Archive for the Real Estate Category

Rent Growth Highest in 10 Months

mini houses on stacks of coins

Still think it’s cheaper to rent? According to recently released data from real estate analytics and listing firm, Zillow, rental prices in February accelerated at the fastest rate in 10 months. The company’s Real Estate Market Report found that February’s rent prices increased 2.4% compared to the same month last year. This significant gain caused the U.S. median rent price to $1,472. The median rent price in February 2018 was $1,438. Although the difference only amounts to an additional $34, this translates to more than $400/year in additional costs for the average renter. Zillow’s report revealed another interesting fact. Of

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Housing Starts Drop in December, Post Yearly Gain

house on chart showing decrease in statistics

The market for newly built homes is heating up. Despite posting an 11.2 percent decline in December, housing starts were up for both single-family and multifamily homes, according to data from the National Association of Home Builders (NAHB), the U.S. Department of Housing and Urban Development (HUD) and the Commerce Department. December’s housing starts dropped significantly compared to the month prior, hitting a seasonally adjusted annual rate of 1.08 million units. According to the report from the multiple agencies, which was delayed due to the partial government shutdown, multifamily starts fell 20.4 percent to a seasonally adjusted annual rate of

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Pending Home Sales Rise in January

house on chart showing decrease in statistics

The number of existing homes in the U.S. that went under contract in January increased from the previous month, signaling a positive outlook for the start of the 2019 housing market. According to data from the National Association of Realtors (NAR), pending home sales–a gauge of purchases before they close–rose 4.6% to a seasonally adjusted reading of 103.2 in January. This is a much more significant gain than economists from the Wall Street Journal anticipated, according to Realtor.com. Those economists predicted a 0.8% increase in January.

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