The Real Economy Blog

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.

Rising rental market is tied to limited supply, not affordability

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Higher home prices in the United States are not fueling the rental market, despite media reports to the contrary. Instead, would-be buyers are seeking rentals due to the limited supply of homes for sale in what is expected to remain a hot market throughout the remainder of this year. The primary driver of the housing boom has been first-time homebuyers, ... READ MORE >

CHART OF THE DAY: Housing market stays steady despite headwinds

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The housing market in the United States remained resilient in May as developers continued to grapple with higher costs amid a shortage of supply. Housing starts rose 3.6% to 1.57 million while permits dipped 3% to 1.68 million, according to Commerce Department data released on Wednesday. While off the peaks from earlier this year, both figures are above ... READ MORE >

North American housing markets remain bullish

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In spite of the pandemic, the U.S. and Canadian housing markets have seen significant growth over the past year as individuals and families stuck in apartments were driven to the suburbs in search of bigger homes with space to live, work and play. In addition to a rise in demand for single-family housing, housing supply shortages, higher material prices, ... READ MORE >

CHART OF THE DAY: New home sales jump 20.7% in March

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New home sales in the United States bounced back with a 20.7% increase in March after a surprising 18.2% decline in February, according to Commerce Department data released Friday. The robust gain, which came as sales surpassed 1 million for the second time this year, shows that February’s decline was most likely a weather-driven outlier when a winter ... READ MORE >

CHART OF THE DAY: Existing home sales slump but market remains hot

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Sales of existing homes decreased 3.7% in March to an annual rate of 6.01 million for the second straight monthly decline, according to data from the National Association of Realtors released Thursday. But the decline was mostly driven by the dearth of inventory in the market, which continues to be below 1 million and came in at 900,000 in ... READ MORE >

CHART OF THE DAY: Housing is on fire

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Housing starts skyrocketed 19.4% in March to 1.739 million, blowing past expectations of 1.613 million and well above the 1.5 million long-term equilibrium, according to government data released Friday. The robust increase is a reversal from February's dip, which in hindsight appears to have been related more to the deep freeze that gripped the nation ... READ MORE >

CHART OF THE DAY: New home sales drop 18.2% in February as market cools

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The housing market continued to cool off from the torrid pace of last year as bad weather and rising costs took a toll in February. New home sales fell 18.2% last month, compared to January, to a seasonally adjusted 775,000 -- a nine-month low. At the same time, median home prices eased 1% to $349,400 nationally, according to government data released on ... READ MORE >