The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

Steve Murray on the importance of protecting property rights

In this episode, Steve Murray, RealTrends advisor and industry stalwart, discusses some of the issues facing private property rights, including how a case in Germany could potentially affect U.S. legislation.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

Real Estate

Single-family rent continues rising

Price of low-end rentals still outpacing higher-end homes

Single-family rent prices increased 3% in November 2019 over the same time period in the previous year, according to CoreLogic’s Single-Family Rent Index,

In October, low-end rent prices went up 3.6%, while high-end price gains rose 2.9%.

(Image courtesy of CoreLogic. Click to enlarge.)

Overall, year-over-year rent price increases have slowed down since February 2016. During this time, they peaked at 4.2%, and stabilized at around 3% since early last year.

November 2019 was the 67th month in a row that low-end rentals propped up national rent growth, the report said.

Low-end rental prices increased 3.6% year over year in November 2019, down slightly from November 2018’s rent gain of 3.8%.

High-end rentals increased 2.7% in November 2019, and the report says this remains unchanged from the previous year.

For the 12th month in a row, Phoenix has the highest year over year increase in single-family rent prices in November, at 6.9%. Neighboring town Tucson had the second-highest rent price growth, with gains of 5.7%.

Miami had the lowest rent increase in November, at 0.7%. Miami had the lowest amount of rent increase in October as well, at 1%, the same amount of increase it saw in September.

For October, Phoenix was the market that saw the highest uptick in rent, with the highest year over year increase in single-family rents at 6.8%, according to CoreLogic.

“Strong rent growth in the Southwest reflects strong population growth in this part of the U.S.,” said Molly Boesel, principal economist at CoreLogic. “Arizona ranked third for population growth in 2019 by both number and percentage increase, according to the U.S. Census Bureau. In contrast, Illinois and Hawaii both had a decrease in population in 2019, which could account for the slower rent growth in these regions.”

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