Each month we post inflation data (CPI) from the U.S. Bureau of Labor Statistics. Recently we came across an interesting site that allows you to calculate inflation for any year as well as comparing the value of a dollar with various years. Interestingly, Inflation has averaged 0.93% per year since 1635, causing an overall price difference of 3,583.02%. There is a lot of interesting data in this site. Click here to read more at the CPI Inflation Calculator. (hat tip to Joe)
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
According to Black Knight’s latest Mortgage Monitor, the total U.S. loan delinquency rate (loans 30 days+ past due but not in foreclosure) as at 3.17% in August, up by 4 basis points and is nearly a full percentage point below its 2015-2019 same-month average. In addition, serious delinquencies (90+ days past due) continued to decline, falling 20K from July to 448K – the lowest level since June 2006. Click here to read the full report at Black Knight.
According to the latest U.S. Home Flipping Report from ATTOM, 84,350 single-family houses and condominiums were flipped in Q2, 2023 representing 8% of all home sales in the first quarter. Interestingly, ATTOM says even as flipping activity decreased, investor profits and profit margins both showed more signs of recovering from a slump that had slashed them by more than half in just two years. “Fortunes for investors who flip homes for quick profits are showing more signs of turning around after a long and unusual period when they went down while the rest of the market went up.” Said Rob…
The National Association of Realtors is reporting that existing home sales were down 0.7% in August to a seasonally-adjusted annual rate of 4.04 million (down 15.3% year over year). Total housing inventory at the end of August was 1.1 million units, down 0.9% from July but down 14.1% from one year ago. Unsold inventory sits at a 3.3-month supply at the current sales rate with properties remaining on the market for around 20 days. The median existing-home price for all housing types in July was $407,100, up 3.9% from one year ago. “Home prices continue to march higher despite lower…
The U.S. government is reporting that privately‐owned housing starts in August were at a seasonally adjusted annual rate of 1,283,000, which is 11.3% below than July’s revised number and is 14.8% lower than one year ago. August’s rate for units in buildings with five units or more was 334k. Privately‐owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,543,000, which is 6.9% higher than July’s revised number but is 2.7% lower than one year ago. Authorizations of units in buildings with five units or more were at a rate of 435k in…
It’s one of the most basic investing principles and might have been the first one you learned – it’s the “Rule of 72.” The “rule” is the classic shortcut that estimates how long it takes to double your money. Today’s graphic from the Visual Capitalist takes the rule of 72 shortcut and uses the more precise logarithmic formula to show how long it takes to grow your money at different annualized returns. Indeed….Stay safe have have a Happy Friday!!! Hat tip to the Visual Capitalist.
A recent survey from Redfin says nearly one of every five (18%) millennials and 12% of Gen Zers believe they will never own a home. To get their data, Redfin surveyed just over 5k U.S. residents who either moved in the last year, plan to move in the next year, or rent their home. Some key findings: Roughly one in 10 Gen Z respondents believe they’ll never own a home. Affordability is the number-one barrier to homeownership for young Americans. About one-third of Gen Zers and millennials cited high mortgage rates. Click here to read the full report at Redfin.com.…
On a recent episode of the AZREIA Show, Marcus Maloney & Michael Del Prete talk with architectural expert Nicholas Tsontakis about architectural design and the growing trend of additional dwelling units (ADUs) in Phoenix – and how they can increase cash flow for investors. In addition, the conversation delves into the importance of architectural design and the influence of major architects on your projects. Click here to listen on Spotify.
The NAHB says persistently high mortgage rates continue to erode builder confidence, as sentiment levels have dropped below the key break-even measure of 50 for the first time in five months. As such, builder confidence in the market for newly built single-family homes in September fell five points to 45, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). “…a growing number of buyers are electing to defer a home purchase until long-term rates move lower…” “…Shelter inflation posted a 7.3% year-over-year gain in August, compared to an overall 3.7% consumer inflation reading.” Said the…
According to the ATTOM Data’s August 2023 U.S. Foreclosure Market Report, there were 33,952 U.S. properties with foreclosure filings in August – up 7% from July but down 2% from one year ago. In addition, ATTOM says nationwide one in every 4,113 housing units had a foreclosure filing in August, 2023. States with the highest foreclosure rates were Nevada (one in every 2,224 housing units with a foreclosure filing); Illinois (one in every 2,433 housing units); South Carolina (one in every 2,506 housing units); New Jersey (one in every 2,585 housing units); and Delaware (one in every 2,618 housing units).…
