Phoenix makes the Charts

The article, Rising Rents Hit 47-Month High, June Occupancy Matches Record, fromwww.realestateeconomywatch.com, reports that the rental market set new records in June as the national annual effective rent growth rate reached  5.1%, a 47-month high for the national apartment market and continued a streak of 5.0%-plus rent growth that is the longest in at least six years, according to Axiometrics. Though effective rent growth was also 5.1% in April and February, the June rate was the highest when extended to two decimal points (5.11%), and is the highest rate since the 5.3% of July 2011. Effective rent growth has reached at least 5.0% for five straight months, the longest such streak since Axiometrics started monthly reporting of annual apartment data in April 2009. “Rent growth is just shy of the post-recession peak, and the June metrics reflect the continued strength of the apartment market,” said Stephanie McCleskey, Axiometrics vice president of research. “The demand for apartments is still strong, despite the record number of new units being delivered this year.”

		Annual Effective Rent Growth		Occupancy Rate			Revenue Growth
Rank	MSA	14-Jun	15-Jun		14-Jun	15-Jun	14-Jun	15-Jun
1	Oakland, CA	9.6%	14.4%		96.8%	96.5%	9.9%	14.1%
2	Portland, OR	6.0%	13.6%		96.2%	97.1%	6.0%	14.6%
3	Denver, CO	8.6%	10.9%		96.1%	95.9%	9.0%	10.7%
4	San Jose, CA	9.1%	10.4%		97.0%	97.0%	9.3%	10.4%
5	Sacramento, CA	8.3%	9.8%		96.2%	95.9%	10.3%	9.4%
6	San Francisco, CA	6.7%	9.1%		96.5%	96.3%	7.4%	9.0%
7	Riverside, CA	4.3%	7.6%		95.2%	95.7%	4.9%	8.1%
8	Seattle, WA	7.0%	7.5%		96.6%	96.2%	7.3%	7.2%
9	Atlanta, GA	7.3%	7.3%		94.2%	94.8%	7.9%	7.9%
10	Phoenix, AZ	4.5%	7.1%		93.5%	94.5%	5.0%	8.0%
11	Nashville, TN	5.6%	6.8%		96.0%	96.0%	5.8%	6.7%
12	Las Vegas, NV	3.2%	6.7%		93.4%	94.5%	4.4%	7.8%
13	Dallas, TX	4.0%	6.4%		95.0%	95.6%	4.0%	7.0%
14	Orlando, FL	4.5%	6.3%		95.1%	95.7%	4.9%	6.9%
15	Fort Worth, TX	4.5%	6.2%		95.1%	95.9%	4.8%	7.0%
16	Fort Lauderdale, FL	5.0%	6.2%		95.7%	95.8%	5.6%	6.3%
17	Los Angeles, CA	4.3%	6.2%		95.8%	95.9%	5.1%	6.3%
	National	3.7%	5.1%		95.1%	95.4%	4.0%	5.4%

Here is the link to the entire article: http://www.realestateeconomywatch.com/2015/07/rising-rents-hit-47-month-high-june-occupancy-matches-record/

More Buyers Take Advantage of FHA Loans

DAILY REAL ESTATE NEWS |

Sales to buyers using Federal Housing Administration loans rose to a two-year high in the second quarter, according to RealtyTrac's June and Midyear 2015 U.S. Home Sales Report.

Buyers using FHA loans — which are typically low down payment loans that are used by first time home buyers -- made up 23 percent of all single family home and condo sales with financing in the second quarter of 2015. That's up from 19 percent in the second quarter of 2014 and the highest share since the first quarter of 2013.

"As the investor-driven housing recovery faded in the first half of 2015, first-time home buyers, boomerang buyers and other traditional owner-occupant buyers started to step into the gap and pick up the slack," says Daren Blomquist, vice president at RealtyTrac. "This is good news for sellers in many markets, providing them with strong demand from a larger pool of buyers, and U.S. sellers so far in 2015 are realizing the biggest gains in home price appreciation since 2007."

The following markets, with a population of 1 million or more, had the highest share of buyers using FHA loans in the first six months of 2015:

·         Riverside-San Bernardino-Ontario in inland Southern California: 35%

·         Las Vegas: 32%

·         Oklahoma City: 31%

·         Salt Lake City: 30%

·         Phoenix: 29%

On the other hand, these major markets had the lowest share of buyers using FHA loans in the first six months of 2015:

·         San Jose, Calif.: 7%

·         Hartford, Conn.: 10%

·         San Francisco: 12%

·         Boston: 12%

·         Milwaukee: 13%

Source: RealtyTrac / http://realtormag.realtor.org/daily-news/2015/07/23/more-buyers-take-advantage-fha-loans

The article, Sped Up: Trends that are transforming the current recovery cycle as demographics' clock ticks faster, from www.builderonline.com, reports that demographics is no longer operating on analog time, which means that changes to the math and make-up of households will impact the already somewhat tricky relationship between your front-loaded investments in developing and building new homes, and the favorable closing of the investment loop when you settle with brand new owners. Here's the way the Census bureau's data meisters reveal that 2 important data points look:

Here is the link to the entire article: http://www.builderonline.com/design/consumer-trends/sped-up_o?utm_source=newsletter&utm_content=Opinion&utm_medium=email&utm_campaign=BP_071515%20(1)&he=98ffa202ee74a09a314d51cb32a1aeaaa93195b1