Investment Update: Single-Family Rents on Upward Trend

first_imgHome / Daily Dose / Investment Update: Single-Family Rents on Upward Trend The Best Markets For Residential Property Investors 2 days ago Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia. Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Previous: Exclusive Preview: Brian Montgomery to Discuss COVID-19, CWCOT Next: Mortgage Credit Tightens Slightly Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Investment renter SFR 2020-04-21 Seth Welborn Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img About Author: Krista F. Brock The Best Markets For Residential Property Investors 2 days ago Single-family rent prices were on an upward path early this year, driven primarily by continued growth at the lower end of the market. In fact, rents rose 3.3% over the year in February, charting their biggest annual jump since August 2016, according to CoreLogic’s Single-Family Rent Index released Tuesday.Overall, single-family rents have been on the rise over the past decade, but they have decelerated somewhat since reaching a peak of 4.2% in February 2016, according to the index.While rents have grown overall across the market, rent price growth at the lower end of the market has been rising at a higher rate than the higher end of the market since April 2014. However, CoreLogic noted that the gap is closing.CoreLogic defines lower-priced rentals as those with prices lower than 75% of the median rent in their region. High-priced rentals are those that have rental prices more than 125% of the median rent in their region.At the lower end of the market, rents charted a 3.6% year-over-year increase in February, down from a 4% annual gain recorded in February 2019.However, this rate is still higher than the 3% increase recorded at the high end of the market. Also, illustrating that narrowing gap between rent growth at the high and low ends of the market, CoreLogic mentioned, high-end rent growth is up from a 2.6% growth rate recorded in February 2019.CoreLogic attributed persistent rent growth to rental home inventory lagging demand.Among the 20 large metro areas observed, Phoenix had the highest rate of annual rent growth in February at 6.2%. The metro was followed closely by the Seattle metro, where rents grew 6.1% over the year in February.Phoenix’s rent growth can be attributed in part to its strong economy and growing employment. In fact, employment grew 3.2% in Phoenix in February compared to 1.6% across the nation overall, according to CoreLogic.Other factors that can cause accelerated rent growth in a market are low vacancies among rental properties and limited construction.Detroit was the only metro to post a decline in rents in February with a 2.2% annual.Honolulu, Miami, and Philadelphia all posted rent growth under 2% in February.February’s overall rent growth took place alongside strong employment growth for the month, but the departure that took place in March will likely make waves in the rental market.The spike in unemployment sparked by the COVID-19 pandemic “has disrupted the typical rental demand and supply dynamic, which will ultimately impact rent growth in coming months,” according to CoreLogic.While noting that demand could detract in the short-term, Molly Boesel, principal economist at CoreLogic said Tuesday, “However, as we look ahead to an economic recovery, consumers may begin considering single-family rentals over multifamily options to provide more space for at-home offices and distance from other housing units.” Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Investment renter SFR April 21, 2020 1,170 Views Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Investment Update: Single-Family Rents on Upward Trend in Daily Dose, Featured, Investment, News Subscribelast_img read more

Lending to your nonprofit members

first_img 4SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr U.S. nonprofits are growing in number, revenue and assets, according to the most recent data available on this important segment of the economy. Credit unions considering lending to nonprofits may want to be aware of these recent financial trends, as well as some of the ways lending to these organizations might differ from lending to for-profit member businesses.According to the Urban Institute’s “Nonprofit Sector in Brief 2015,” the number of nonprofits registered with the Internal Revenue Service increased by about 3,000 a year between 2003 and 2013. Religious congregations and organizations generating less than $50,000 in annual revenue aren’t required to register, however, so the total number of nonprofits is unknown, according to the report.Finances related to U.S. nonprofits are also opaque, considering only a small percentage is required to file some version of Form 990, the return for organizations exempt from income tax. Based on filings with the IRS, however, reporting nonprofits’ revenues and assets grew more quickly between 2012 and 2013 than did their expenses, the Urban Institute said. Revenues increased 3 percent to $2.26 trillion, assets rose 5.2 percent to $5.17 trillion, and expenses grew 1.7 percent to $2.10 trillion.Nonprofits, excluding those serving government and business, contributed an estimated $905.9 billion to the U.S. economy in 2013, or roughly 5 percent of GDP. continue reading »last_img read more