Built-To-Rent

Interesting article and chart from Bill McBride about more new construction being built with the intention of renting than ever before.

New Privately-Owned SFH Housing Units Started

On a related note, Jassen Bowman shared this with me from FRED. It shows the number of new privately-owned single family home housing units started over time.

New Home Construction

Several really good new home construction charts from Bill McBride including this one showing how many months of supply we have compared to historical data.

Investor Purchases Are Down

The number of investment properties bought by investors are down compared to this time last year—when interest rates were amazing and the number of investment purchases appeared to be up from previous years. No real surprise here.

Misc Charts

Some miscellaneous charts from Lon Welsh. Thanks!

The number of people applying for mortgages is the lowest we’ve seen for this week in 10 years. But, not by that much. It is still relatively close to what we saw back in 2014 and 2015… back when it was a more normal market in many ways.

Mortgage interest rates are up a bit, but not quite as high as we saw late last year.

The number of rate locks are also low compared to the crazy hot years of 2018-2022. No surprise (at least to me) there.

Which Real Estate Investors Are Buying?

This is for Phoenix from Rick Palacios Jr (via John Wake’s email).

Love,

James Orr
The Real Estate Financial Planner™