High mortgage rates are a contributing factor to the weakening of builder confidence. The NAHB has reported that builder confidence in the market for newly built single-family homes has dropped below the key break-even measure of 50 for the first time in five months due to persistently high mortgage rates. According to the National Association […]
Builder confidence is undermined by high mortgage rates. Read More »
In a recent episode of the AZREIA Show, Marcus Maloney and Michael Del Prete discuss architectural design and the growing popularity of additional dwelling units (ADUs) in Phoenix. They also explore how ADUs can boost cash flow for investors. The conversation emphasizes the importance of architectural design and the impact of renowned architects on real
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A recent report from Redfin reveals that investor home purchases in Q2 2023 experienced a significant decline of 45% compared to the previous year, marking the largest drop since 2008. This decline in investor purchases surpassed the overall decline in home sales, which stood at 31%. The report also highlights that investor market share has
Recently, there has been a slowdown in HELOC activity after reaching a 15-year high in 2022. The Mortgage Bankers Association has provided data on how HELOCs have been utilized over the years. Home renovation and remodeling remain the primary reasons for utilizing HELOCs, followed by debt consolidation, emergencies, and other big-ticket financing. The MBA’s 2023
What are the ways homeowners are utilizing their HELOCs? Read More »
According to a graphic from Statista, Hawaii has the highest density of Airbnb rentals out of all U.S. cities and regions analyzed by InsideAirbnb in June 2023. With 32,597 Airbnb listings for an estimated 1.4 million inhabitants, it surpasses other cities in terms of Airbnb density. You can view the graphic here. Stay safe and
Top American Cities with the Highest Airbnb Concentrations Read More »
Total nonfarm payroll employment increased by 187k, in August 2023, with the unemployment rate rising to 3.8%.
rewrite the content without plagiarism for 1500 words Recent analysis from the NAHB’s Eye on Housing shows that for new single family homes, the median single-family square floor area declined to 2,191 square feet, the lowest reading since the end of 2010. In addition, the average (mean) square footage for new single-family homes fell to
rewrite the content without plagiarism for 1500 words Rental information site Zumper recently released their latest monthly National Rent Report for August, 2023. According to their data, rent for 1-bedroom apartments was $1,510 (up 1.6% year over year) and the median two-bedroom rent was $1,864 (up 3.9% year over year) . Be sure to check
rewrite the content without plagiarism for 1500 words The latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 0% annual change for June, 2023. Their 10-City Composite decreased 0.5% and their 20-City Composite decreased 1.2%, year-over-year. However, all 20 major metro markets reported month-over-month price increases for the fourth straight month “As
According to Black Knight’s latest Mortgage Monitor, the total U.S. loan delinquency rate (loans 30 days+ past due but not in foreclosure) was 3.12% in June, up 0.55% from May and down 2.80% year over year. In addition, the number of serious delinquencies (loans 90+ days past due) dropped to 471K – the lowest since
Seriously Delinquencies Hit Lowest Level Since 2006 Read More »