The Key to Reducing Post-Refi Boom Borrower Churn

In this webinar, PRMG Chief Lending Officer Kevin Peranio will help attendees sort through the right technologies as he shares the tech investments that have had the biggest impact on his business.

Tracey Velt breaks down the latest RealTrends 500 rankings

During the episode, Velt highlights which brokerages achieved top rankings in both categories for 2020, and shares what stood out to her the most about the rankings.

Navigating Closing Struggles in 2021’s Purchase Market

Join this webinar to discover the most current information on hybrid and full eNote eClosings and discuss key criteria to successfully implementing your eClosing strategy.

About 7M refi candidates missed the “forever rate” boat

Rates jumped to 3.17% last week and Black Knight reported that there are now just 11.1 million “high quality” refi candidates. The smallest number of potential refi candidates in a year.

Real Estate

Zumper: Rental prices in the nation’s top housing markets rise in January

San Francisco is now home to the nation's highest rent prices

In January, the rental prices for a one-bedroom and two-bedroom unit decreased from the previous month, falling by 0.4% and 0.3%, respectively, according to Zumper’s National Rent Report.

It now costs the average renter a median of $1,217 and $1,460 to rent the average one-bedroom and two-bedroom units. This equates to an annual decrease of 0.3% and an annual increase of 0.6%, respectively.

“In the first National Rent Report for the year, the top 10 markets saw relatively flat monthly changes but year over year changes were much larger in some cities,” Zumper writes. “Notable markets with large year over year changes included New York, with one- and two-bedroom rents both up around 9%, Washington D.C., with one bedroom rent up 7.6% and two-bedroom rent up 15.2%, and San Diego, with one bedroom rent down over 8%.”

Zumper notes that the nation’s top three rental markets San Francisco, New York and Boston, all experienced notable increases in rental prices from the previous month.

In San Francisco, renters saw their one-bedroom rental prices rise by 0.3% to $3,500, slightly increasing from the previous month’s record, while two-bedroom units held steady at $4,500.

New York renters also experienced an increase in their rent, as prices for one-bedrooms grew by 1% to $3,000. Meanwhile, two bedrooms fell to $3,390.

Rent in Boston climbed by 3.6% to $2,590 for one-bedrooms, while prices for two-bedroom units declined by 0.7% to $2,930.

According to Zumper, Des Moines, Iowa had the fastest growth rate for one-bedroom units as rent increased by 4.9% to $860, moving the city up to the 70th priciest rental market in the nation.

On the other end of the spectrum, Zumper says one-bedroom units in Laredo, Texas had the largest monthly decline rate, as prices fell by 5.3% to $710. On an annual basis, rent prices for one-bedroom units are down 14.5% in the city.

The chart below displays the 25 most expensive rental markets and how they moved in September, according to Zumper.

 NOTE: The Zumper National Rent Report analyzes rental data from over 1 million active listings across the country. Data is aggregated on a monthly basis to calculate median asking rents for the top 100 metro areas by population.

Most Popular Articles

Millions will enter housing market in 2021: Zillow

Up to 2.5 million households could enter the housing market in 2021, per Zillow. The buyers will descend on the “secondary cities” across the U.S.

Apr 07, 2021 By

Latest Articles

William Raveis ain’t no stinkin’ iBuyer

Like others, resi brokerage & lender William Raveis is happy to buy your home. But its new program doesn’t mean it’s an iBuyer.

Apr 09, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please