Interesting Weekly Update 6/28/19

Interesting Weekly Update 6/28/19

Existing Home Sales Up 2.5% in May
The National Association of Realtors are reporting that existing home sales were up 2.5% in May, marking the first time in two months that there was an increase in sales.  The NAR says that all four major U.S. regions saw a sales growth, with the Northeast experiencing the biggest surge. Click here to read more.
Zip Codes with the Most Baby Boomers
Rentcafe reminds us that Baby Boomers certainly don’t fit the mold when it comes to housing preferences because while many are staying put in their houses a growing number have become renters. So where are the most popular places for them to live? Click here to read more.
New York Landlords Gear-Up for Court Battle
Do you remember the story we posted about the twice-married woman in New York City who was “adopted” at age 58 by an elderly man she befriended so she could stay in his rent-controlled apartment?  Well, as Kathy Fettke reports in a recent episode of Real Estate News for Investors, things just got a lot worse in New York. Click here to read more.
Vacation Rental Owners Brace for Travelers Who Were Scammed
If there is a way to cheat short-term rental customers out of their money online you can bet that criminals will find a way to exploit it. A recent story at the Virginia-Pilot (Virginia Beach area) illustrated the growing problem of scammers using sites like Craigslist to surreptitiously list and then rent short-term rental properties that they do not own or control. Click here to read more.
Investor Buys Tax Delinquent Villa That’s Actually a 1-Foot Wide Strip of Land
A Florida investor thought he got a great deal when he was buying a $177k-valued villa for $9,100 at a county property tax auction, but it soon turned into sour grapes. According to the South Florida Sun Sentinel, what he actually purchased was not a villa but a 1-foot by 100-foot strip of land worth about $50. Click here to read more.
Apartment Occupancy at Highest Level in Nearly 20 Years
According to recent data from RealPage.com, strong leasing activity this summer has pushed occupancy levels to their highest level in nearly 20 years.  U.S. apartment occupancy hit 96% in May, up 60 basis points (bps) from April. Click here to read more.
New Single-Family Home Sales Down 7.8%
The U.S. Government is reporting that sales of new single-family houses in May, 2019 were at a seasonally adjusted annual rate of 626k, which is 7.8% lower than April’s revised figure. Click here to read more.
Annual Home Price Gains Continue to Fall
According to the latest S&P CoreLogic Case-Shiller Indices, covering all nine U.S. census divisions, the rate of home price increases reported a 3.5% annual gain in April, down from 3.7% in March. Click here to read more.
Housing Market Vacancy Rates
We recently posted about how strong leasing activity has pushed apartment occupancy levels not seen in nearly 20 years.  Now we have additional data coming from the Mortgage Bankers Association showing that the vacancy rate for single-family owner-occupied homes fell to 1.2% in Q1 – the lowest level since 1995. Click here to read more.
July 4th by the Numbers
Infographic: Next week, on July 4th, America celebrates 243 years of independence! Today’s infographic takes a look at the 4th of July by the numbers to provide a nice little snapshot about this holiday we Americans hold dear. Click here to read more.
Mike Hurney
 

Mike Hurney is the Founder and Director of MassRealEstate.net, an Association of Contractors, Investors and Landlords. He is the Author and Coach of the popular Course "How to Become a Real Estate Investor in 12 Easy Lessons" which Trains and Guides Beginners or Sharpens and Challenges the Skill of Advanced Investors. Mike is a Successful Real Estate Investor, Rehabber and Landlord. He's also a Construction Supervisor. MassRealEstate.net PO Box 307, Marblehead, MA 01945 Office 781-631-8018

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