Rental information site Zumper recently released their National Rent Report for November that showed another month of mixed results across the country with their index falling for the 3rd straight month. The national average rental rate for one-bedroom units fell 0.9% to $1,126 while the 2-bedroom average fell 0.5% to $1,344. Zumper’s National Rent Report analyzes rental data from over 1 million active listings across the U.S. to calculate median asking rents for the top 100 metro areas by population. “It certainly seems like many rental markets are slowing down as we head into the winter months where the number of…
Author: Brad Beckett
Data powerhouse RealtyTrac recently released an analysis showing that men, on average, had a higher rate of foreclosure than women. Interestingly they discovered that 73 out of every 10k homes with individual male homeowners were in foreclosure as of the end of Q3 2016 while only 72 out of every 10k homes owned by individual females were in foreclosure. The gap isn’t that large but sure makes for an interesting infographic, nonetheless….Happy Friday! Click here to read the full report on RealtyTrac.com
Comprehensive data powerhouse RealtyTrac recently released their Q3 2016 U.S. Home Sales Report which showed distressed sales (including REO’s. sales of homes actively in foreclosure, and short sales) made up 12.9% of all U.S. single family home and condo sales in the 3rd quarter of 2016. This number was down 2.1% from the previous quarter and represents the lowest share of distressed home sales since the 3rd quarter of 2007 when it was 12.3%. The report also revealed that all-cash purchases accounted for 25.9% of all single family home and condo sales. This was down 1.5% from previous quarter and…
The U.S. Department of Commerce is reporting that construction spending during September, 2016 was estimated at a seasonally adjusted annual rate of $1.15 trillion, which is 0.4% lower than August and 0.2% lower than one year ago. Total construction spending through September was $863.2 billion, which is 4.4% higher than in August 2015. Breaking this down a little, private residential construction was at a seasonally adjusted annual rate of $453.7 billion in August, 0.5% above August revised estimate of $451.3 billion. Private nonresidential construction was at a seasonally adjusted annual rate of $426.0 billion in September, 1% below August’s revised…
The latest Yardi Matrix is reporting that the average U.S. monthly rent dropped $3 in October to $1,216. The drop, while slight, represented the biggest drop in three years. Year-over-year, average rents rose 4.4% nationwide. Yardi says the decline demonstrates a reversion to more “normal” rent growth, which they forecast earlier this year. “The deceleration is far from being a sign that the sector is overheated. Fundamentals in most markets continue to be strong. Occupancies of stabilized properties are not far from cyclical highs, while the growing population coupled with strong job numbers is producing above-trend household formation that leads…
Crowdfund Insider is reporting that the Securities and Exchange Commission recently announced changes to Rules 147 & 504, which are intended to make it easier for intrastate sales activities. According to the report, the updates will “impact the ability for issuing companies to crowdfund from state residents.” They reported that the changes were widely expected and received the support of state securities regulators. Click here to read the report on Crowdfundinsider.com. Click here to read Crowdfund Insider’s Fact Sheet
The U.S. Census Bureau recently reported that national vacancy rates in the 3rd quarter of 2016 were 6.8% for rental housing and 1.8% for homeowner housing. The rental vacancy rate of 6.8% was 0.5 percentage points lower than the rate in the Q3 of 2015 and virtually the same rate as Q2 of 2016. The homeownership rate was 63.5% was not statistically different from the rate in Q3 of 2015 and was 0.6 percentage points higher than the rate in the Q2 of 2016. Click here to read the full report on Census.gov.
Black Knight Financial Services released their Home Price Index (HPI) report for August showing home prices were up 0.3% from July and up 5.3% from one year ago. Currently at $266K, the U.S. HPI has risen over 33% from the market’s bottom and is now within just 0.7% of a new national peak. The report also shows that home prices in nine of the nation’s 20 largest states and 9 of the 40 largest metros hit new peaks in August…..Almost a carbon copy of July’s report. Click here to read the full report at Black Knight Financial Services.
Foreclosure Legacy From The Housing Crisis Is Finally Dead Share of Foreclosure Auctions Sold to Real Estate Investors Back Above Pre-Recession Levels By John Triplett NationalREIA Foreclosures have been steadily dropping and have finally reached a level that existed before the housing crisis, according to a release from ATTOM Data Solutions, parent company of RealtyTrac. “Foreclosure activity has been on a steady slide downward over the past six years, finally dropping back below pre-crisis levels in September,” Daren Bloomquist, senior vice president at ATTOM, said in the release. “While we’ve known that the national foreclosure problem has been dying a…
With homes moving off the market in October up to 2% faster than this time last year the folks over at Realtor.com decided to it would be a good time to put together a list of America’s Top 20 Real Estate Markets. Using data from where homes are in highest demand (listing views by market) and selling the fastest (measured by days on market). They also report that the median list price of $250k – which is 8% higher than a year ago and a new record for the month of October. “We are seeing evidence of stronger-than-normal demand this…