Multifamily saw a stunning reversal in the fourth quarter of 2022 as apartment supply finally surpassed demand, creating a “swift and unprecedented” downturn. A new report from Apartments.com found that multifamily fundamentals declined in Q4, driven largely by limited absorption and supply/demand imbalances. “We ended the year with absorption barely remaining positive and vacancy rates…
Good Morning! Today is Tuesday, March 22. The U.S. is opposing Poland’s idea of sending troops into Ukraine. President Biden warned companies that Russia was considering cyberattacks in retaliation for sanctions. Miami Beach officials issued a curfew after two shootings during spring break. The Mortgage Note Reports Invasion Of Ukraine, Inflation To Take Toll On U.S….
Average monthly asking rent in the U.S. leaped to new heights in February, up 15% year-over-year to a record high of $1,901, though mortgage growth outpaced it yet again, according to Redfin. Rent growth saw its largest annual increase since Redfin began tracking rental data in February 2019. Mortgage payments rose 31% YOY to $1,716,…
Single-family rents rose by 12.6% YOY in January to another record high, with Miami leading U.S. cities in rent growth. CoreLogic’s Single-Family Rent Index (SFRI) found that rent growth exploded in January. The increase is especially shocking compared to January 2021’s mere 3.9% annual increase. “Single-family rent growth extended its record-breaking price growth streak to…
Real estate investors bought 80,293 properties in Q4 2021, a record 18.4% of homes sold. Redfin reported that investor purchases were up from 43.9% YOY, though they fell 9.1% from Q3’s peak, likely due to stock shortages that impacted regular homebuyers and investors alike. Seasonality also contributed to the quarter-to-quarter drop, as the housing market…
Both rent and mortgage payment price growth reached record highs in December, according to a new report from Redfin. Rents jumped to $1,877, 14.1% year-over-year (YOY) and the largest annual jump since at least February 2019, the earliest month in Redfin’s data. The national monthly mortgage payment rose 21.6% YOY, also the largest increase in…
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