255: 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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