Real Estate, Economy & Market News
MARKET INDICATORS SNAPSHOT
WEEKLY
- Mortgage Rate (30-Year Fixed): 3.22% (as of 1/6)
MONTHLY
- Existing Home Sales: +1.9% (November 2021)
- New Residential Sales: +12.4% (November 2021)
- Median Sales Price for New Houses Sold: $416,900 (November 2021)
- Construction Spending: +0.2% (October 2021)
- New Residential Construction: 3.6% (November 2021)
QUARTERLY
- Homeownership Rate: +65.4% (3Q21)
- Rental Vacancy Rate: +6.4% (4Q21)
Sources: NAR, BLS, Federal Reserve Bank
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COMMERCIAL REAL ESTATE
- 69% of CRE brokers earned more in 2021
Results also indicate that 66% of brokers have completed more transactions in 2021 than in 2020.
- US rent hikes: not a concern for most tenants
It’s good news for tenants who already signed a lease or never left in the first place.
- Real estate market predicted to remain strong
People are still wanting to buy, especially in suburbs, according to an analyst.
RENT & MULTIFAMILY HOUSING
- 12% of First-Time Homebuyers Used Crypto
It is up from 8.8% the preceding quarter.
- Build-to-rent investments to grow over the next decade
Own-to-rent conversions of SFRs will remain solid in the next ten years.
- Multifamily outperformers in 2022
Freddie Mac indicates that secondary and tertiary markets in the American West and Florida will be the best cities for potential annualized growth in multifamily investment gross income.
ECONOMY & JOB MARKET
- Household income can’t keep pace with cost of living
The average US household debt is now at $155,622
- Mortgage delinquency rate falls to pre-pandemic levels
This indicates improving economic security and the benefits of disciplined underwriting practices over the past decade
- Small business boom a result of the pandemic
Almost 5 million new business applications were recorded from January to November of last year.
- Economist: Full return to office is next to impossible
A full return to office plan isn’t going to happen anymore given the current conditions in the economy according to a Stanford University professor.
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