Pending home sales in February dipped for the fourth straight month as depleted inventory and rising mortgage rates dampened sales. … READ MORE >
Real estate
The housing market will endure interest rate hikes
While low interest rates have contributed to the increased demand for housing, the factors driving the market go beyond low rates and include a thriving economy, favorable demographics and a limited supply. … READ MORE >
Chart of the day: New home sales drop amid rising rates
New home sales posted the second consecutive month of decline in February as elevated prices and rising mortgage rates deterred buyers. … READ MORE >
Home sales dip in February amid rising prices and mortgage rates
Sales of existing homes dipped 7.2% in February after recording a sharp 6.6% rise in January, the National Association of Realtors reported on Friday. … READ MORE >
Higher energy costs are on hospitality’s radar
What was supposed to be the summer of “revenge” travel may end up disappointing expectations. … READ MORE >
Real estate to remain strong in face of interest rate bump
The Federal Reserve on Wednesday boosted interest rates by a quarter percentage point, leaving many landlords and real estate fund managers to wonder how the increase will affect their operations and bottom line. Fortunately, no one needs to ring the alarm. With the cost of capital remaining low, continued interest in real estate from both domestic and foreign investors, and robust demand for sectors such as housing and industrial, real estate should continue to see positive trends despite the near-term interest rate hike. … READ MORE >
U.S. new home sales declined in January
New home sales dropped 4.5% in January as high prices and increasing mortgage rates slowed demand. The omicron variant and colder-than-usual weather in January were also factors in the decline. … READ MORE >
Chart of the day: Buyers rush into housing market before rate hikes
Investors with all-cash offers flocked into the housing market before rate hikes, helping to push sales of existing homes to 6.5 million in January at an annualized rate. … READ MORE >
Chart of the day: U.S. housing permits reach 15-year high
Housing starts declined by 4.1% in January on an annualized rate. But housing starts remained well above the long-term equilibrium for housing supply of around 1.5 million a year. … READ MORE >
How construction firms can manage a fractured supply chain
Contractors are telling us that their biggest challenge is getting materials to job sites for installation. Items like structural steel joints, windows and door frames that used to take a couple of days to deliver are now taking months to arrive. … READ MORE >