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 rentals are getting more expensive

Price of low-end rental homes skyrocketed more than higher-end homes

Due to low rental home inventory, single-family rental prices continued to rise throughout 2019. And the increases were not limited to one class of property either.

Low-end rent prices went up 3.6%, while high-end price gains rose 2.9%, according to CoreLogic’s Single-Family Rent Index.

“Increases in low-end rent prices have outpaced those on the high end for more than five years as newly-formed households push up demand for entry-level rentals,” said Molly Boesel, principal economist at CoreLogic.

(Image courtesy of CoreLogic. Click to enlarge.)

October saw a national rent increase of 3.1%, compared to the 2.9% increase in October 2018.

According to the report, overall year over year rent price increases have slowed since February 2016, despite a constant climb throughout the decade.

Rent price increases peaked at 4% in February 2016, but stabilized not until early 2019 at around 3%.

October was the 66th consecutive month that low-end rentals saw national rent growth.

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% in October.

Many other markets hovered around 2% on average.

“High-end rents gained momentum for the sixth consecutive month in October 2019, while low-end rates slowed for the first time in roughly five months – resulting in the narrowest gap in rent growth for these price tiers since 2014,” Boesel continued.

Miami had the lowest amount of rent increase, at 1%, the same amount of increase it saw in September.

CoreLogic said that metros with limited new construction, low rental vacancies and a strong local economy attract new employees, leading to stronger rent growth.

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