Author: Brad Beckett

The latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 5.5% annual change for December, 2023.  Their 10-City Composite increased 7% and their 20-City Composite increased 6.1%, year-over-year. “2023 U.S. housing gains haven’t followed such a synchronous pattern since the COVID housing boom. The term ‘a rising tide lifts all boats’ seems appropriate given broad-based performance in the U.S. housing sector. All 20 markets reported yearly gains for the first time this year, with four markets rising over 8%.”  Said Brian D. Luke, Head of Commodities, Real & Digital assets at S&P DJI. Click here to read…

The National Association of Realtors is reporting that pending home sales in January, 2024 dropped 4.9%.  The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) came in at 74.3 in January.  In addition, the NAR is projecting a 13% increase in existing-home sales for 2024.  Indeed… “The job market is solid, and the country’s total wealth reached a record high due to stock market and home price gains…This combination of economic conditions is favorable for home buying. However, consumers are showing extra sensitivity to changes in mortgage rates in the current cycle, and that’s impacting home…

According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), home prices home prices rose 6.5%  between Q4 2022 and Q4 of 2023.  In addition, FHFA’s seasonally adjusted monthly index for December was up 0.1% from 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. “U.S. house prices increased modestly over the course of 2023…However, the market showed signs of softening as house price appreciation…

The Visual Capitalist says that over the last decade, the United States has established itself as the world’s top producer of crude oil – surpassing even Saudi Arabia and Russia.  Using data from the U.S. Energy Information Administration, today’s infographic illustrates the rise of the U.S. as the biggest oil producer.  Stay safe and have a Happy Friday!!! “Over the 2010s, the U.S. witnessed an increase in domestic production, much of it attributable to hydraulic fracturing, or “fracking,” in the shale formations ranging from Texas to North Dakota. It became the world’s largest oil producer in 2018, outproducing Russia and…

The U.S. Government is reporting that sales of new single-family houses in January, 2024 were at a seasonally adjusted annual rate of 661k, which is 1.5% higher than December’s revised rate and is 1.8% higher than one year ago.  The median sales price of new houses sold in January was $420,700 with an average sales price of $534,300.  There were an estimated 456k new houses for sale at the end of January representing a 8.3-month supply at the current sales rate. Click here to read the full report at the U.S. Census Bureau.

Local Market Monitor, a National REIA preferred vendor, recently released their monthly National Economic Outlook where they share their thoughts on developments taking place in the U.S. economy. National Economic Outlook By Ingo WInzer February, 2024 Although inflation is easing and the stock market keeps rising, the outlook for the economy as a whole has not improved. The creation of new jobs – after subtracting covid re-hires in healthcare and government – is languishing at no better than a 1 percent annual rate. Home builders stopped hiring and are laying staff off. Manufacturers are not hiring. Companies are shedding temporary…

On a recent episode of Omaha REIA’s “REIA Radio,” they dive into the remarkable journey of Hugede Luma, a Haitian immigrant whose path to success embodies resilience and determination. From his humble beginnings in Florida to joining his family in Omaha, Hugede’s quest for career advancement led him to pursue Physical Therapy, only to face setbacks.  After two years of intense study, Hugede took the leap into Real Estate investing, securing his first deal—a 28-unit multifamily property through creative financing in 2018. Hugede shares his riveting story of determination, resilience, and triumph against all odds. Hear firsthand how passion, perseverance,…

Rentcafe says their list of America’s best college towns offer a balance between a great education, high quality of life and affordability. They based their ranking on 12 different metrics, including cost of living, tuition fees, graduation rates, natural amenities, air quality, entertainment options and many more.  In addition, they these towns promise a good & vibrant life while offering the thrill of the academic experience.  Indeed…Sounds like a good sales pitch. “Picture this: Crisp fall days spent exploring mountain trails, the smell of fresh coffee as you enter your favorite cafe, and long conversations on campus grounds as ideas…

A special report recently released by ATTOM reveals a significant climb in commercial foreclosures over the past few years, from a low of 141 in May 2020 to the current figure of 635 in January 2024.  In addition, these numbers increased 17% from January and 97% from last year.  States with the most commercial foreclosures in January 2024 included California, New York and Texas. “This uptick signifies not just a return to pre-pandemic activity levels but also underscores the ongoing adjustments within the commercial real estate sector as it navigates through a landscape transformed by evolving business practices and consumer…

In February, the Congressional Budget Office (CBO) released their annual Budget and Economic Outlook that projects deficits will be higher than historical levels, largely due to growth in mandatory spending programs like Social Security and Medicare.  In addition, both revenue & spending are projected to be elevated above historical levels. In a recent analysis, the Tax Foundation presented their major takeaways from the CBO’s report. “Increased outlays are primarily to blame for higher deficits going forward, particularly the growth in mandatory spending programs, including Social Security and Medicare, and rising interest on the debt. From 2024 to 2034, mandatory spending…