According to the latest Yardi Matrix, multifamily rentswere flat in September, coming in at $1,314. Nationally, rents were up 2.2% in September, a 10-basis-point decline from August, however for the third quarter they only increased by $1. The Matrix Monthly is comprised of data gleaned from 121 markets covered by Yardi Matrix. Click here to read the full report at Yardimatrix.com.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
Rental information site Zumper recently released their National Rent Report for October showing that the median national rent for 1-bedroom apartment was $1,183 and $1,402 for a 2-bedroom apartment (same as September). San Francisco continues to dominate their National Rent Index of 100 cities at $3,480/$4500 with Ft. Wayne, Indiana rounding out the bottom at $480/$570. 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…
Using crowdfunding for your next real estate deal is one of the hottest things happening with real estate investing. Now there’s a new startup that wants to help potential homeowners use this alternative form of financing by helping them come up with their down payment. HomeFundMe wants to help buyers increase the amount of their down payment, which they say results in more buying opportunities, better loan terms, and even lowering or eliminating PMI. Their goal is to create a more responsible home-buyer by better positioning them financially. Indeed, the fee-free platform can even link to wedding registries and other…
We already know that student housing can be a lucrative investment – especially in the right location. Recently, the folks over at Redfin looked at nearly 200 public colleges & universities across the country to and compared the monthly dorm rate with the median condo mortgage in their respective cities. Then they ranked the colleges by enrollment to narrow down their list to the 15 most popular ones. Now that the secret’s out, are there any good deals left to be had? “Homeownership can be a great way to build wealth…Students will build equity that they can one day use…
The National Association of Realtors recently reported that inventory levels continue to drop – in fact, they’ve fallen for 27 straight months! Today’s infographic from Keeping Current Matters gives us a nice snapshot of August’s existing home sales and good insight into the state of the current market. Happy Friday! Hat tip to Keeping Current Matters.
According to the latest CoreLogic Home Price Index (HPI) Report, home prices across the country rose 6.9% year over year for August and are up 10.9 % from July. In addition, Corelogic predicts that home prices will increase by 4.7% on a year-over-year basis through August 2018. Key takeaways: National Home Prices Projected to Increase 4.7% by August 2018 Utah and Washington Continue to Post Double-Digit Annual Home Price Increases Las Vegas Home Prices Increase 8.4% Year Over Year, Highest Among Large Metros “While growth in home sales has stalled due to a lack of inventory during the last few…
National apartment listing site ABODO recently reported that the median nationwide rent price increased in October to $1,020 for a one-bedroom apartment – literally a .39% increase year to date. The top three cities with the largest rent increases were: Cleveland, OH (9.9%); Santa Ana, CA (8.2%); and Colorado Springs, CO (6.4%). Decreases going into October were: Newark, NJ (-6%), Norfolk, VA (-5.9%) and Houston, TX (-5.1%). 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…
The U.S. Census Bureau is reporting that total construction spending in August was estimated at a seasonally adjusted annual rate of $1,21 trillion, 0.5% above July’s revised number and 2.5% higher than August, 2016. Through August, construction spending amounted to $806.2 billion, 4.7% more than the same period in 2016. Click here to read the full report.
How are people distributed in America’s urban areas? A recent Mortgage Bankers Association “Chart of the Week” took a closer look and found that just under a quarter of US households live in relatively dense urban areas and they are twice as likely to live in multifamily housing (compared to suburbanites). As for diversity in urban housing markets, 33% are Hispanic (17% nationally), 17% Black (12% nationally), 10% Asian (5% nationally) and 3% non-Hispanic, non-White racial and ethnic groups (3% nationally). Thirty-eight percent of the population in urban housing markets identifies as non-Hispanic White. “Every community and housing market in…
If you going to exit the stage it’s always best to do it on your terms (unlike Terek and Christina) – which is exactly what Chip & Joanna Gaines are doing with their hit TV show Fixer Upper. With that being said, Season 5 will be the last for Fixer Upper and that’s okay with the always s0-happy couple. According to Realtor.com, they’re “just plain pooped” and are ready to move on to the next chapter of their lives. “Though our ‘Fixer Upper’ chapter is coming to a close, we aren’t done with Waco. We aren’t done renovating homes. We…
