Author: Brad Beckett

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) was up 0.1% in march, 2023.  The all items index was up 5% for the 12 months ending in March.  Once again this month, the BLS says the index for shelter was the largest contributor to the monthly all items increase, more than offsetting a decline in the energy index.  In addition, CNBC produced a chart breaking down inflation for the month of March 2023. Click here to read the full report at the Bureau of Labor Statistics. Click here to read…

Knowing your customers is vitally important in today’s housing market.  Especially as aging baby boomers downsize and relocate it’s important to know as much as you can about this demographic.  Today’s interactive infographic from the U.S. Census bureau offers a wide range of statistics about America’s over 65 population.  Interestingly, the pull down menu offers up over 20 different characteristics related to this growing population.  As always, stay safe and a have a Happy Friday! Hat tip to the U.S. Census Bureau

According to the latest CoreLogic Loan Performance Insights Report, in January 2023, 2.8% of mortgages were delinquent by at least 30 days or more including those in foreclosure.  This figure represents a 0.5-percentage point decrease in the overall delinquency rate compared with January 2022.  CoreLogic says measuring early-stage delinquency rates is important for analyzing the health of the mortgage market.  Their monthly report coverage at the national, state and Core Based Statistical Area (CBSA)/Metro level and includes transition rates between states of delinquency and separate breakouts for 120+ day delinquency. “The share of home loans in delinquency continues to decline,…

A new report from Wells Fargo says credit is getting more expensive and likely to become harder to access in the wake of the recent so-called banking crisis.  Their report looks at the degree to which credit has sustained consumer spending so far and how diminished access to credit could negatively impact consumer spending. Some key points: Consumers are relying on credit much more than in the past. It’s more expensive to borrow and becoming more difficult to gain access to credit. Tighter credit could result in layoffs and negatively impact disposable income growth. Consumers’ capacity to spend could be…

Recently, the Biden Administration released its Blueprint for a “Renters Bill of Rights.”   As part of a 5-part series on the Rent Perfect Podcast, David Pickron and his General Counsel Denny Dobbins discuss how this blueprint can and will affect landlords today and in the future. You can download a copy of the White House’s document by clicking here. Here are parts three and four: Click here to listen on Spotify. Click here for Parts 1 & 2.

According to recent data analyzed by the National Association of Realtors, the share of families with children living in their homes under the age of 18 has continued to decline (40%) while, at the same time, pet ownership has steadily risen (70% of households).  Indeed… “Throughout the COVID-19 pandemic, Americans adopted pets for companionship and entertainment. The American Pet Product Association reports that dogs and cats are the most common household pets.” Click here to read the full report at the NAR’s Economist Outlook.

The U.S. government is reporting that total construction spending in February, 2023 was at a seasonally adjusted annual rate of $1,844.1 billion, which is 0.1% below January’s revised estimate but is 5.2% higher than one year ago.  Residential construction came in at a seasonally adjusted annual rate of $852.1 billion in February, which is 0.6% below January’s revised estimate. Click here to read the full report at the U.S. Census Bureau.

Realtor.com says not all corners of the U.S. are quite as “new-home parched” as others. They say there are many places across the nation where builders are putting up new homes to meet growing demand – especially in areas where the dollar stretches further.   As you might have guessed, most of these locations are in the South – which dovetails with current moving trends. “Builders are simply following where more Americans are moving…These are fast-growing cities, with a lot of lifestyle amenities and a lot of young people and professionals moving in. Builders have recognized this and are trying to…

New data from Redfin shows that the typical down payment fell over 10% over a one-year period ending in January, coming in at $42k.  They say this is the lowest is has been in nearly two years.  They also report that the median down payment was down 35% from its peak in June, but it was still up more than 30% from pre-pandemic levels. A few key points: The median down payment was equal to 10% of the purchase price, down from 14% a year earlier.  Nearly one-third of home purchases were in cash, the highest share in nine years. …

This Sunday, April 9th is Easter.  Each year the holiday falls on the first Sunday following the full moon after the vernal equinox.  Interestingly, the date fluctuates each year between March 22nd and April 25th.   Today’s infographic from the dataviz blog takes a look at “Easter by the Numbers” all the way from the resurrection of Jesus Christ to the number of chocolate Easter bunnies consumed annually.  Stay safe and have a Happy Easter and a Happy Friday!!! So what exactly is Easter?  The History Channel says: “Easter is a Christian holiday that celebrates the belief in the resurrection of…