Author: Brad Beckett

A recent report from LendingTree says 32% of young adults moved back home during the pandemic – two-thirds of which are still there.  Slightly more than half (51%) of those who moved home said it was out of necessity.  Indeed… “The pandemic turned back time for many empty nesters, as their homes were suddenly filled with the pitter-patter of their young adult children’s feet returning to the relative safety and financial security of their parents’ homes. But in the two-plus years since the pandemic’s onset, only a third of those who returned home during the pandemic have spread their wings…

According to the latest Yardi Matrix Multifamily Report, the average U.S. multifamily rents dropped $1 to $1,718 in August, marking the first month-over month decline since June 2020.  Yardi says multifamily rents finally hit a wall in August, presaging a deceleration that may extend through the second half of 2022.  Indeed… “Despite the flattening rent growth, much about the market remains positive. Year-to-date rent growth is still higher than any previous year aside from 2021, and occupancy rates have been above 96% for the past 14 months.” Click here to read the full report at Yardi.

According to the latest CoreLogic Home Price Insights (HPI) report, home prices nationwide, including distressed sales, increased 15.8% year-over-year in July.  However, on a month-over-month basis, home prices decreased by 0.3% in July compared with June.  CoreLogic’s HPI Forecast predicts home prices will increase on a year-over-year basis by 3.8% from July 2022 to July 2023. “Following June’s surge in mortgage rates and the resulting dampening effect on housing demand, price growth is taking a decisive turn. And even though annual price growth remains in double digits, the month-over-month decline suggests further deceleration on the horizon. The higher cost of…

Yes, believe it or not, the Autumnal Equinox will soon be upon us….that’s right, the first day of Fall is September 22nd.  That means it’s time to start thinking about lawn-care for the upcoming cooler months and prepping for next Spring. Today’s infographic from The Home Depot lays out exactly what needs to be done to prepare your yard for the winter months ahead so it’s in tip-top shape for the Spring.  As always, stay safe and have a Happy Friday!!!! Hat tip to The Home Depot.

A recent report from Breitbart says recent record rents are coinciding with skyrocketing immigration – especially in the nation’s largest urban cores.  Citing recent data from Zumper, rents across the United States have hit a record high, with the median rent for a one-bedroom apartment reaching nearly $1,500 a month.  They point out that cities inundated with mass immigration (New York City, San Francisco, Miami, Los Angeles, and Washington, D.C.) have the highest rents as thousands of new arrivals push up the cost of housing, which the author says is a boon for real estate investors and a detriment for…

A recent report from the NAHB’s Eye on Housing says private fixed investment in student dormitories declined 4.4% to a seasonally adjusted annual rate (SAAR) of $3.2 billion in Q2, 2021.  However they do point out that Student housing investment is on the road to a limited recovery, as the economy reopens and pent-up demand is realized.  The cited data is from a recent Bureau of Economic Analysis. “Private fixed investment in student housing experienced a surge after the Great Recession, as college enrollment increased from 17.2 million in 2006 to reach 20.4 million in 2011. However, during the pandemic,…

On a recent episode of Real Estate Underground (by Connecticut REIA), hosts Ed Matthews & Rich Brown talks with Deirdre Virvo who is passionate about providing a better option for seniors living in her Fairfield County (CT) community. She provides a premiere boutique one-level Dementia specific, purpose-built residential senior care. Click here to listen at Real Estate Underground.

According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), U.S. house prices rose 0.1% in June and were up 17.7% from Q2, 2021. The FHFA produces the nation’s only public, freely available house price indexes (HPIs) that measure changes in single-family house prices based on data that cover all 50 states and over 400 American cities and extend back to the mid-1970s. “Housing prices grew quickly through most of the second quarter of 2022, but a deceleration has appeared in the June monthly data…he pace of growth has subsided recently, which is consistent with other recent…

The U.S. Department of Housing and Urban Development announced their new FY 2023 Fair Market Rates (FMR’s) which are used to determine payment standards for many housing assistance programs, including Housing Choice Vouchers (HCV) and Project-Based Section 8 programs.  Published annually, the FMR’s are an estimate of the amount of money that would cover gross rents (rent and utility expenses) on 40 percent of the rental housing units in an area.  HUD’s notice indicates that the 2923 FMRs will take effect on October 1, 2022. “…The new FMR levels announced today will enable the voucher program to keep up with…

The U.S. government is reporting that total construction spending in July, 2022 was at a seasonally adjusted annual rate of $1,777.3 billion, which is 0.4% lower than June’s revised estimate but is 8.5% higher than one year ago.  Residential construction came in at a seasonally adjusted annual rate of $920.4 billion in July, which is 1.5% lower than June’s revised estimate. Click here to read the full report at the U.S. Census Bureau.