Author: Brad Beckett

Rental information site Zumper recently released their latest monthly National Rent Report for November, 2024.  According to their data, median rent for 1-bedroom apartments was $1534 (same as October) and $1,902 (down 0.4%) for two-bedrooms.  Be sure to check out their entire list of the top 100 metro areas. “Our national rent index showing flat to declining monthly rates is a clear sign of a shift into the slow moving season…We anticipate that national rents will continue to see modest declines through the rest of this year and likely into the beginning of next year as well.”   Said Zumper…

According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), home prices were up 4.3% from Q3 2023 to Q3 2024.  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 price growth slowed in the third quarter, continuing a trend that started in the fourth quarter of the previous year…While house prices continued to increase because housing demand outpaced the locked-in housing supply, elevated…

As 2024 begins to wind down, the forecasts for 2025 are starting to roll in.  A recent prognostication from Bankrate.com. says in 2025 the housing market could have a more favorable outlook than much of 2024 had, due to improving mortgage rates and inventory levels.  However, they also say there’s still uncertainty in the air, though: Rising prices and slowing construction could cause some trouble for buyers in 2025, and the impact of the recent U.S. presidential election remains a wild card.  Indeed… Some key takeaways: Would-be homebuyers continue to be discouraged by elevated mortgage rates & rising home prices.…

According to the latest CoreLogic Single-Family Rent Index (SFRI), U.S. single-family home rental prices are experiencing slower growth in key rental metros which all experienced population spikes during the pandemic.  According to their report, annual U.S. rent growth registered a 2% increase in September, continuing a slowing trend that began in early 2024 but is well below the average annual rent growth of 3.5% that occurred in the decade prior to the pandemic. “Single-family annual rent growth slowed in September to the lowest rate in over four years, and monthly rent growth posted a second month of below-seasonal trend growth,…

The National Association of Realtors is reporting that pending home sales rose 2% in in October, 2024.  The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) came in at 77.4 in October.  The NAR says momentum is building…Indeed. “Homebuying momentum is building after nearly two years of suppressed home sales…Even with mortgage rates modestly rising despite the Federal Reserve’s decision to cut the short-term interbank lending rate in September, continuous job additions and more housing inventory are bringing more consumers to the market.”  Said the NAR’s Chief Economist, Lawrence Yun. Click here to read the full…

The U.S. Government is reporting that sales of new single-family houses in October, 2024 were at a seasonally adjusted annual rate of 610k, which is 17.3% lower than September’s revised rate and is 9.4% lower than one year ago.  The median sales price of new houses sold in October was $437,300 with an average sales price of $545,800.  There were an estimated 481k new houses for sale at the end of October representing a 9.5-month supply at the current sales rate. Click here to read the full report at the U.S. Census Bureau.

If you’re a regular reader of this site you know that we cover inflation pretty extensively.  Today’s graphic from Statista says there’s no way around the fact that consumer prices in the United States have risen sharply over the past several years – with a host of factors coming together to form a perfect storm of inflationary pressure.  Their chart illustrates which categories have been hardest hit by this wave of inflation.  Stay safe and have a Happy Friday!!!  “Since February 2020, the last month before the Covid-19 pandemic disrupted the global economy, the Consumer Price Index for All Urban…

A recent report from the NAHB’s Eye on Housing says private fixed investment in student dormitories increased by 2.2% to a seasonally adjusted annual rate (SAAR) of $3.9 billion in Q3 of 2024.  They point out that since the pandemic, private fixed investment has rebounded, as college enrollments show a slow but stabilizing recovery from pandemic driven declines.  In essence, they say effective in-person learning requires students to return to campuses, which boosts the student housing sector.  Indeed… “…demand for student housing is growing robustly, because total enrollment in postsecondary institutions is projected to increase 8% from 2020 to 2030,…

A recent article in the Wall Street Journal (reposted on Realtor.com) says “the big wedding can wait” as more and more couples are deciding to jump right into homeownership prior to getting married.  They report that, in 2023, around 555k unmarried couples said they bought their home during the previous year – up 46% from 10 years ago when around 381k couples did the same. In reshuffling the traditional order of adult milestones, some couples may decide not to marry at all, while others say they are willing to delay a wedding. Buying a home is as much, if not…

On a recent episode of Real Estate News for Investors, Kathy Fettke explores the latest trends and predictions shaping the housing market as we approach 2025. From economic growth to mortgage rates, she breaks down expert forecasts on home sales, pricing, and the outlook for real estate investors. Click here to listen.