Existing home sales increased to a seasonally adjusted annual rate of 6.85 million in October, representing a 4.3% increase month over month and the highest level since February 2006, according to data released Thursday by the National Association of Realtors. This increase, combined with homeowners’ reluctance to sell, has depleted inventory, which ... READ MORE >
Real Estate
Real estate and the middle market go hand in hand. Developers in commercial, residential and industrial markets provide the economic fuel to transform local economies, building infrastructure that leads to new business and job creation.
CHART OF THE DAY: Homebuilder confidence reaches all-time high
Confidence among homebuilders reached an all-time high in November as buyers looking for more room to live and work continued to enter the market, according to the National Association of Homebuilders Housing Market Index released on Wednesday. The index, which rose to 90, is a composite measurement of future sales, present sales and buyer traffic -- all ... READ MORE >
CHART OF THE DAY: New home sales cool as inventory remains limited
New single-family home sales dropped 3.5% from August to September as the robust market began to cool heading into the fall months, the Commerce Department reported on Monday. The decline was expected after the heightened pace of sales over the summer, with many urban renters fleeing to the suburban market and existing home inventory at record lows. Even ... READ MORE >
CHART OF THE DAY: Anticipation of pandemic demand for single-family homes
Even as millions of workers struggle amid the pandemic-induced downturn, certain sectors of the economy have emerged as beneficiaries from changing consumer behavior. Chief among these have been those companies that provide suburban housing to city dwellers looking for more room to live and work. In September, housing starts rose by 1.9% to a seasonally ... READ MORE >
There is no cooling the housing market as homebuilder confidence surges
The U.S. homebuilder confidence index continues to reach new heights, rising to 85 in October, according to data from the National Association of Home Builders released on Monday. The reading was stronger than the median forecast of 83, marking the sixth straight month that the index has exceeded the consensus estimate. All three components of the ... READ MORE >
CHART OF THE DAY: New home sales continue to surge
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: As housing market heats up, inventory shrivels
Existing home sales in August topped 6 million for the first time since 2006 as big-city renters continued to flock to the suburbs for more space, including a home office and a yard to accommodate their new normal. Meanwhile, existing homeowners are hesitant to put their houses on the market, given uncertainty around the coronavirus pandemic and fears ... READ MORE >
CHART OF THE DAY: Housing starts decline 5.1%
Housing starts declined 5.1% month over month in August, while forward-looking building permits held steady with a slight decline of .9%, the Commerce Department reported on Thursday. This brings the seasonally adjusted annual rate of housing starts to 1.4 million and permits to nearly 1.5 million. Fueled by low interest rates and the recent migration to ... READ MORE >
Chart of the Day: New home sales rise as housing stays hot
Sales of new homes continue to soar, increasing by 13.9% to a seasonally adjusted rate of 901,000 for the month of July, and up 36.3% from the same period a year earlier, according to data released this week from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. New home sales are up 8% year over year. We expect this trend ... READ MORE >
CHART OF THE DAY: Existing home sales surge
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 >