What Are the Hottest Emerging Markets Right Now?
Real estate investors have a new tool to help them analyze markets — the Wall Street Journal and Realtor.com Emerging Housing Markets Index. The new index uses housing market, economic vitality, and quality of life metrics to identify emerging housing markets — areas that are expected to see home price growth and that offer attractive lifestyle amenities. Read on to see which markets out of the largest 300 metropolitan areas in the United States topped the list in April.
7 Potential Federal Policies — And How They’ll Affect Investors
The new Biden administration brings a wave of policy shifts that will impact property owners, landlords, and investors. From the 1031 exchange to first-time homebuyer tax credits to eviction moratoriums, attorney and real estate investor Scott Smith offers his take on the top seven potential changes real estate investors should know about..
The WFH Exodus Creates an Opportunity for Small Cities
A lot has been said about the great pandemic migration and where all those homebuyers settled. Postal Service data suggests those who picked up stakes during the pandemic typically moved to neighboring, less-dense cities, slightly farther from the downtown core, according to Wired.com. Read on for what’s in store for housing markets on the outskirts of the largest cities.
Work From Home is Here to Stay, and More Inventory on the Way
More than 100 economists and real estate experts weighed in on housing supply and demand in a recent survey conducted by Zillow. Demand is expected to stay strong as Americans continue to re-evaluate their housing needs in light of increased work flexibility. On the supply side, 69% of panelists expect inventory will grow in the second half of the year. An increase in existing homes being listed for sale is expected to be the biggest factor in the reversal.
Pending Home Sales Rebound in March
The National Association of REALTORS® announced pending home sales rose 1.9 % index points to 111.3 in March, after two consecutive months of decline. NAR chief economist Lawrence Yun voiced optimism, stating “Low inventory has been a constant problem, but more inventory will show up as new home construction intensifies in the coming months, as well as from a steady wind-down of the mortgage forbearance program.”
Demand High, Supply Low for Lower-Priced Homes
New houses are still more expensive than existing homes, despite what the data says according to CNBC. The median price of a newly built house was slightly lower in March than the median price of an existing home sold that month. However, that’s due more to low supply of less expensive homes. Real estate investors are poised to bring much needed supply to hungry homebuyers by revitalizing existing entry-level homes and bringing them to market.
