2024 Top Military-Friendly Markets, Summary of last weeks housing trends

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Table of Contents

• Weekly Trends View—Data for Week Ending June 15, 2 …

• Most U.S. Apartment Markets Recording Occupancy Im …

• Home Flipping Activity and Profits Both Rise Acros …

• Study: The Health Benefits of Senior Housing Commu …

• Stats on affordability crisis to inform your inves …

• 2024 Top Military-Friendly Markets

• Metro Areas Producing More Housing Than Their Hist …

• This State Just Banned Squatters

• An In-Depth Look at Commercial Real Estate in Flor …

• Best & Worst Places to Raise a Family in 2024

• Ranked: The World’s Top 10 Billionaires in 2024

• $68 Million for Your Very Own Concrete Monolith Li …

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Weekly Trends View—Data for Week Ending June 15, 2024 link

• Mortgage rates have declined for two consecutive weeks, but 87% of existing mortgage debt still has a rate below 6%. This means further rate drops are needed to ease the inventory lock-in effect significantly.

• The median listing price has been flat year-over-year, with a 3.4% increase in price per square foot. Despite higher inventory levels, listing prices are supported by the remaining imbalance from pre-pandemic levels.

• New listings are up 8.0% from last year, yet remain 22% below pre-pandemic levels. Sellers are highly responsive to mortgage rate changes, and more favorable rates could boost listings further in the latter half of the year.

Most U.S. Apartment Markets Recording Occupancy Improvement link

• The national apartment occupancy rate increased by 0.1% in April and May 2024, a positive change from the same period last year when it decreased by 0.02%. This modest growth suggests a resilience in the market despite a high volume of new units being delivered.

• Markets like Memphis, Phoenix, and Nashville showed notable improvements, with Memphis seeing a 0.6% year-over-year increase in occupancy. These cities are seeing demand catching up with supply or stabilizing after previous declines.

• Conversely, Jacksonville and Denver may face challenges with upcoming inventory. Jacksonville’s occupancy fell to 92%, with significant new deliveries expected, and Denver’s occupancy decreased by 0.1%, raising concerns about future supply pressures.

Home Flipping Activity and Profits Both Rise Across U.S. in First Quarter of 2024 link

• Home flipping rates surged to 8.7% of all home sales in Q1 2024, with 67,817 homes flipped, marking the second consecutive quarterly increase. This uptick indicates growing investor confidence despite a recent cooling in the housing market.

• Investors saw a 30.2% gross profit margin nationwide, the highest in over a year, with the median resale price rising to $312,375. However, this margin is still significantly lower than peaks seen in 2016, highlighting ongoing financial challenges for flippers.

• The highest flipping rates were observed in Warner Robins, GA (18.7%), Macon, GA (17.1%), and Fayetteville, NC (15.8%). In contrast, cities like Honolulu, HI (3.7%) and Oxnard, CA (5.3%) had the lowest rates, reflecting regional disparities in flipping activity.

Study: The Health Benefits of Senior Housing Communities link

• Senior housing communities provide decreased vulnerability and more at-home healthcare services for older adults. These factors contribute to slightly increased longevity compared to peers living in the broader community.

• Residents of senior housing experience lower rates of inpatient admissions from emergency departments and for conditions like physical injuries, chronic obstructive pulmonary disease, and dehydration. This suggests a higher quality of preventative and rehabilitative care.

• The study highlights a substantial opportunity for partnerships between senior housing and healthcare providers to improve health outcomes. With an expected rise in older adults moving into these communities, such collaborations could enhance overall wellness and healthy aging.

Stats on affordability crisis to inform your investments.

2024 Top Military-Friendly Markets

Metro Areas Producing More Housing Than Their Historical Average 

This State Just Banned Squatters 

An In-Depth Look at Commercial Real Estate in Florida

Best & Worst Places to Raise a Family in 2024 

Ranked: The World’s Top 10 Billionaires in 2024

$68 Million for Your Very Own Concrete Monolith Link

(Looks like a wanna-be supervillain haven. That kitchen, though 🤯 )

That's all, folks.

Cheers,

Vidit

P.S - Read past newsletters here