Author: Brad Beckett

According to the latest ICE Mortgage Monitor, mortgage delinquencies held relatively steady in April with the national delinquency (DQ) rate rising by just 1 basis point (bp) to 3.22% in the month.   The national DQ rate is up 13 bps (4.1%) YoY and while serious delinquencies (SDQs) ‒ loans 90+ days past due but not in foreclosure ‒ improved seasonally in April, they were up 14% YoY, continuing a six-month streak of 10%+ increases.  Foreclosure starts (+13%), sales (+9%), and active inventory (+4%) all rose YoY for the second consecutive month. However, they do point point out that while mortgage…

According to the latest Yardi Matrix Multifamily Report, multifamily rents posted gains in May, 2025 with the average U.S. advertised rent increasing $6 to $1,761. Year-over-year rent growth was 1%.  Yardi says the fundamentals remain healthy: “Uncertainty in the economy and financial markets has so far created minimal impact on multifamily fundamentals, which remained healthy in May….Occupancy rates are slipping in some metros due to the heavy supply pipeline, but the drop is slow, as demand remains strong in high-supply metros.” Click here to read the full report at Yardi.

We have had several posts over the years about renting versus buying.  Today’s graphic from Statista takes a look at recent data from Gallup to illustrate the reasons people choose to rent, versus buying a home.  Their number one reason?  Money…..   As always, stay safe and have a Happy Friday!!! For many people, owning a home still marks the first step towards financial independence, as real estate is considered one of the best long-term investments. Hat tip to Statista.

According to the ADP National Employment Report for May, 2025, private sector employment increased by 37k jobs and annual pay was up 4.5% year-over-year. The ADP National Employment Report is an independent and high-frequency view of the private-sector labor market based on the aggregated and anonymized payroll data of more than 25 million U.S. employees. “After a strong start to the year, hiring is losing momentum. Pay growth, however, was little changed in May, holding at robust levels for both job-stayers and job-changers.”  Said ADP chief economist Dr. Nela Richardson. Click here to read the full report at ADP.

A recent report from Redin says investor purchases of condos fell 3% year over year to the lowest level in 10 years, driven largely by investors retreating from Florida.  They say fewer condos are being bought because the condo market is slowing faster than the overall housing market, with buyers concerned condos will lose value.  Redfin says nearly seven in 10 (68%) U.S. condos sold below list price at the start of 2025 – the lowest share in five years. Florida’s stagnant condo market is one reason investor purchases of condos are down nationwide. Florida condos are struggling largely because…

According to ATTOM Data’s Q2 2025 Vacant Property and Zombie Foreclosure Report, there were nearly 1.4 million residential properties (1,382,480) in the U.S. sitting vacant in Q2, 2025. That figure represents 1.3% of all homes across the nation – roughly the same as Q1.  ATTOM also says there were 222,358 residential properties in the process of foreclosure in Q2 2025, up 4.8% from the Q1 2025 and down 6.3% fyear-over-year.   In addition, they report there were around 7,329 of those pre-foreclosure properties, 3.3%, were “zombie” properties, meaning they had been abandoned by their owners and sat vacant during the foreclosure…

Recent data from the U.S. Census Bureau says cities of all sizes grew on average from 2023 to 2024 with Southern & Western cities experiencing accelerated growth.  Across the country, cities with populations fewer than 5k grew by 0.3% on average, compared with average growth rates of 1% for those with populations of 5k,to 9,999;  1.1% for those with populations of 10k to 49,999; and 1% for those with populations of 50k,or more.  Indeed…. “Many population growth rates reversed or saw major changes between 2023 and 2024…Cities in the Northeast that had experienced population declines in 2023 are now experiencing…

The U.S. government is reporting that total construction spending in April, 2025 was at a seasonally adjusted annual rate of $2,152.4 billion, down 0.4% from March’s revised number.  In addition, April’s estimate is .5% lower than one year ago.  Residential construction came in at a seasonally adjusted annual rate of $892.8 billion in April, which is 0.9% lower than March’s revised estimate. Click here to read the full report at the U.S. Census Bureau.

Rental information site Zumper recently released their latest monthly National Rent Report for May, 2025.  According to their data, median rent for 1-bedroom apartments was $1520 (up 0.2%) and $1,907 (up 0.3%) for two-bedrooms. Be sure to check out their list of the top 100 metro areas. “As May marks the start of peak moving season, the uptick in our national rent prices aligns with typical seasonal trends…With the surge in rental supply beginning to taper off and demand expected to remain strong, we anticipate continued upward pressure on prices in the coming months.”  Said Zumper CEO Anthemos Georgiades Click…

The Visual Capitalist says that in times of economic uncertainty, cash is king.  But where do Americans have the most cash in the bank?  Today’s graphic takes a look of where Americans have the most cash by illustrating the median household bank balance in each state.  Indeed…. stay safe and have a Happy Friday!! Hat tip to the Visual Capitalist.