Author: Brad Beckett

Rental information site Zumper recently released their National Rent Report for June showing that the median national rent for 1-bedroom apartment was $1,169 and $1,390 for a 2-bedroom apartment.  San Francisco continues to dominate their National Rent Index of 100 cities at $3,370/$4500 with Toledo, Ohio rounding out the bottom at $460/$580.  Be sure to take look at their entire data set. Click here to read the full report on Zumper.com.

According to the latest U.S. Home Flipping Report form ATTOM Data Solutions, over 43k single family homes & condos were flipped nationwide in the first quarter of 2017, down 8% from the previous quarter and down 6% from one year ago, to the lowest number of homes flipped since Q1 2015 — a two-year low.  However, when it comes to financing said flipping, an estimated $3.5 billion was spent – the highest level since Q4 2007 and a 9-year high.  In addition, home flips in the first quarter were 6.7% of all single family home & condo sales, up from…

Is the new American Dream “renting” instead of owning?  In a recent podcast, Kathy Fettke discusses how the old American Dream might not be for everyone and that a “new American Dream seems to be taking shape in the land of the free – one that promotes a lifestyle without financial anchors or home repair responsibilities.” Click here to hear more on NewsforInvestors.com

There’s a good argument to be made that 2017 has been both a great time to buy and sell a home (depending on your reasons).  However there is a point when it’s cheaper (or smarter) to rent rather than purchase.  The folks over at howmuch.net recently broke down the numbers, state by state, to see where its best to do one or the other.  Happy Friday! Hat tip to howmuch.net.

According to recent data form the Associated General Contractors of America, construction employment increased by 11k jobs in May to the highest level since October 2008 even as contractors struggled to find enough workers to meet demand for projects.  According to the report, construction employment totaled 6,881,000 in May – which is 11k more than April’s total and 2.9% higher than one year ago. Residential construction added 7,100 jobs in May.  Non-residential construction employment increased by 4,400 jobs in May. “Construction firms continued adding new jobs at a faster rate than the broader economy during the past year as demand…

According to the latest CoreLogic Home Price Index Report home prices across the country rose 6.9%, year over year and are up 1.6% from March.  In addition, the report says that home prices have increased 47% since bottoming out in March, 2011 and are predicted to increase by 5.1% through April 2018. “Mortgage rates in April dipped back to their lowest level since November of last year, spurring home-buying activity,” said Dr. Frank Nothaft, chief economist for CoreLogic. “In some metro areas, there has been a bidding frenzy as multiple contracts are placed on a single home. This has led…

By now most people in the world of real estate are all too familiar with Zillow and their Zestimate.  However a new home selling product from Zillow has turned some heads.  Zillow Instant Offers is a new option for people wanting to sell their homes quickly.  Right now it’s only available in a few areas but this gist is this;  you submit your property address and get no-obligation offers from “qualified” investors.  This ought to be interesting….. Zillow says it can be done in 5 easy steps: Share your home’s details – Answer some simple questions about your home. Submit…

A recent “chart of the week” from the Mortgage Bankers Association (using Census data) shows that owner-occupied households ratcheted up in Q1 2017  by 1.2 million households, when compared to same period in 2016.  This surge marked the largest year over year increase in owner-occupied households in the post-recession period.  Interestingly,  up until a couple years ago, household formation was dominated by growth in the rental sector.  Take a closer look at the chart below (especially Q4 2006 – Q1 2007) and you can literally see the effects of the housing crisis. Click here to read the full report.…

Black Knight Financial Services recently reported a spike in mortgage delinquencies that were the largest monthly rise in more than eight years. Their First Look report for April 2017 is taken from month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.  According to the report: First-lien mortgage delinquencies rose by 13 percent, the largest monthly increase since November 2008 Month-over-month, the number of borrowers past due on mortgage payments increased by 241,000 April’s delinquency rate increase was primarily calendar-driven (due to both the month ending on a Sunday and March being the…

The U.S. Department of Commerce is reporting that total construction spending in April was estimated at a seasonally adjusted annual rate of $1,218 trillion, which is 6.7% higher than  April 2016.  Private residential construction was at a seasonally adjusted annual rate of $943.3 billion in April, 0.7% below March’s number.  Nonresidential construction was at a seasonally adjusted annual rate of $426.6 billion in April, 0.6% below March’s estimate. Click here to read the full release.