Author: Brad Beckett

A new analysis by the Associated General Contractors of America shows that between March 2016 and March 2017 thirty-nine states added construction jobs.  Using data from the U.S. Department of Labor, the AGC noted that while contractors are worried about being able to find enough workers in the future.  California added the most construction jobs (42,200 jobs) over the past year, followed by Florida (36,500 jobs), Texas (18,900 jobs), and Washington (12,200 jobs).  Ten states and the District of Columbia shed construction jobs between March 2016 and March 2017. Employment was unchanged in West Virginia. Illinois lost the highest number…

The U.S. Census Bureau is reporting that at the end of Q1 2017 The U.S. homeownership rate stood at 63.6% (virtually unchanged from last quarter) and the national vacancy rate for rental housing was 7% and 1.7% for homeowner housing – both virtually unchanged since last quarter.  Approximately 87.3% of the housing units in the United States in Q1 were occupied and 12.7% were vacant.  Owner-occupied housing units made up 55.5% of total housing units, while renter-occupied units made up 31.8% of the inventory.  Vacant year-round units comprised 9.4% of total housing units, while 3.3% were for seasonal use. Click…

Data powerhouse Attom Data Solutions (parent company of RealtyTrac) recently released their Q1 2017 U.S. Home Sales Report which showed that homeowners who sold in their homes in the first quarter realized an average price gain of $44k, which represented an average of a 24% return on the purchase price.  This is the highest average price gain for sellers since the third quarter of 2007.  Metro areas with the highest percent return on the previous purchase price were San Jose, California (71% average ROI); San Francisco, California (65%); Seattle, Washington (56%); Portland, Oregon (52%); and Modesto, California (51%).  In addition,…

According to a recent Gallup poll, once again, for the 4th year in a row, real estate remains the top choice of Americans best long-term investment.  The results found that 34% chose real estate, 26% chose stocks, 18% chose gold, 13% chose savings accounts/CD’s, and 5% chose bonds as the best place to out money for the long-haul.  Want to learn more about how to get started in real estate investing? click here. Click here to read the full story on Gallup.com

We’ve had several posts about property taxes this year (rates, amounts, high/low etc).  With those in mind (of course) the folks over Howmuch.net said it best in a recent post about property taxes, and it’s one that is often overlooked (or ignored) by policymakers – especially when they look for additional sources of revenue: “Even if you rent instead of own, property tax still is an important component of your housing cost. Your landlord will take the tax on his house – your home – into account to calculate your rent. So either way, real-estate tax is a factor in…

S&P CoreLogic Case-Shiller recently released their National Home Price NSA Index which showed that home prices rose at 5.8% annually in February, representing a 32-month high.  Their 10-City Composite posted a 5.2% annual increase and their 20-City Composite reported a year-over-year gain of 5.9%.  Seattle, Portland, and Dallas reported the highest year-over-year gains among the 20 cities. Fifteen cities reported greater price increases in the year ending February 2017 versus the year ending January 2017. “Housing and home prices continue to advance…The S&P Corelogic Case-Shiller National Home Price Index and the two composite indices accelerated since the national index set…

This has to be one of the strangest things we’ve come across in a while.  According to cutting edge news site New Atlas, a Canadian company called Modpools is repurposing shipping containers into trendy above-ground swimming pools, complete with LED lighting and window.  The pools are relocatable, designed to take advantage of the container’s strength & portability, and can be installed with “minutes” of delivery.  Indeed….We’ve might have seen everything now. “What we mean when we say it can be set up in minutes, is that it delivers as fully functional, so all the plumbing, heater and electrical are all…

Black Knight Financial Services recently released their February, 2017 Home Price Index (HPI) reporting that U.S. home prices were up 5.7% year over year in February and up .08% for the month.  The HPI value for February was $268k – a new post-crisis peak!  In addition, home prices in six of the nation’s 20 largest states (Massachusetts, New York, North Carolina, Tennessee, Texas and Washington) and nine of the 14 largest metros hit new peaks (Austin, TX; Boston, MA; Charlotte, NC; Columbus, OH; Dallas, TX; Denver, CO; Houston, TX; Kansas City, MO; Nashville, TN; Portland, OR; San Antonio, TX; San…

CNBC’s Diana Olick is reporting that this Spring’s housing market is the “strongest seller’s market ever.”  She says that, nationwide, as more homes come on the market they’re “flying off fast.”  As we’ve posted over the past couple weeks, home prices are at new peaks and inventory levels are at record lows. “In order to compete, buyers are coming in with cash and dropping contingencies. That is because in such a hot market, homes are appraising well below the sale price. That makes it even harder for first-time, mortgage-dependent buyers to succeed.” Click here to read the full story.

A new report form the U.S. Census Bureau confirms what many of us have long suspected;  more young adults aged 18-34 are living at home with their parents versus on their own with a spouse.  Furthermore, of those young people living in their parent’s basement (home), 1 in 4 are idle (neither working or going to school) – which represent about 2.2 million 25-34 year-olds.  Data also show that while young people are delaying marriage, 8 out of 10 do finally get married by the age of 30.  This report used two Census Bureau surveys to look at the demographic…