Author: Brad Beckett

Christmas is next week and the folks over at Statista have put together their list of the most desired gifts.  Not surprising, money is the most desired Christmas present in the U.S. this year, followed by clothes and gift cards.  Stay safe, have a Merry Christmas and happy holiday season!!! Hat tip to Statista.

The American Automobile Association (aka AAA) says that over 119 million people will be traveling this holiday season –a record number.  In addition, AAA expects nearly 117 million people will drive to their holiday destinations.  AAA calculates the holiday season from Saturday, December 21 to Wednesday, January 1. “This is the time of year when lifelong memories are made with loved ones, and travel plays a big role in that…This year, with Christmas Day falling on a Wednesday, we’re anticipating record-breaking travel numbers the weekend before and the weekend after the holiday.”  Said Stacey Barber, Vice President of AAA Travel.…

A new report from the NAHB’s Eye on Housing shows that house prices posted modest annual growth for Q3, 2024, however for the past two quarters this price growth has slowed.  The NAHB says this has occurred while elevated mortgage rates have kept many potential home buyers away – even with additional inventory. Between the third quarter of 2023 and the third quarter of 2024, all 50 states and the District of Columbia had positive house price appreciation, ranging from 1.2% to 8.8%. New Jersey and Connecticut topped the house price appreciation list with an 8.8% gain. Click here…

Last week’s infographic illustrated America’s fastest growing housing markets based on data from this report.  That being said, Storagecafe says the U.S. housing market has been on a steady, albeit slow, growth trajectory over the past two decades with total inventory reaching 144 million housing units in 2023 – up 16.7% from 2005.  However, data show that even though homes continue are being built, housing supply still falls short of meeting demand, and prices keep rising.  Their recent report points out that housing stock has evolved differently across various types, with single family and middle housing under-performing while multifamily developments…

According to the CoreLogic’s latest Loan Performance Insight Report, the share of U.S. borrowers who were in some stage of delinquency (30 days or more past due, including those in foreclosure), was up 0.2% year-over-year from September, 2023.  In addition they point out that Early-Stage Delinquencies (30 to 59 days past due) in September were 1.6%, up from 1.5% from one year ago.  The foreclosure inventory rate (share of mortgages in some stage of the foreclosure process) was 0.3% in September, same as a year ago. “Loan performance in the third quarter of 2024 showed a continual upward trend in…

While smoking is not as “in vogue” as it once was, a recent report from the Tax Foundation says higher tax rates on cigarettes incentivize smuggling and as tax rates increase, consumers and suppliers search for ways around these costs.  They point out that, when it comes to cigarettes, consumers tend to shop across borders where the tax rates are lower and dealers develop black and gray markets to sell illegally to consumers, paying little or no tax at all.  They say cigarette smuggling is both a national problem and a lucrative criminal enterprise.  Citing data from a partnership with…

As the 2025 predictions roll in, the researchers at Realtor.com says mortgage rates will continue to average above 6% and home prices will keep rising. In addition they say the supply of homes for sale will continue to improve as well as new-home construction. “This past year brought us a surprising upward trend in home price growth despite the persistence of high mortgage rates and rising inventory,” Realtor.com economists wrote. “Mortgage rates are expected to keep mortgage payments essentially unchanged in 2025 despite continued home price growth.” Click here to read the full report at Realtor.com.

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3% in November, 2024.  The all items index was up 2.7% for the 12 months ending in November.  The index for shelter rose 0.3% in November, accounting for nearly forty percent of the monthly all items increase. Click here to read the full release at the Bureau of Labor Statistics.

A recent report from StorageCafe says the South is leading the boom in America’s fastest-growing housing markets with Texas “stealing the spotlight.”  In fact, nationally, they say housing inventory rose by 16.7% from 2005 to 2023.  Indeed…stay safe and have a Happy Friday!!! Hat tip to StorageCafe.

A new report from the National Association of Realtors says with rapidly changing buyer preferences and abilities, there has been a lot of migration within the United States over the past few years.  They point out that data show that southern states such as Florida, Texas, and the Carolinas have been big winners in these domestic migration patterns, largely led by more affordable conditions and opportunities.  In fact, 46% of respondents’ clients moved to the South, 25% moved to the West, 18% moved to the Midwest, and 11% moved to the Northeast.  Indeed…. Millions of Americans move and migrate throughout…