Pending sales of homes bounced back strongly in August with an 8.1% increase after two consecutive months of declines, according to data released Wednesday by the National Association of Realtors. … READ MORE >
Real estate
Chart of the day: Sales of existing homes drop amid high prices
Existing home sales in August inched down 2.0% to 5.88 million, following an upwardly revised 6.00 million in July. … READ MORE >
Home builders, facing shortage of materials, can’t meet soaring demand
Even as the housing market continues to lead the U.S. economic recovery, home builders, whipsawed by more than a year of dramatic changes fueled by the pandemic, are facing new pressures as they try to meet surging demand. … READ MORE >
What the U.S. government’s openness to remote work means for contractors and real estate
The first flexible coworking services contract is a major signal that government contractors will be serving a more dispersed, flexible customer in the future. This is great news for contractors who are battling for talent in a tight labor market and looking for continued return on their recent IT remote work investments. … READ MORE >
CHART OF THE DAY: Mortgage rates resume their downward march
Ten-year U.S. Treasury yields have drifted lower over the past couple of months, bringing mortgage rates to the lowest levels in nearly six months and well below historical levels. … READ MORE >
CHART OF THE DAY: Housing market remains strong
Home builder confidence dipped slightly in June, with the National Association of Home Builders on Tuesday reporting a confidence index of 80, down from 81 in May. … READ MORE >
Why the housing market is not in a bubble
Not only are inventories below their historical averages, but buyers are also more credit-worthy – two significant differences from the housing bubble of the years before the Great Recession. … READ MORE >
How an ESOP can preserve a business, and a legacy
Many owners in the construction industry are looking to the employee stock option plan, or ESOP, when putting a succession plan in place. … READ MORE >
Rising rental market is tied to limited supply, not affordability
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. … READ MORE >
CHART OF THE DAY: Housing market stays steady despite headwinds
Housing starts rose 3.6% to 1.57 million in May while permits dipped 3% to 1.68 million, according to Commerce Department data released on Wednesday. … READ MORE >