U.S. Home Price Gains Continue Through End of Third Quarter, Radian Home Price Index Reports

Home prices across the United States continued to climb in September, rising 7.8 percent in the twelve months since October 2019, according to Radian Home Price Index (HPI) data released today by Red Bell Real Estate, LLC, a Radian Group Inc. company (NYSE: RDN). The Radian HPI is the most comprehensive and timely measure of U.S. housing market prices and conditions.

Since the start of the year, the Radian HPI has risen at an annualized rate of 7.4 percent, which was higher than the increase of 6.4 percent recorded during the first nine months of 2019. During the third quarter (July – September 2020) national home prices increased at an annualized 8.9 percent, which outpaced the 6.8 percent annualized gains during the second quarter (April – June 2020), where home prices gains were more subdued. The Radian HPI is calculated based on the estimated values of more than 70 million

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Oklahoma City rent increased by 32.5% since 2010, HUD reports

Along with housing prices, rental prices have risen dramatically in the last decade. 

According to data from the Department of Housing and Urban Development (HUD), the average rental price for an apartment is about $1,400 per month in 2020, an increase of 32 percent in nominal dollars from 2010.

Some cities have experienced much larger increases in rent, but income has not kept pace. 

Economic data from the Bureau of Labor Statistics, which compares the relative change in prices paid by consumers for goods, services, and housing, shows that rent and housing prices are increasing at a faster rate than other items. 

Home sale prices have more than rebounded from the crash in 2008, while rent prices have risen steadily, showing only a slight dip during the last recession. When compared to other goods and services—including food, clothing, and transportation—both rented and owned housing are becoming relatively more expensive.

While

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Drew Brees buys luxury Canal Street condo, celebrity news site reports | Saints

The New Orleans Saints’ beloved quarterback, Drew Brees, has purchased one of the 92 condominiums in the future Four Seasons New Orleans Hotel at the foot of Canal Street, according to a story on the TMZ website. The hotel/apartment development will occupy the 1968-vintage, modernist tower once known as the International Trade Mart.

Work began on the renovation of the 34-story former office building in 2018 and may be completed as soon as 2021. The redevelopment was projected to cost $450 million and will include 341 hotel rooms as well as condos.

According to the breathless TMZ report, “Drew’s new pad is coming with ALL the bells and whistles … from private access to a bar/lounge to a golf simulator room.”

David Seerman, a Four Seasons sales manager, said in a telephone interview on Wednesday that condos range in price from $2 million to $10 million, but he would not

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