The National Association of Realtors is reporting that existing home sales were down 5.4% in June to a seasonally-adjusted annual rate of 5.12 million (down 14.2% year over year). Click here to read more.
Housing Starts Drop to Lowest in 9 Months
The U.S. government is reporting that privately‐owned housing starts in June were at a seasonally adjusted annual rate of 1,559,000, which is 2% lower than May’s revised number and 6.3% lower than one year ago. Click here to read more.
Mortgage Demand Hits a 22-Year Low
CNBC’s Diana Olick says mortgage demand recently hit a 22-year low as buyers worry about higher interest rates and inflation. She says “pain in the mortgage market” is only getting worse. Click here to read moree.
Foreclosure Starts up 219% from Last Year
According to ATTOM Data’s Midyear 2022 U.S. Foreclosure Market Report, there were a total of 164,581 U.S. properties with foreclosure filings in the first six months of 2022. This figure is up 153% from the same time period a year ago but down just 1% from the same time period two years ago. Click here to read more.
Back to School Sales Tax Holidays 2022
This weekend several states across the fruited-plain will be kicking off sales tax holidays for the back-to-school season. Whether you think this is good or bad public policy is irrelevant; the bottom-line is saving your hard-earned money! Click here to read more.
FHFA Launches a Office of Financial Technology for Fintech
The Federal Housing Finance Agency (FHFA) recently announced the establishment of an Office of Financial Technology. According to an agency release, the new department will serve as a centralized source of information to support FHFA in addressing emerging risks and advancing agency priorities related to the adoption and deployment of financial technology (fintech). Click here to read more.
Steer Clear of Your Next Eviction
On a recent episode of the AZREI Show, Marcus Maloney & Michael Del Prete spoke with Rent Perfect’s David Pickron about their mobile platform that allows landlords to easily take a tenant from the application, to lease, to online payments, saving the landlord time and money in the process. Click here to read more.
How Long Does it Take to Build a Single-Family Home?
So, how long does it take to build a single-family house? The NAHB’s Eye on Housing recently sifted through data from the Census Bureau’s The 2021 Survey of Construction (SOC) to find out. Click here to read more. Click here to read more.
Fuel Up on the Facts
Infographic: The American Petroleum Institute reminds us that fuel prices are determined by the market forces of supply & demand, not individual companies, and the price of crude oil is the primary determinant of the price we pay at the pump. Click here to read more.
Inflation Hits Food Staples the Hardest
Infographic: With U.S. inflation hitting a high not seen since the Carter-years, the folks over at Statista did a deep-dive into the recent numbers to illustrate how food staples are being hit the hardest. They point out that over the past year, the price of eggs rose by a third and butter, flour, chicken and milk also showed some of the next-biggest price increases. Click here to read more.
Have you made a positive difference to our communities and society at large?
National REIA is proud of our association’s and their member’s contributions to their communities. We promote a spirit of “giving back” throughout our industry. Real Estate Investing has enhanced our lives and given us success so our mission to positively impact our communities is at the core of what we do.
If you have a great story of how you have made an impact in your community or you have a member that has done amazing work to contribute, please take a moment to submit the story to Caleb@nationalreia.org for inclusion in our publications, social media, and our website. We are excited to hear how our industry and those of us in it have made a positive difference to our communities and society at large!
Stay up to date:
To learn more about these and other important issues affecting the real estate investing industry, visit RealEstateInvestingToday.com and follow on Twitter @REI2Day.