Author: Brad Beckett

According to recent data from crunched by the NAHB’s Eye on Housing, there are 7.4 million second homes in America, representing 5.6% of the total housing stock.  The state with the largest number of second homes was Florida with 1.1 million homes (15% of all 2nd homes).  Interestingly, half of the country’s second homes are found in just eight states – Florida, California, New York, Texas, Michigan, North Carolina, Arizona, and Pennsylvania. “In-depth analysis of the county level data shows that the concentration of second homes is not simply restricted to conventional locations like beachfront areas. There were 916 counties…

The National Association of Realtors is reporting that existing-home sales rose 1.9% in November, marking two straight months of growth.  According to data, there were 5.32 million completed transactions in November with a median price (for all housing types) of $257,700. In addition there were 1.85 million existing homes for sale at the end of November with properties typically staying on the market for 42 days. Unsold inventory is at a 3.9-month supply at the current sales pace. Click here to read the full story at the National Association of Realtors.

Christmas will be here before you know it and if you haven’t put up your tree yet then you may be in luck for rock-bottom prices.  A recent post on eSellerCafe.com used data from Square and the National Christmas Tree Association (who knew the trees were united?) to show how the Christmas tree buying season kicks into high gear on Black Friday with an average price of $77 and then spikes on Cyber Monday at $81. Of course if you have an artificial tree that you’ve been putting up for 20 years, then please disregard……  Happy Friday!!! Hat tip to…

In their 2019 construction economic forecast, the Associated Builders and Contractors predicts that the construction sector will remain strong in 2019, however they do warn about inflationary pressures on the horizon.  They say job growth, high backlog and healthy infrastructure investment all spell good news for the industry. In addition they add that historically low unemployment has created a construction workforce shortage of an estimated 500,000 positions, which is leading to increased compensation costs. “U.S. economic performance has been brilliant of late. Sure, there has been a considerable volume of negativity regarding the propriety of tariffs, shifting immigration policy, etc.,…

The U.S. government is reporting that privately‐owned housing starts in November were at a seasonally adjusted annual rate of 1,256,000. This figure is 3.2% above October’s revised estimate but is 3.6% below November, 2017.   Single‐family housing starts in November were at a rate of 824k, which is 4.6% below October’s revised number.  The November rate for units in buildings with five units or more was 417k.  Privately‐owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,328,000. This figure is 5% above October’s revised rate and is 0.4% above November, 2017.  Single‐family authorizations…

The American Automobile Association (aka AAA) says that a record-breaking number of American will travel this holiday season – predicting that over 112 million people will do so.  They say more Americans will travel by car this holiday season than ever before and poeple traveling by plane will be the highest in 15 years.  Are we there yet??? “Strong economic growth fueled by robust consumer spending continues to drive strong demand for seasonal travel…”  Said Bryan Shilling, managing director, AAA Travel products and services. Click here to read the full release at AAA.com.

We have had a lot of stories about where people are moving to and perhaps more importantly, why and from what.  A recent article on Realtor.com says that America is going through a period of profound migration with some places losing while others are gaining – which is having an enormous impact on both of these respective areas (where they came from and going to).  To that end, the folks over at Realtor.com recently analyzed the data to find which metro areas are gaining the most residents and which ones that area seeing the biggest drain. Spoiler alert;  by and…

According to the latest Yardi Matrix, U.S. multifamily rents fell ever so slightly in November, dropping $2 to $1,419, while year-over-year growth fell by 10 basis points to 3.1%.  In addition they point out that rents are down $3 from the peak of $1,422 in September.  The attribute the small decline to normal seasonal fluctuations.  Indeed… “2018 is shaping up to be another solid year for the multifamily market. Rent growth for the year is 3.1%, which slightly tops our estimate—and those of most market prognosticators—coming into the year. U.S. multifamily rents have stalled in the fourth quarter, but that…

With 2019 just around the corner, Mashvisor released their list of the top 8 cities for a short-term rental investment in 2019.  Using their own data as well from Airbnb, they looked at short-term rental regulations in cities across the country to come up with their list. “Not only does it seem Airbnb investment property can operate legally in these cities, but the cash on cash return for such properties is the highest in the US.” Their top 8 cities for short-term rental investing are: Lansing, MI Tuscaloosa, AL Dubuque, IA Goshen, IN Portsmouth, VA Columbus, GA Key West, FL…

According to recent data from Redfin, U.S. home-sale prices increased 3.3% in November compared to one year ago, coming in at a median price of $298,800.  November marked the third straight month of annual home price gains under 4% after a 77-month-long streak of annual home price gains exceeding 4%.   In addition, the number of completed home sales fell faster than it has in over two years, down 8.3% from November 2017.  Home sales declined in 65 of the 74 largest metro areas that Redfin tracks. “The tide has turned,” said Redfin chief economist Daryl Fairweather. “Sellers are now competing…