homeowners are installing bunkers and safe rooms in their homes.  They say with a growing list of global & domestic concerns, people are reaching out to bunker and safe room companies about installing them in their homes.  Interesting they report that officials from these companies say interest is up 30% to 50% this year alone. “You have people who feel unsafe, and the politics definitely play a huge role,” says Bill Fulton, co-author of “Survive and Thrive: How To Prepare…

On a recent episode of the Rental Property Owner & Real Estate Investor Podcast, Brian Hamrick talks with Howard Bynder, an expert on HVAC systems who shares practical tips for choosing the right one for your property, finding the best HVAC contractor, and rebates and incentives that might be available in your area. “Anyone who owns rental property can tell you that one of the systems you must pay attention to is your heating and air conditioning system—commonly referred to as your HVAC system.” Click here to listen online.

According to the U.S. Department of Labor’s Bureau of Labor Statistics, total nonfarm payroll employment increased by 303k, in March 2024 and the unemployment rate dropped to 3.8% in March (up 0.1 percentage points).  Interestingly, employment in the government sector continued to rise with the BLS saying it increased by 71k, higher than the average monthly gain of 54k over the prior 12 months. Click here to read the full report at the Bureau of Labor Statistics.

According to the latest CoreLogic Home Price Insights (HPI) report, home prices nationwide, including distressed sales, increased year over year by 5.5% in February 2024.  CoreLogic says annual home price growth is projected to drop to 3.1% by February, 2025.  In addition, they say U.S. annual home price growth remained mostly consistent with numbers seen since last fall in February but finally slowed as the residual impact of comparing gains with weak 2022 home prices wore off. “Home price growth pivoted in February, as the impact of the January 2023 Home Price Index bottom finally faded…As a result, the U.S.…

The U.S. government is reporting that total construction spending in February, 2024 was at a seasonally adjusted annual rate of $2,091.5 billion, which is 0.3% lower than January’s number.  However, February’s revised estimate is 10.7% higher than one year ago.  Residential construction came in at a seasonally adjusted annual rate of $901.1 billion in February, which is 0.7% higher than January’s revised estimate. Click here to read the full report at the U.S. Census Bureau.

A recent report from the U.S. Census Bureau highlights how several metro areas in the South continue to see large gains in population.  In fact, they say Florida alone was home to four of the nation’s top five fastest-growing MSAs and three of the top 10 that gained the largest number of people from 2022 to 2023 – reflecting continued population growth across the entire South.  Not to be outdone, Texas was home to four of the 10 metro areas that added the largest number of people. “U.S. migration patterns played a significant role in the South’s population growth. Many…