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The Real Estate News Brief: 2022 Home Price Forecasts, Single-Family Rent Growth, Record Starts for BTR

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Sinopsis

In this Real Estate News Brief for the week ending November 20th, 2021... home price forecasts for next year, single-family rent growth, and a new record for build-to-rent home starts. Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review. Economic News We begin with economic news from this past week. The number of people applying for unemployment keeps dropping. Last week, just 268,000 people applied for state benefits. That’s getting close to pre-pandemic levels which were in the low 200,000’s. The number of people already getting state unemployment benefits is also lower. That number dropped to a total of 2.08 million. (1) Home starts were down slightly in October as builders struggled with supply chain issues and a labor shortage. They were down .7% from the previous month, but compared with October of last year, they were up slightly. Single-family starts were down the most, with a 3.9% decline. But there’s a strong demand for ho