Author: Brad Beckett

A recent report from Redfin says the number of renter households rose 2.7% in Q3, year over year, to a record 45.6 million. They say that’s 3x faster than the 0.9% increase in homeowner households, which now total a record 86.9 million.  In addition, they point out that The 2.7% increase (representing 1.18 million additional renter households) was the second fastest pace since 2015.  To get their conclusions, they analyzed U.S. Census Bureau data back to 1994. Some key points: The number of renter households grew 2.7% in the third quarter, the second biggest year-over-year gain since 2015. The number…

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% in October, 2024 (same as September).  The all items index was up 2.6% for the 12 months ending in October.  The index for shelter rose 0.4% in October, accounting for over half of the monthly all items increase. Click here to read the full release at the Bureau of Labor Statistics.

The Visual Capitalist says across the nation wine is often seen as a staple on dining room tables with certain regions raising their glasses a little more often.  In fact, the U.S. is home to several world-renowned wine regions, and even ranked third in Forbes’ list of top 10 countries for wine lovers.  Today’s graphic visualizes America’s wine consumption in gallons by state…..Indeed…Stay safe and have a Happy Friday..Cheers! Hat tip to the Visual Capitalist.

According to the latest CoreLogic Home Price Insights (HPI) report, home prices nationwide, including distressed sales, increased year over year by 3.4% in September 2024 compared with September 2023.  On a month-over-month basis, home prices increased by .02% in September compared with one year ago.  In addition, CoreLogic says home prices will drop by -0.1% from September 2024 to October 2024 and increase by 2.3% on a year-over-year basis from September 2024 to September 2025. “Like much of the housing market at the moment, home prices remained relatively flat coming into the fall. Despite some improved affordability from lower mortgage…

According to ATTOM Data’s Q4 2024 Vacant Property and Zombie Foreclosure Report, there were nearly 1.4 million residential properties in the U.S. sitting vacant in Q4. That figure represents 1.3%, or one in 77 homes, across the nation – roughly the same as in the 3rd quarter.  ATTOM also says there were 215,601 residential properties in the process of foreclosure in Q4 2024, down 3.3% from the third quarter and down 32.8% from the 4th quarter of 2023.   In addition, they report that there were around 7,100 zombie foreclosures (pre-foreclosure properties abandoned by owners) in Q4.  That figure is down…

In a recent episode of the Idaho Real Estate Investor Show, Paul & Tanice Myers  share their stories and insights on transitioning from W2 jobs, the importance of leads, education, and funding in real estate, and their experiences in the Boise and Coeur d’Alene markets. This is a wisdom-packed interview! Click here to listen.

The pest control & rodent removers over at Orkin say for the 10th year in a row Chicago continues in its first-place spot on their Top 50 Rattiest Cities List, with Los Angeles and New York occupying the number 2 & 3 positions.  Orkin says cities on their Rattiest Cities list are based on the number of new rodent services highlighting demand and efforts that residents & businesses have taken to treat rodent issues. “Rodents can cause a lot of structural problems for property owners…They can get in around piping and even chew through walls. These tiny culprits tend to…

National REIA Chapter Boston REIA is reporting that a new law was recently signed by Massachusetts Governor Healey with the stated aim of protecting tenants from the negative impact of eviction records. This law, part of the Affordable Homes Act, allows tenants to seal certain eviction records from public view and prevents these records from appearing on credit reports. It will come into effect on May 5, 2025. Boston REIA says that the new law won’t take effect until May 2025, giving the courts and credit reporting agencies time to adjust. Landlords and rental agents will also need to update…

The U.S. government is reporting that total construction spending in September, 2024 was at a seasonally adjusted annual rate of $2,148.8 billion, which is 0.1% higher than August’s revised number.  However, September’s revised estimate is 4.1% higher than one year ago.  Residential construction came in at a seasonally adjusted annual rate of $913.6 billion in September, which is 1.3% higher than August’s revised estimate. Click here to read the full report at the U.S. Census Bureau.

According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), home prices were up 0.3% in August, and up 4.2% from August 2023 to August 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. “House price appreciation in the United States remained modest for the sixth consecutive month…The slow but continued house price growth and the effect of locked-in interest rates led to persistent housing…