The National Association of Homebuilders’ (NAHB) Real Rent Index was essentially flat in June, falling just 0.1%. This is the Index’s first decline since 2013 and the annual growth rate of the Index fell to negative 1.4% after posting three months of growth, ranging between 4% and 8%.
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More than half of mortgage borrowers have lost income due to the COVID-19 pandemic, and close to one in five have missed a payment during the months since the pandemic hit the United States.
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The latest housing data offers a slightly disappointing consideration of mortgage applications, a more optimistic view of pending home sales, and a national homeownership rate that reached a height not seen in nearly 12 years.
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Jesse Roth joined Auction.com in 2012 as the SVP of Business Development and Client Management, where he oversees the business development and strategic initiatives of Auction.com’s national real estate disposition business.
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What Happens if 23 Million Renters Are Evicted?
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For the first time in five months, the national delinquency rate improved, falling to 7.6% in June as the number of past-due mortgages fell by 98,000, according to Black Knight.
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The National Association of Homebuilders’ (NAHB) Real Rent Index was essentially flat in June, falling just 0.1%.
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CNBC reported that Democrats and Republicans in the House cast doubt on Tuesday whether Congress will pass a second COVID-19 relief bill.
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Single-family rents rose 1.7% annually in May 2020—the lowest growth rate since July 2010—according to CoreLogic’s Single-Family Rent Index (SFRI).
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The housing markets most vulnerable to impacts from the Coronavirus pandemic tend to be located along the West Coast, clustered around New York, Baltimore, and Washington, D.C., and numerous markets in the Chicago area, according to a special report from ATTOM Data Solutions.
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