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 they had eclipsed that mark since 2006. … READ MORE >
Real estate
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. … 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. … 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. … 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 … … READ MORE >
FHA mortgage delinquencies show some homeowners in trouble
Federal Housing Administration mortgage delinquencies hit an all-time, four-decade high, according to data released on Monday, a sign that disadvantaged homebuyers are clearly struggling in the pandemic-impacted economy.
The share of FHA mortgage delinquencies rose to almost 16%, in the second quarter, the highest level since 1979, as reported by the Mortgage Bankers Association. The delinquency rate for conventional loans, by comparison, sits at 6.7%. … READ MORE >
CHART OF THE DAY: Home builder optimism reaches record high
Many industries are still recuperating from the impact of the pandemic, but housing has been fortunate to experience a V-shaped recovery. Not only has the Housing Market Index from the National Association of Home Builders recovered to pre-pandemic levels, it has now matched December 1998 for an all-time high in the index’s 35-year history. … READ MORE >
Hotel occupancy data: It’s only half the story
At first glance, hotel occupancy rates have been looking favorable recently. But with many hotels closing as the coronavirus spreads, occupancy rates are not providing the full picture. That’s where a new measurement called total-room-inventory occupancy, or TRIO, comes in, and the picture isn’t so promising. … READ MORE >
Laying the foundation for construction’s IT future
As the construction sector is poised to pick up, construction companies should look to participate in digital transformation, by deploying new technologies on and off the jobsite to build flexible and resilient operations that can promote long-term growth. … READ MORE >
An SOS for commercial real estate
As the length and severity of the coronavirus pandemic continue wreak havoc on the economy, real estate deals are at best being reworked and at worst falling apart altogether. … READ MORE >