The Real Economy Blog

Nick Grandy

Nick Grandy is an assurance manager for RSM, based in Boston. He was recently selected for RSM’s Industry Eminence Program as a senior analyst, specializing in real estate and construction. In this role, he will identify and study economic trends affecting the real estate and construction industries.

Traditional retail’s loss has been industrial’s gain

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The holiday season is upon us and like most everything that has happened in 2020, it will bring unprecedented experiences due to the pandemic. Most people associate the holidays with buying presents for friends and family and getting together to share each other’s company. But with the coronavirus still raging, these time-worn practices may not be possible. ... READ MORE >

CHART OF THE DAY: New home sales continue to surge

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Sales of new homes have continued to reach new heights, increasing by 4.8% to a seasonally adjusted rate of a little more than 1 million for August – the first time new home sales had eclipsed that mark since 2006. Compared to the same period a year earlier, sales surged 43.2%, according to data released from the U.S. Census Bureau on ... READ MORE >

CHART OF THE DAY: Existing home sales surge

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Existing home sales surged in July by the most on record, increasing 24.7% from June to a 5.86 million annualized rate. The housing market has been booming as a result of low mortgage rates, which have been hovering around 3%, pent up demand from millennials who have been entering the housing market, and an increased interest in suburban markets following ... READ MORE >

Laying the foundation for construction’s IT future

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The construction industry has seen gains in employment since April, despite overall declines in spending, as workers were brought back to complete necessary emergency projects and jobs begun prior to the pandemic. For the month of July, total construction employment increased a modest 0.3% to 7.2 million, up from an April low of 6.6 million. While ... READ MORE >

There is no V in housing, but there is in recovery

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The strong data for housing starts and permits in June released last week were just the opening act for the V-shaped recovery in housing. Existing home sales increased 4.72 million for June, up 20.7% from the previous month, according to data released on Wednesday by the National Association of Realtors. Existing and pending home sales surged in ... READ MORE >

Housing remains a leader in the economic recovery

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Housing continues to be a bright spot in the economy, with housing starts jumping 17.3% in June and housing permits rising 2.1% -- the second straight month of gains following the economic shutdowns of March and April. While the June housing data, released by the Commerce Department on Friday, may have been short of market estimates, the growth in ... READ MORE >

What’s behind the resurgent housing market

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With the onset of the coronavirus, a wave of uncertainty overtook the housing market and brought a swift halt to home sales and home building in March and April. But trends in May and June have shown that housing may be in the midst of a V-shaped recovery. After falling for three straight months, both housing starts and building permits rose in May to ... READ MORE >