Weekly Updates 1/8 & 1/15/21
*** Weekly Update 1/15/21
NMHC Says 76.6% of Apartment Households Paid Rent by January 6th
The National Multifamily Housing Council (NMHC) says that 76.6% of apartment households made a full or partial rent payment by January 6th, 2021. Click here to read more.
Owning More Affordable Than Renting in Almost Two Thirds of Housing Markets
Owning a home is more affordable than renting in nearly 2/3 of America’s housing markets, according to ATTOM Data’s 2021 Rental Affordability Report. Click here to read more.
Americans Are Moving West and South
In their 44th annual National Movers study, United Van Lines says Americans are moving west and south – with the Coronavirus pandemic further accelerating those moves. According to the report, Idaho had highest percentage of inbound migration with New Jersey experiencing the largest percentage of outbound moves. Click here to read more.
America’s 2020 Rental Market in Review
Rentable (formerly known as ABODO) says most Americans will be happy to have 2020 behind them – especially after dealing with the Coronavirus pandemic for most of the year. Their recent 2020 Rental Market Review says that nationally, rents, on average, went up however some larger metro areas saw steady declines. Click here to read more.
Rental Home Construction Climbs as Purchase Prices Surge
According to recent analysis from the Wall Street Journal there hasn’t been this many single-family homes under construction in the U.S. since 2007. However, as they point out, many of these new homes won’t be up for sale but are being built solely for rent. Click here to read more.
Inventory Sinks as New Home Prices See Continued Growth
On a recent episode of Real Estate News for Investors, Kathy Fettke discusses how inventory has hit a new low while home prices are continuing to rise as well as other recent news affecting the real estate market. Click here to read more.
The Number of “Million-Dollar Cities” spiked sharply in 2020
Zillow says that the typical home value in the U.S. is about $263k, however the number of “million-dollar cities” spiked sharply in 2020. According to their analysis, million-dollar cities are those with a typical home value of at least $1 million. Click here to read more.
Comparison of Unemployment During the Pandemic
A recent “chart of the week” from the Mortgage Bankers Association highlights the various metrics around extended unemployment during the (still) ongoing Coronavirus pandemic. Click here to read more.
Majority of Americans Get their News from Digital Sources
Infographic: We love news…especially news about real estate investing. And, why not. This is the news site for National REIA and we want our members to be both successful and well-informed! With that in mind today’s infographic from Statista reveals just how Americans by generation consume the news. Click here to read more.
*** Weekly Update 1/8/21
Construction Spending Up Slightly
The U.S. government is reporting that total construction spending in November was at a seasonally adjusted annual rate of $1,459.4 billion, which is 0.9% above than October’s revised estimate. Click here to read more.
Pending Home Sales Down 2.6%
The National Association of Realtors is reporting that pending home sales declined 2.6% in November, 2020. Click here to read more.
Zumper’s National Rent Report for January
Rental information site Zumper recently released their National Rent Report for January, 2021 showing that their median national rent for 1-bedroom apartment was $1,224 (same as December) and the median two-bedroom rent was $1,491 (up 0.3%). Click here to read more.
Pandemic Causing Families to Shun Nursing Homes
A recent report in the Wall Street Journal says Covid-19 is spurring families to shun nursing homes, which they say could be a long-lasting market shift. Click here to read more.
The Power of Clearly Set Goals in Real Estate
Goal setting is integral to success in any field of endeavor, but particularly in Real Estate Investing. While differing strategies can certainly pay off very quickly, the greatest benefits come to those who buy property and hold on to it for a long, long time. Click here to read more.
NY City Landlord Facing his Own Eviction as Tenants Refuse to Pay
The New York Post is reporting that a New York City landlord is himself facing eviction after some “deadbeat” tenants are refusing to pay rent. Click here to read more.
Consumer Confidence Falls to 4-month Low
According to the Conference Board’s latest Consumer Confidence Survey, consumer confidence fell to a 4-month low in December, after falling for two consecutive months. Click here to read more.
Blockchain in Real Estate…What’s Next?
We have had several posts about the emerging blockchain technology, but it’s been a while. A recent article in Commercial Property Executive takes a look at the “Why, How, What” of this emerging technology. Click here to read more.
America’s Population by Race
Infographic: One of America’s great strengths lies in the diversity of her people. In fact, it is reflected in our country’s Latin motto, “E pluribus unum” – which means “out of many, one. Click here to read more.