The predictions for 2017 keep rolling in and we’re starting to see some common trends. This past week Zillow released their housing predictions for 2017 which they say ” include a change in course for the housing market as it continues to reflect the nation’s economic recovery.” So, will millennials finally be moving out of Mom & Dad’s basement? They predict: Cities will get cozier Millennials will move out of the nest New construction buyers will pony up Commuters will get comfortable Current homeowners will continue to prosper Click here to read the full story on Zillow.com.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
Recently, the members of the American City County Exchange, a division of the American Legislative Exchange Council, representing city and county elected officials in 50 states, sent a letter to President-Elect Trump outlining their concerns about several items affecting local governments and what reforms are needed. Dear President-Elect Trump: The members of the American City County Exchange, a division of the American Legislative Exchange Council, representing city and county elected officials in 50 states, petition you with great urgency. We have been encouraged to hear about your desire to rebuild infrastructure, shrink the regulatory size of the federal government and…
The Commerce Department reported that privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,201,000. This is 4.7% below October’s rate of 1,260,000 and is 6.6% below November 2015. Single-family authorizations in November were at a rate of 778k; this is 0.5% above October’s figure of 774k. Authorizations of units in buildings with five units or more were 384 in November. Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,090,000. This is 18.7% below October’s number and is 6.9% higher than November 2015. Single-family housing starts in…
There are so many ways to market your business that it can make your head spin. Direct mail, bandit signs, yellow letters…on and on. The good folks over at FortuneBuilders have outlined the “6 Real Estate Marketing Myths You Should Never Fall For.” Bottom line; you need a strategy and you need to stick with it! And, a great place to help you get started is at your local NREIA-affiliated real estate investor association. Happy Friday…. “When you first start a marketing campaign – or even if you are already a seasoned marketer – it is crucial to mind your…
The latest Yardi Matrix is reporting that the average U.S. monthly rent dropped $2 in November to $1,214 – marking the 3rd consecutive month of decline. According to the report “rent growth normally slows or reverses in the latter part of the year, as fewer people move during the holidays,” offering reassurance that “the multifamily market is in good shape going forward.” Indeed…. Click here to read the full report at Yardi.com.
Where is the real estate industry headed in 2017? That was the question put to a panel of experts in the latest issue of DS News in their special feature; An Eye Toward the Future, the 2017 Industry Outlook – a sector-by-sector look at the housing industry from the perspective of those who know it best. National REIA’s Charles Tassell was one of the experts who weighed-in on the subject and his interview can be found on page 57. Click here to read the full story on DS News.
Is renting a home starting to look like a better option than buying? According to a recent report from Florida Atlantic University, record high home prices are being driven upward by rising rents in cities across the country. With home prices reaching new highs, the latest Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index says that rents are rising slower than the rate of property price appreciation which they say moves areas into a more rent-friendly direction. They say that the U.S. as a whole and 15 of 23 cities measured by the BH&J Index are in what they…
ATTOM Data Solutions, curator of the nation’s largest fused property database, recently released their Q3 2016 U.S. Home Flipping Report showing there were 45,718 single family home flips, representing 5.1% of all single family home & condo sales in the 3rd quarter. Breaking down this number further shows that 67.9% of these flips were cash purchases – the lowest percentage in eight years. For the report, a home flip is defined as a property that is sold in an arms-length sale for the second time within a 12-month period. ATTOM Data Solutions uses publicly recorded sales deed data from…
December is nearly over so that means the crystal balls are coming out for 2017. This week real estate brokerage Redfin out together their top seven list of housing predictions for 2017. Enjoy… “Strong buyer interest, better access to credit and a modest increase in the number of homes for sale will allow home sales to grow, but not as much as in 2016. Home price growth will hold steady. Homes will sell even faster next year, breaking this year’s record as the fastest real estate market.” Redfin’s seven predictions for 2017 are: 1. The housing market will continue to…
This week data powerhouse CoreLogic released their National Foreclosure Report showing that nationwide foreclosure inventory declined 31.5% (year over year). There were 30k completed foreclosures in October representing a 24.9% decrease from October 2015. Across the country there were approximately 328k homes in foreclosure, which represent 0.8% of all homes with a mortgage. The five states with the highest number of completed foreclosures were Florida (51k), Michigan (29k), Texas (26k), Ohio (23k) and Georgia (20k). Together, they account for 36% of completed foreclosures nationally. “Housing and labor markets improved over the past year, setting the stage for further declines in…
