255: State Of The Real Estate Market with Daren Blomquist
State Of The Real Estate Market with Daren Blomquist
Keith Weinhold says the word of this real estate era may be: “supply”. Why?
The U.S. just hit its lowest rental vacancy rate in 35 years: 6.8%.
Also, the U.S. just hit its lowest homeowner vacancy rate in 40 years: 1.3%.
Mortgage interest rates just fell to near three-year lows.
U.S. existing median SFHs now a record $279,600.
Year-over-year appreciation is 4.3%.
Regulation and environmentalism increase real estate prices.
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Next, Daren Blomquist of Auction.com joins Keith to discuss current U.S. trends in:
- Foreclosure activity.
- Home price appreciation.
- Migration trends.
Foreclosure activity is down due to high employment, more exotic loans now “rooted out of the system”.
91-92% of metros Daren studied are appreciating in value.
Net migration winners include: Florida, Texas, Tennessee, The Carolinas, Georgia, Washington, Arizona, Nevada, Colorado.
Net migration losers include: New York, California, Illinois, Louisiana.
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