America’s 10 Hottest ZIP Codes for Homebuyers

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Q2 Apartment Sales Fall Below Pre-Pandemic Levels link

• U.S. apartment investments leveled off in Q2 due to rising debt costs and an uncertain economy, resulting in sales dropping below pre-pandemic figures.

• Sales volume plummeted by 72% year-over-year with approximately 1,260 apartment properties sold, totaling $28.2 billion, as per MSCI Real Capital Analytics.

• In contrast, Q4 of 2021 saw 5,300 properties sold, valued at $165 billion, largely driven by pent-up demand post-pandemic. This recent sales activity is also lower than the $42 billion quarterly average observed from 2015 to 2019.

Fannie Mae Single-Family Mortgage Serious Delinquency Rate Lowest since 2002 link

• Fannie Mae's Single-Family Serious Delinquency rate dropped to 0.54% in July, a slight decrease from 0.55% in June. This rate is notably lower than the 0.76% recorded in July 2022.

• The current rate surpasses the pre-pandemic low of 0.65%, marking the lowest rate since 2002.

• Despite the pandemic's challenges, lending standards have remained robust, and a majority of homeowners have significant equity. This suggests a reduced likelihood of a large wave of single-family foreclosures in this cycle, preventing drastic price drops like those seen after the housing bubble.

Gen Z Is Making Moves in the Housing Market link

• 30% of Gen Z buyers moved directly from their parents' homes to owning their own properties.

• A Rocket Mortgage survey reveals 34% of Gen Z purchased homes to start or expand their families, while 20.8% sought the stability homeownership provides.

• Lending Tree's survey indicates Gen Z prioritizes affordability in housing, often blending city convenience with suburban space and proximity to nature.

Single-family rent increases 3.3% year over year in June: CoreLogic link

• U.S. single-family rents saw a 3.3% growth YoY in June, marking the smallest increase since autumn 2020. Monthly rent growth stood at 1.1%, aligning closely with June's pre-pandemic average of 1%.

• Rent growth for attached properties has surpassed detached ones in 2022 and 2023. In June, attached properties experienced a 4% YoY growth, while detached homes saw a 2.6% increase.

• Regionally, Chicago led with the highest YoY rent increase in June 2023 at 6.6%. Boston and Orlando followed with 5.9% and 5.5% respectively, while Las Vegas witnessed a decline of -1.2%.

Restaurants Have Become Attractive Acquisition Targets  link

Here are some numbers to suggest so:

• Restaurants saw a sales increase of 10.3% in Q2 2023, following a 3.2% rise in Q1.

• The median sale price of restaurants surged by 15.9% from the previous quarter and 6.7% year-over-year.

• Median revenue for sold restaurants grew by 10% quarter-over-quarter and 11.3% from the previous year.

Data Center Supply Isn’t Keeping Up With Demand link

• Rapid adoption of AI technology, especially by tech giants like Nvidia, is driving a surge in demand for data center spaces.

• Major cities face an imbalance in data center supply and demand, leading to space shortages and a 20%-30% increase in rents year over year.