Author: Brad Beckett

Local Market Monitor, a National REIA preferred vendor, recently released their monthly National Economic Outlook where they share their thoughts on developments taking place in the U.S. economy. Click here for more information about Local Market Monitor.

With the help of the Pacific Legal Foundation, a title company in Texas filed a lawsuit in mid-April against the Financial Crimes Enforcement Network (FinCEN), seeking to block a new rule requiring intrusive data collection and reporting for cash real estate purchases. “Congress cannot shirk its lawmaking responsibilities by granting federal agencies a blank check to write laws…FinCEN is now mandating unreasonable collection and reporting of personal information to the federal government; the agency claims a sweeping power to require reporting on conceivably any consumer transaction simply because systematic reporting might prove useful to the government.”  Said Luke Wake, an…

The NAR says homeowners and renters remodel, redesign, and restructure their homes for a variety of reasons. Their 2025 Remodeling Impact Report takes a deep dive into why a homeowner remodels, the outcome, and the “increased happiness” once a project is completed.  Indeed…Americans spent an estimated $603 billion in 2024 on remodeling their homes. Click here to read the full report at the NAR.

Zillow says this Spring home buyers have more opportunity than they’ve had in years with inventory and affordability improving.  However, as they point out, some areas of the country are best for buyers and some sellers have the upper hand. “While affordability remains incredibly challenging, the housing market is improving for buyers nationally…Some of the strongest buyers markets are in the Southeast, where builders have been able to keep up with demand. Sellers are still in the driver’s seat in the Northeast and in Northern California, where buyers are competing for the few homes that are available.”  Said Zillow® Senior…

Recent data crunched by the NAHB’s Eye on Housing shows that property tax revenue collected by state & local governments reached a new high in 2024 and continued to make up a bulk of tax revenue.  In 2024, total tax revenue was $2.095 trillion – up 4.6% from $2.004 trillion in 2023.  Indeed…. Click here to read the full report at the NAHB’s Eye on Housing.

According to ATTOM’s Q1 2025 U.S. Foreclosure Market Report, there were a total of 93,953 U.S. properties with foreclosure filings in the first quarter.  This figure is 11% higher than the previous quarter and 2% lower than one year ago.  Across the country, one out of every 1,515 housing units had a foreclosure filing in the first quarter.  The  states with the highest foreclosure rates were Delaware (one in every 761 housing units with a foreclosure filing); Illinois (one in every 857); Nevada (one in every 874); Indiana (one in every 976); and South Carolina (one in every 1,021). “Following…

The U.S. government is reporting that privately‐owned housing starts in March, 2025 were at a seasonally adjusted annual rate of 1,324,000, which is 11.4% higher than February’s revised number and is 1.9% higher than one year ago.  March’s rate for units in buildings with five units or more was 371k.  Privately‐owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1,459,000, which is 1.6% higher than February’s revised number and is 0.2% lower than one year ago.  Authorizations of units in buildings with five units or more were at a rate of 445k…

Using data from the Federal Reserve, today’s graphic from the venerable Visual Capitalist breaks down America’s wealth (total net worth of all U.S. households) by wealth percentile, and lists the number of households in each percentile.  Indeed….  Stay safe and have a Happy Friday!!! Hat tip to the Visual Capitalist.

According to the latest ICE Mortgage Monitor, delinquencies trended higher in February, breaking from typical seasonal patterns. The number of delinquent mortgages has risen by 131K year over year, with FHA mortgages accounting for 90% of that increase.  In addition, their data show Home prices are softening across the country: Annual home price growth slowed to +2.7% in February, with early data for March showing further cooling to +2.2%. “Analysis of ICE HPI data shows a broad-based cooling of home prices, with 90% percent of U.S. markets experiencing slower home price growth compared to three months ago…This trend is being…

We continue to follow the ongoing problem with squatters.  In late March, Los Angeles KCAL TV reported that an RV company was trying to evict a group of squatters that took over a storage lot full of campers in the city of Industry.  A woman who works near the site said squatters started began over the area months ago and have piled up massive amounts of trash & debris. KCA says trespassers are now living in at least 50 campers – worth between $40k – $100k. “We’ve noticed that several of the trailers have been burning,” worker Marilyn Martinez said.…