Author: Brad Beckett

In early February, the U.S. Senate confirmed Scott Turner as the 19th Secretary of the U.S. Department of Housing and Urban Development (HUD).  Secretary Turner was confirmed by a vote of 55-44 and sworn in by Associate Justice of the United States Supreme Court, Clarence Thomas. “I am honored and humbled to serve the American people and the Trump Administration as Secretary of Housing and Urban Development…On President Trump’s first day in office, he signed an executive order to lower the cost of housing and expand housing supply. As Secretary, I will lead the department in furthering these priorities.”  -…

The U.S. government is reporting that total construction spending in December, 2024 was at a seasonally adjusted annual rate of $2,192.2 billion, up 0.5% from November’s revised number.  However, December’s estimate is 4.33% higher than one year ago.  Residential construction came in at a seasonally adjusted annual rate of $939.5 billion in December, which is 1.5% higher than November’s revised estimate. Click here to read the full report at the U.S. Census Bureau.

This Sunday, February 8th, the super deluxe happy fun bowl (aka Super Bowl 59) will be played in New Orleans, LA.  The Kansas City Chiefs and Philadelphia Eagles will battle it out to claim the top NFL crown.  Today’s graphic from the U.S. Census Bureau asks if someone from your hometown is playing in the “big game?”  Be sure to click on the map to make it interactive…  Stay safe and have a Happy Friday!! Hat tip to the U.S. Census Bureau.

According to their “advance” estimate, the U.S. Bureau of Economic Analysis is reporting that America’s real gross domestic product (GDP) increased at an annual rate of 2.3% in Q4 2024. Click here to read the full report at the U.S. Bureau of Economic Analysis.

The latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 3.8% annual increase for November, 2024.  Their 10-City Composite increased 4.9% and their 20-City Composite increased 4.3%, year-over-year. “With the exception of pockets of above-trend performance, national home prices are trending below historical averages…” Said Brian D. Luke, Head of Commodities, Real & Digital Assets at S&P Dow Jones Indices (S&P DJI). Click here to read the full report at S&P Dow Jones Indices.

In a recent episode of the Idaho Real Estate Investor Show, Jonna Weber talks with David Pickron, an experienced real estate investor and founder of Rent Perfect, to discuss how to become a successful landlord. She and David discuss best practices for tenant selection, the importance of thorough background checks, and leveraging technology for efficient property management. In addition, Jonna talks about how joining a local REIA can be a game-changer for your real estate journey. Click here to listen.

According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), home prices were up 4.2% from November 2023 to November 2024, after rising 0.3% in November.  The FHFA HPI is the nation’s only collection of public, freely available house price indexes that measure changes in single-family home values based on data from all 50 states and over 400 American cities that extend back to the mid-1970s. “Annual house price gains continued to moderate in November, with all nine Census divisions showing slower pace of growth than a year ago…The slowdown in price growth is likely due to…

Recent analysis from the NAHB’s Eye on Housing reveals young adults ages 25-34 are not moving out and are continuing to live with their parents, based on data from the 2023 American Community Survey.  In fact, data show that the share of adults living with parents or parents-in-law hovered just above 19% in 2023, stagnant from 2022.  They say this has had a profound impact on the housing market; Traditionally, young adults ages 25 to 34 make up around half of all first-time homebuyers. Consequently, the number and share of young adults in this age group that choose to stay…

According to the latest CoreLogic Single-Family Rent Index (SFRI), U.S. single-family home rental prices continue to experience slower growth, registering a 1.5% increase in November, the lowest annual increase in 14 years. “Single-family annual rent growth slowed in November to the lowest rate in about 14 years. Wage growth outpaced single-family rent growth for much of the past two years which kept rent growth in positive territory…Despite the recent slowdown in rent growth demand for rentals should remain strong as wage and job growth are anticipated to remain strong this year.”  Said CoreLogic senior principal economist Molly Boesel. Click here…

The National Association of Realtors is reporting that pending home sales fell 5.5% in in December, 2024, following four consecutive months of increases. The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) came in at 74.2 in December.  The NAR says this drop wasn’t surprising. “After four straight months of gains in contract signings, one step back is not welcome news, but it is not entirely surprising…Economic data never moves in a straight line. High mortgage rates have not significantly dented housing demand due to greater numbers of cash transactions Said the NAR’s Chief Economist, Lawrence…