Ongoing bidding wars, rebooking for vacay, rooftop cell sites, 3D-printed houses, and three REITs to show some love.
In Today’s News
Nationwide, 55.9% of Redfin (NASDAQ: RDFN) offers for homes faced bidding wars in January 2021, up from a revised rate of 52.5% in December. This is the ninth consecutive month where more than half of home offers written by the company’s agents were in such high competition.
Why it matters: Redfin is only part of the market, of course, but its experience is a pretty good indicator that it remains a seller’s market out there in many areas.
More than half of travelers have rebooked or plan to rebook canceled trips in 2021, according to an IHG Hotels & Resorts (NYSE: IHG) survey of 6,000 people, including 2,000 Americans, conducted by OnePoll in January and reported by TravelPulse.com this week.
Why it matters: There’s some optimism in the air, and travelers, too, that could be a harbinger of a happier spring and summer for hotels and other hospitality purveyors as the coronavirus vaccine rollout continues.
GlobeSt.com says that alternative asset manager Melody Investment Advisors will invest in 14 rooftop cell sites at hotels and resorts owned by Pebblebrook Hotel Trust (NYSE: PEB).
Why it matters: Well, there’s a good way to make up for some lost room revenue. In fact, it’s a good way to make hay even if the hotel is full. With 5G driving demand for small cell settings like this, there could be a lot more of this business for lots of commercial real estate holders.
Today on Millionacres
There’s something unique about this 1,400-square-foot new home for sale in Riverhead, New York — and it’s not the 2.5-car garage. The seller’s agent claims it’s a first.
Why it matters: Millionacres’ Jeff Piltch notes that such technology could help with labor shortages and other issues affecting new home construction. He adds that although the first-use cases are in single-family residential, affordable housing is probably next. Watch out for more such disruptions and the investment opportunities they bring.
If you love dividends (and who doesn’t?) it can be hard to find attractive stocks to buy today. But that doesn’t mean you can’t; it just means you have to work a little harder to search them out.
Why it matters: You’ll have to click on the headline to find out which three real estate investment trusts (REITs) are being recommended here by Millionacres’ Reuben Gregg Brewer. Just a little way to tease you, our esteemed readers, as we head into Valentine’s Day weekend!
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