Author: Brad Beckett

The U.S. government is reporting that sales of new single-family houses in August 2018 were at a seasonally adjusted annual rate of 629k.  This figure is 3.5% higher than July’s revised rate and 12.7% higher than one year ago.  The median sales price of new houses sold in August 2018 was $320,200 and the average sale price was $388,400.  There were an estimated 318k homes for sale at the end of August representing a 6.1 month supply. Click here to read the full release on Census.gov.

For many readers, this is already a common problem and unfortunately it’s caused many to simply ignore unfamiliar numbers.  Technology site is CNET is reporting about a recent study that predicts nearly half of mobile phone calls in 2019 will be scams. The report, from First Orion, says that the percentage of scam calls in US mobile traffic increased from 3.7% in 2017  to 29.2%  this year and they predict it will rise to 44.6% in 2019.  The data was revealed in First Orion’s inaugural 2018 Scam Call Trends and Projections Report.  Stay tuned….this isn’t going to be pretty and…

According to the latest S&P CoreLogic Case-Shiller Indices, home prices showed a 6% annual gain in July, down from 6.2% in June. Their 10-City Composite annual increase came in at 5.5% and their 20-City Composite posted a 5.9% year-over-year gain, down from 6.4% in the previous month.  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. “Rising homes prices are beginning to catch up with housing,” says David M. Blitzer, Managing Director…

HouseCanary is reporting that at the end of the Q2 2018, their Canary Rental Index (CRI) showed a national median rental yield of 8.41%, down 0.19 percentage points from the end of the first quarter of 2018, when the national median rental yield was 8.60%.  They attribute this to shrinking rental yields that’s been evident since at least July of 2013, when the national median rental yield almost hit double digits at 9.80%.  In other words, investors who bought homes in June 2018 could expect a median return on investment of 8.41% nationwide; return on investment is higher in half…

Local Market Monitor, a National REIA preferred vendor, recently released their National Economic Outlook for September, 2018 where they share their thoughts on developments taking place in the U.S. economy.  This month they warn about consumer borrowing and the banks and politicians that are seemingly incentivized to encourage it. National Economic Outlook – September 2018 September 20, 2018 By Ingo Winzer I’ve been harping about consumer debt for a while now because I think it will cause the next recession. It won’t trigger it, that will be some unrelated event, but all of a sudden people will realize they can’t spend…

According to data recently released by the National Association of Realtors, existing home sales remained steady in August after four months of decline.  However, they also report that sales are down 1.5% from one year ago.  There were 1.92 million existing homes available for sale at the end of August, slightly higher than one year ago.  Unsold inventory is at a 4.3-month supply at the current sales pace.  Once again, lack of inventory is largely to blame: “While inventory continues to show modest year over year gains, it is still far from a healthy level and new home construction is…

The U.S. Government is reporting that privately owned housing starts in August were at a seasonally adjusted annual rate of 1,282,000. This figure is 9.2% higher than July’s revised estimate and is 9.4% higher than August, 2017.  Single-family housing starts in August were at a rate of 876k and the rate for units in buildings with five units or more was 392k.  Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,229,000. This is 5.7% lower than July’s revised rate and is 5.5% lower than August 2017. Single-family authorizations in August were…

This Tuesday, September 25th is national “If You See Something, Say Something” Awareness Day.  The U.S. Department of Homeland Security implemented this campaign to engage the public in protecting our homeland through awareness-building, partnerships, and other outreach.  We all must remember that one of the blessings we share by living in a free country means that we have to accept a certain amount of vulnerability.  Remember, if you see something that looks suspicious, something not quite right, say something….Happy Friday!! “Across the country, in our communities, we share everyday moments with our neighbors, family, coworkers, and friends.  We go to…

The U.S. Department of Housing and Urban Development (HUD) recently announced that it was charging a landlord in New Orleans with housing discrimination for publishing an advertisement that discriminated against families with children. The ad included language that stated “No Teenagers Please.”  Below is HUD’s complete release, reprinted here as a reminder to landlords about the importance of the Fair Housing Act: WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) announced today that it is charging a New Orleans landlord with housing discrimination for publishing an advertisement that discriminated against families with children. The ad, which was…

Where are America’s most expensive ZIP codes for rentals?  Examining this data can reveal a lot about a town or community.  To that end, RentCafe recently compared average apartment rents for all ZIP codes in 130 major U.S. markets using data from the Yardi Matrix.  Ok…but, here’s where it gets interesting;  their research shows that of the top 50 ZIP codes with the highest rent, 26 of them are in New York City’s Manhattan!  Go figure?  However, if you go through their findings it does yield some surprises and offers up some good data…..New York being the exception to the…