Amid the ongoing pandemic, the real estate industry has shown significant opportunity and resilience. Hospitality has been sustained by the revival of leisure travel, as customers once again embark on vacations. While corporations still exercise caution over business travel, signs of the sector’s ... READ MORE >
Real estate
Chart of the day: New home sales rise above 11% for second straight month
Sales of new single-family homes in December beat the market's median estimate by a wide margin, rising by 11.9% to 811,000 on an annual basis, according to data released by the Commerce Department on Wednesday. Although November's reading for the month-over-month change was revised down to 1.7%, that ... READ MORE >
Chart of the day: Existing home sales fall 4.6%
Existing home sales in the United States cooled off significantly in December, dropping 4.6% on the month to 6.18 million amid near-record housing prices and supply constraints, according to a report from the National Association of Realtors on Thursday. Still, 2021 was a record year for the housing ... READ MORE >
Chart of the day: Housing starts and permits end year with upside surprises
The housing market ended the year on a strong note as housing starts and permits rose unexpectedly in December, beating estimates of potential declines. Most of the monthly gains came from sharp increases in multifamily homes, a sign of strong confidence among builders—which was in line with data from ... READ MORE >
Housing starts in Canada fall as materials remain in short supply
Canada’s housing starts in December fell to 236,100, a drop of 22.3% from November because of material shortages following the floods and landslides in British Columbia that kept construction materials stranded at the Port of Vancouver, according to data released by the Canada Mortgage and Housing ... READ MORE >
What investors must know about opportunity zones before 2022 and beyond
There isn’t much time left for real estate investors to take advantage of one of the biggest perks of opportunity zones. Opportunity zones—a program started under the Tax Cuts and Jobs Act of 2017—are economically distressed areas where the government hoped to create jobs and increase spending through ... READ MORE >
Biden’s $1.2 trillion infrastructure package and real estate
On Nov. 15, President Biden signed a $1.2 trillion infrastructure package—The Infrastructure Investment and Jobs Act—that provides historic funding levels to improve public works, including roads, bridges, highways, internet access and the power grid, as well as to mitigate the effects of climate change. ... READ MORE >
Biden’s $1.2 trillion infrastructure package and the construction industry
On Nov. 15, President Biden signed a $1.2 trillion infrastructure package—the Infrastructure Investment and Jobs Act—providing historic funding levels to improve public works, including roads, bridges, highways, internet access and the power grid, as well as to mitigate the effects of climate ... READ MORE >
Pending home sales in October rebounded to highest in 2021
Pending home sales rebounded by 7.5% in October following a small decline of 2.4% in September, continuing their rise from a recent low in April, according to new data on Monday from the National Association of Realtors. The sharp increase in contract signings month-over-month pointed to housing demand ... READ MORE >
Chart of the day: Existing home sales inched up in October
Sales of existing homes inched up by 0.8% in October to 6.34 million, carrying some of the momentum in September, when sales jumped by a significant 7.0%, according to data released by the National Association of Realtors on Monday. Despite supply constraints and elevated prices, the small increase was ... READ MORE >