Michael Klacik's blog

8% Increase in Rental Rates Expected for 2016

For the seventh time in as many years, Rent.com has released their Property Owner and Manager Market Report. The survey reveals current trends and predictions for the future of the U.S. rental market as reported by over 500 rental property managers. In addition to confirming the seemingly universal rent increases which have been seen in the past year, managers are also predicting a further increase of 8% for the coming year!

Average Home Now 48% More Affordable Than in 2006

In recent months, you have probably heard about the ongoing, impressive growth in home prices. While there is no doubt that price growth has been stellar, homes remain far more affordable now than they were during the height of the housing bubble. In fact, the average monthly home payment in the first quarter of this year required 36.5% of the average worker's wages, down over 48% from 2006's 70.7%!

August New Home Sales Best Since 2008

A recent report from the U.S. Census Bureau has revealed some very good news: new home sales continued their upward trend in August, even after an upward revision to the number of home sales recorded in July! Sales of newly-built, single-family homes rose by a seasonally-adjusted annual rate of 552,000 units, representing a 5.7% increase compared to last month. This makes August the best single month for new home sales since February of 2008!