Local Market Monitor’s National Economic Outlook for March ’24
Real Estate Investing Today
by Brad Beckett
4h ago
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. National Economic Outlook By Ingo WInzer March, 2024 Newly available data from the fourth quarter of 2023 don’t make the home price situation any clearer. On average, home prices increased about 5 percent in the past year, pretty much as they had in the previous two quarters. This means that the surge of the last few years is over but provides little guidance about when and what kind of price readjus ..read more
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TikToker Tells Illegal Immigrants How to Invade American Homes & Invoke Squatter’s Rights
Real Estate Investing Today
by Brad Beckett
23h ago
We have been following the growing problem of squatters and how it is adversely affecting residential communities across the nation.  Now comes one we can hardly believe and really takes the cake;  A recent storyy in the New York Post says migrant TikToker with a 500k-strong online social media following is offering his fellow migrants tips on how to “invade” unoccupied homes in America and invoke squatter’s rights.  Yeah, you read that right. According to the NY Post, the Venezuelan national Leonel Moreno appears to live in a suburb of Columbus, Ohio, and said in a recent video ..read more
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More Inflation Concerns, Big Changes for Home Sales and Single Family Construction Hot Spots
Real Estate Investing Today
by Brad Beckett
23h ago
On a recent episode of Real Estate News for Investors, Kathy Fettke discusses what the latest inflation reports are telling us, why home sellers might be jumping for joy, and where we’ll be seeing the most single-family construction.  Take a listen…. Click here to listen on Spotify.com.   The post More Inflation Concerns, Big Changes for Home Sales and Single Family Construction Hot Spots appeared first on Real Estate Investing Today ..read more
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Home Builder Confidence Highest Since July
Real Estate Investing Today
by Brad Beckett
2d ago
According to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), builder confidence in the market for newly built single-family homes climbed three points to 51 in March – the highest level since July 2023 and the fourth consecutive monthly gain for the index. A score of 50 is considered the breakeven point. The NAHB says that a lack of existing inventory continues to drive buyers to new home construction, coupled with strong demand and mortgage rates below last fall’s cycle peak helped push builder sentiment above a key marker in March. “Buyer dema ..read more
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CoreLogic Says Rent Growth Slowed in January
Real Estate Investing Today
by Brad Beckett
2d ago
According to the latest CoreLogic Single-Family Rent Index (SFRI), U.S. single-family home rental prices rose by 2.6% year over year in January 2024.  CoreLogic says rent growth slowed in January on both a monthly and yearly basis and has not been in double digits since the fall of 2022. However, they do point out that overall growth since February 2020 is about 28%, reflecting continued demand for rental properties.  Indeed… “While annual U.S. single-family rent growth was a moderate 2.6% in January, that increase built on years of above-trend annual gains…Furthermore, while rent g ..read more
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Existing Home Sales See Largest Monthly Increase in a Year
Real Estate Investing Today
by Brad Beckett
3d ago
The National Association of Realtors is reporting that existing home sales were up 9.5% in February to a seasonally-adjusted annual rate of 4.38 million – the largest monthly increase since February 2023. However, they were down 3.3% year over year.  Total housing inventory at the end of February was 1.07 million units, up 5.9% from January and up 10.3% from one year ago.  Unsold inventory sits at a 2.9-month supply at the current sales rate with properties remaining on the market for around 38 days.  The median existing-home price for all housing types in February was $384,500 ..read more
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Housing Starts Up 10.7% in February
Real Estate Investing Today
by Brad Beckett
3d ago
The U.S. government is reporting that privately‐owned housing starts in February were at a seasonally adjusted annual rate of 1,521,000, which is 10.7% higher than January’s revised number and is 5.9% higher than one year ago.  February’s rate for units in buildings with five units or more was 377k.  Privately‐owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,518,000, which is 1.9% higher than January’s revised number and is 2.4% higher than one year ago.  Authorizations of units in buildings with five units or more wer ..read more
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Average Down Payment for a House by State
Real Estate Investing Today
by Brad Beckett
6d ago
The Visual Capitalist says housing costs vary across U.S. states, as well as the income required to buy a house, and the down payment associated with the purchase.  Today’s graphic (using data from Bankrate.com) illustrates the average down payment for buying a house, by U.S. state.  As always, stay safe and have a Happy Friday!!! Hat tip to the Visual Capitalist.   The post Average Down Payment for a House by State appeared first on Real Estate Investing Today ..read more
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10 Cities and States that will Pay You to Move There
Real Estate Investing Today
by Brad Beckett
1w ago
Redfin says that in an era where remote work is an option for many people and geographical boundaries are becoming less of a barrier, many places are seizing the opportunity to attract new residents through innovative incentives.  To that end, they’ve put together their list of the top 10 cities & states that will pay someone to move there.   Now, that being said, the devil is always in the details but it’s still an interesting way to capture someone’s attention (via dangling incentives in front of them) who may be open to a whole new location to live & work.   ..read more
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Best Counties For Buying Single-Family Rentals In 2024
Real Estate Investing Today
by Brad Beckett
1w ago
ATTOM Data recently released their Q1 2024 Single-Family Rental Market report, which ranks the best U.S. markets for buying single-family rental properties in 2024.  Among the findings;  The report says the average annual gross rental yield on three-bedroom properties, (annualized gross rent income divided by purchase price) among the counties analyzed is projected to be 7.55% in 2024. That is up slightly from an average of 7.39% in those same markets in 2023 and marked the second year of rising projections after three years of declines.  To get their data, ATTOM analyzed single ..read more
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