Rent prices are climbing faster than asking prices and are rising in metros where asking prices are falling, according to a report from Trulia. Year-over-year, nationwide rent prices were up 5.1% in October, while asking prices were up 2.9% during the same period when including foreclosures. Out of the top 25 rental markets in the…
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Demand Rises as Inventory Falls in Single-Family Rental Market
Demand in the single-family rental market continues to expand even as inventory tightens, according to the latest MarketPulse report from CoreLogic. Comparing lease rates, supply, pricing, and the ratio between bid prices and asking prices clearly demonstrates an increasingly tightening market. “[S]ome of the new demand is being driven by former homeowners who have experienced…
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Homeownership Rate Stays Near Historic Lows
The number of households owning homes reached 75,076,000 in the third quarter, increasing from 74,832,000 in the second, but down from 75,251,000 a year ago, the Census Bureau reported Tuesday. At the same time, the nation’s homeownership rate (seasonally adjusted) remained at 65.5%. The homeownership rate stayed near historic lows. The rate in the first…
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Check Out Our Upcoming Series on Income Producing Properties!
We are very pleased to introduce our upcoming series on income producing properties both single and multi-family in the Greater Seattle area. This will be a four part series focusing on the positives and negatives of investing in the rental market in the current economic conditions. The series topics will be as follows: Homeownership Rate…
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September Foreclosure Starts Reach 2007 Levels
In September, the nation’s delinquency rate suddenly spiked 7.7% from August, according to data from Lender Processing Services (LPS). The data provider explained the surge in its recent Mortgage Monitor report for September. For one, first time delinquencies increased by about 200,000 from the month before as more borrowers rolled into 30-day delinquency status. Re-default…
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Completed Foreclosures Down 31% from Year Ago but Remain High
Completed foreclosures continued their descent into September, falling 31% from a year ago, according to data from CoreLogic. The analytics company reported the number of homes lost to foreclosure in September dropped to 57,000. The decline is a steep drop from 83,000 in September 2011, and a decrease from the upwardly revised 59,000 in August.…
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