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7 EVP, Potestivo & Associates Page 22 THE EXCHANGE WITH Michael Woods Journal Compiled by the DS News Staff TA K E A L O O K I N S I D E T H E N U M B E R S DATA BITS Source: Black Knight December Mortgage Monitor Report for December 2019 INVESTORS SEE RECORD SFR APPRECIATION Single-family rents grew by an average of 3% in 2019, driven in part by the lowest unemployment rate in over 50 years, according to the CoreLogic Single-Family Rent Index (SFRI), a measure of rent changes among single-family rental homes, including condominiums. "Strong economic growth and the lowest unemployment rate in over 50 years helped push single-family rents up by an average of 3% in 2019, which was the fastest rent appreciation since 2016," CoreLogic said. According to the Index, rents on lower- priced rental homes increased 3.4% year over year and rents for higher-priced homes, defined as properties with rents more than 125% of the regional median rent, increased 2.5% year over year. Rents for lower-priced homes have been growing faster than for higher-priced homes since May 2014, though the difference in these two growth rates has narrowed over time. e index's overall growth in December 2019 was propped up by low-end rentals, defined as properties with rents 75% or less of a region's median rent. Rents on lower-priced rental homes increased 3.4% year over year and rents for higher- priced homes, defined as properties with rents more than 125% of the regional median rent, increased 2.5% year over year. Rents for lower- priced homes have been growing faster than for higher-priced homes since May 2014, though the difference in these two growth rates has narrowed over time. Phoenix had the highest year-over-year rent growth this December as it has since December 2018, with an increase of 6.7%, followed by Tucson (+5.7%) and Las Vegas (+5.1%). Honolulu had the lowest rent growth in December, increasing by 0.4% from the prior year. Orlando had the largest deceleration in rent growth in December, showing annual rent growth of 2.9 percentage points lower than in December 2018. Boston had the largest acceleration in rent growth in December, with rents increasing 2.4 percentage points faster than in December 2018. 1 0.30% COLORADO 2 0.32% IDAHO 3 0.35% OREGON 4 0.36% WASHINGTON 5 0.36% CALIFORNIA 6 0.39% MONTANA 7 0.40% NORTH DAKOTA 8 0.48% UTAH 9 0.49% WISCONSIN 10 0.51% ARIZONA RANKING SERIOUS DELINQUENCY RATE 1 2.98% MISSISSIPPI 2 1.80% LOUISIANA 3 1.72% ALABAMA 4 1.63% ARKANSAS 5 1.21% WEST VIRGINIA 6 1.20% INDIANA 7 1.16% TENNESSEE 8 1.14% DELAWARE 9 1.11% PENNSYLVANIA 10 1.08% SOUTH CAROLINA/OKLAHOMA RANKING METRO I N S I D E T H E J O U R N A L | O N T H E W E B | T H E A P P S P E C T R U M | M O V E R S & S H A K E R S A look at facts you didn't know you couldn't live without. Fannie Mae and Freddie Mac have completed 3.98 million foreclosure prevention actions as of November 2019. The Federal Reserve Bank of New York reported total household debt rose to 14.15 trillion in Q4 2019. 10 STATE S WITH THE LOWE ST SE RIOUS DE LINQUE NCY R ATE S 10 STATE S WITH THE HIGHE ST SE RIOUS DE LINQUE NCY R ATE S METRO "Strong economic growth and the lowest unemployment rate in over 50 years helped push single-family rents up by an average of 3% in 2019, which was the fastest rent appreciation since 2016."

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