Author: Brad Beckett

The U.S. Commerce Department reports that sales of new single-family houses in August 2015 were at a seasonally adjusted annual rate of 552k.  This is 5.7% above the revised July rate of 522k and is 21.6% above the August 2014 estimate of 454k. The median sales price of new houses sold in August 2015 was $292,700. The average sales price was $353,400. The seasonally adjusted estimate of new houses for sale at the end of August was 216k  representing a supply of 4.7 months. Click here to read the full release.

Over the past 40 years, American household composition has changed dramatically – more singles living alone, children returning to the nest and people living with a partner.  The Sparefoot Blog recently posted the following infographic that illustrates this current phenomenon. Via SpareFoot

Using data from Zillow, the Associated Press is reporting that home rents in the US rose at a slower pace in August.  The downturn may be contributed to a rise in apartment construction in many major cities, which according to the US Commerce Department has seen a year-to-date increase of 12.7%. Real estate data firm Zillow says that median rents rose a seasonally adjusted 3.8 percent from a year ago, off from the annual pace of 4.2 percent in July. Rental prices are still climbing at a faster pace than average earnings, increasing the financial burden of housing and potentially…

A recent article in The Washington Post illustrates occupied housing units, by building type in America’s 10 largest cities.  The chart is based the 2014 American Community Survey’s data on the characteristics of occupied housing and shows the percentage of each city’s type of housing stock – from single-family detached up to 20+ unit multi-families. “These figures tell us not just about the physical character of each city, but the potential they have for new housing as many places (Detroit not withstanding) look for space to fit a growing urban population. Higher density, in all of these cities, doesn’t have to mean Manhattan-style…

The National Association of Realtors (NAR) estimates that when a home is sold in the US, it produces a multiplier effect that generates $57,543 in economic impact.  Those economic contributions are derived from;  Home construction, real estate brokerage, mortgage lending, title insurance, rental and leasing, home appraisal, moving and other related activities. Please see Economic Impact of Real Estate Activity: United States By NAR Research August 2015

With economic conditions improving now is a great time to invest in real estate.  TheStreet.com recently posted a short article with good advice for those thinking about making the commitment.  Remember, real estate investment can be wonderful way to build wealth and a better life.  A great place to start is with your local REIA where you will find people, like yourselves, who will share their knowledge & expertise as well as good advice. “Now is a good time to be a buyer in the U.S. residential real estate investment market. But be smart about it, do your due diligence,…

The National Association of Realtors (NAR) says urban populations are growing faster than ever and has posted an interesting data-driven infographic illustrating reasons for that recent population growth.

Believe it or not, pet-hoarding is on the rise in 2015.  In fact, according to the Buildium Blog, “owners who finds themselves renting to a pet hoarder of any stripe is likely dealing with not just with the potential property damage, but also with a tenant’s potential mental health issues.”  This a real issue facing real estate investors today – especially owners of multi-families.  The article also reveals the following statistics: “…reports of animal/pet hoarding today are on the rise. According to information from The Anxiety and Depression Association of America, reports of hoarding behavior have quintupled just over the…

U.S. House of Representatives House Financial Services Committee Chairman Jeb Hensarling (R-TX), commenting recently on the 50th anniversary HUD’s creation, said that new ideas are needed to fight poverty and housing affordability challenges.  As reported by HousingWire, he stated: “Simply put, we must reform and innovate how we provide assistance for housing in the 21st century or we will continue to fail the very people who are in most need of our help,” he said. “That is why I am calling on all interested advocates, organizations, and ordinary citizens to join the effort to modernize the delivery of federal housing assistance…

The Wall Street Journal reports that a recent study suggests that during an election year, especially one that could be very close, that some home sales could experience declines between two and three tenths of a percent.  The data was culled from Zillow using 73 U.S. gubernatorial elections in 35 states from 1999 to 2006.  While not a major factor, it is still fairly interesting and worth noting as we enter 2016. “The likely cause, says Dr. Canes-Wrone, is uncertainty, the notion being that house hunters are more reluctant to buy if they’re unsure how an upcoming election will affect…