While foreclosure activity continues to decrease year-over-year reaching pre-recession levels, analysis of U.S. Census Bureau data from the Pew Research Center revealed This Week in Real Estate multigenerational households hit an all-time high in 2016. Below are a few highlights from the second week of April that influence our business:
* Number of Multigenerational Households Hit All-Time High. The share of Americans living in multigenerational households, homes with two or more adult generations, hit an all-time high in 2016, according to a new analysis of U.S. Census Bureau data from the Pew Research Center. In 2016, the number of multigenerational households increased to 20% of the U.S. population, or 64 million people, an all-time high. In 2009, about 51.5 million Americans, or 17% of the population lived in multigen households, which rose to 60.6 million, or 19% of the population in 2014.
Full Story... https://www.housingwire.com/articles/43055-number-of-multigenerational-households-hit-all-time-high
* U.S. Foreclosure Activity Decreases 19 Percent in Q1 2018 to Stay Below Pre-Recession Levels for Sixth Consecutive Quarter. ATTOM Data Solutions released its Q1 2018 U.S. Foreclosure Market Report on Thursday, which show a total of 189,870 U.S. properties with a foreclosure filing during the first quarter of 2018, up 4 percent from the previous quarter but still down 19 percent from a year ago and 32 percent below the pre-recession average of 278,912 per quarter from Q1 2006 – Q3 2007 – the sixth consecutive quarter where U.S. foreclosure activity has been below its pre-recession quarterly average. The report also shows a total of 74,341 U.S. properties with foreclosure filings in March 2018, up 21 percent from an all-time low in the previous month but still down 11 percent from a year ago – the 30th consecutive month with a year-over-year decrease in U.S. foreclosure activity.
Full Story... https://www.attomdata.com/news/market-trends/foreclosures/q1-2018-u-s-foreclosure-market-report/
* Record Commercial/Multifamily Volume in 2017. Multifamily mortgage financing was the big winner overall in what was a record setting year for commercial and multifamily originations. The Mortgage Bankers Association (MBA) said a record $530.1 billion in loans were closed in 2017, an 8 percent gain from 2016. The largest share of lending, more than half of the volume closed, was for multifamily properties at $233.9 billion. Loans for office buildings were second followed by retail, hotel/motel, industrial, and health care properties. Ninety-six percent of the dollar volume went to first mortgage liens. “2017 was a very strong year, driven by solid property fundamentals, rising property values, low interest rates, and a ready supply of mortgage capital all contributing to extraordinarily attractive finance markets,” said Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Research. “We expect another robust year in 2018, even with the slight increase in interest rates, although perhaps not quite as robust as 2017.”
Have a productive week.