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Uncertain Real Estate Market

What's really going on in today's real estate market?

Welcome to our weekly edition of Hot Real Estate Investment News.
Home prices are up, rents keep rising, vacancies are drying up, and at least some markets are making a strong comeback.
Here are real estate investing related news items that caught our attention this past week. We hope they help you stay up-to-date with your real estate investment strategies and inspire some profitable real estate deals for you.
Let us know what you think by leaving your “Comments” below.

Prices Up Again in May, Trend Will Continue into June: CoreLogic‘s Esther Cho reports:
“For the third month in a row, home prices posted both yearly and monthly gains, according to CoreLogic’s May Home Price Index (HPI) report.
When including distressed sales, home prices increased 2 percent in May from a year ago and rose 1.8 percent month-over-month….”

Rents keep rising, while home prices inch higher

CNNMoney’s, Les Christie reports in part:
“U.S. rents rose an average of 5.4% over the 12 months ended June 30, according to real estate website Trulia. Demand from former homeowners displaced by foreclosure and potential homebuyers who failed to qualify for mortgages have helped to send rents skyward.”

Gains in Asking Prices Threatened by Foreclosures, Rent Up Again: Trulia

“After falling flat in May, asking prices went up in June, and rent prices continued to see significant increases, according to reports from Trulia released Tuesday,” reports Esther Cho.

Rents Increase as Vacancies Dry Up

From The Wall Street Journal:
“Landlords boosted apartment rents to record levels in the second quarter as demand from tenants sitting out the home-buying market pushed vacancy rates to their lowest point in more than a decade, according to a report to be released Thursday. Despite the sluggish economy, average rents increased in all 82 markets tracked by Reis Inc.,a real estate data firm….
‘The market is in a very tight position,” Reis said in a research report. “There is a paucity of available units.’
The nation’s vacancy rate fell during the quarter to 4.7%, its lowest level since the end of 2001, Reis said. That’s down from 4.9% in the first quarter of this year and from 8% in 2009, when millions of would-be renters were doubling up or living with family.”

VeroFORECAST Finds Continued Acceleration in Housing Recovery among Select Markets

Veros Real Estate Solutions has just released its real estate market forecast for the 12-month period ending June 1, 2013. The report shows the housing market’s gradual recovery on a national level is steadily building.
Projected Five Strongest Markets*

  1. Phoenix-Mesa-Scottsdale, AZ 6.4%
  2. Boise City-Nampa, ID 3.8%
  3. Boulder, CO 3.6%
  4. Bismark, ND 3.5%
  5. Denver-Aurora, CO 3.3%

Projected Five Weakest Markets*

  1. Reno-Sparks, NV -5.0%
  2. Fresno, CA -4.9%
  3. Bakersfield, CA -4.7%
  4. Modesto, CA -4.6%
  5. Stockton, CA -4.3%
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