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Newsletter Monday Morning Coffee 10.30.23 Builders increased activities in September, sending housing starts back up, by 7.0% over August. Starts for single-families are now up 8.6% the past year, as tight existing home inventories are driving buyers to new builds. Building permits slipped in September, but it was all due to multi-family permits. Single-family permits increased and have done so […]
Newsletter Monday Morning Coffee 10.23.23 Moody’s Investors Service reveals new home sales made up 14% to 15% of total transactions over the last three quarters, up from 10% in pre-pandemic years. They project new home prices will dip 10% this year and 4% more in 2024. Analysts at nSkope (a predictive real estate service) report: “Real estate has returned to […]
Newsletter Monday Morning Coffee 10.16.23 Spending on residential construction in August was up 0.6% over July. Best of all, spending on single-family home building was up 1.7% for the month. According to Core Logic’s index, U.S. home prices posted a 3.7% annual price increase in August, the biggest since February. They forecast the annual price gain will come in at 3.4% […]
Newsletter Monday Morning Coffee 10.9.23 Sales of new homes dipped 8.7% in August, yet they’re still 5.8% ahead of where they were a year ago. Good news for buyers, the median sales price of NEW homes is down 13.4% from its peak late last year. The August index of signed contracts on existing homes slipped 7.1% from July. The National Association of Realtors noted, “Some would-be home buyers […]
Newsletter Monday Morning Coffee 10.2.23 Sales of existing homes dipped a tiny 0.7% in August, the third straight month of declines. Tight inventory is the culprit, both hurting sales and nudging the median price up modestly, now 3.9% ahead of a year ago. New Housing starts sank 11.3% in August, mostly due to a 26.3% drop in multi-units. Single-family starts are actually up 2.4% […]
Newsletter Monday Morning Coffee 9.25.23 CoreLogic Home Price Insights showed home prices accelerated in July, up 2.5% annually, after 1.6% yearly growth the prior two months. Prices have now risen annually six straight months, and are 5% above their February low. According to the National Association of Home Builders, nearly a third of all listings in July were new construction. […]
Newsletter Monday Morning Coffee 9.18.23 More homebuyers are searching for homes in areas “outside where they live”. During Q2 this year, 60.3% of listing views in the top 100 metros went to homes in another metro, an increase over the prior quarter and prior year. Home flippers keep making money. Flippers who sold in June typically got 61%—or $188,448—more than their original purchase […]
Newsletter Monday Morning Coffee 9.11.23 Confounding all forecasts, Pending Home Sales rose in July at the fastest pace since January. The National Association of Realtors noted, “Jobs are being added and, thereby, enlarging the pool of prospective home buyers. The S&P CoreLogic index reported a 0.7% increase in home prices in June, bringing them back to where they were a year ago. […]
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Newsletter Monday Morning Coffee 9.4.23 After slipping slightly in June, sales of new single family homes moved up 4.4% in July, and are now 31.5% higher than a year ago. Good news for buyers, the median sale price is down 12.1% from its peak last year. Also down were existing home sales, off 2.2% from June to July, thanks the […]
Newsletter Monday Morning Coffee Following the June decline, Housing Starts shot back up 3.9% in July—5.9% higher than a year ago. Plus, single-family starts gained 6.7% for the month—9.5% year-over-year—good news about these much-needed units. July Building Permits only eked out a 0.1% gain over June, but builders already have their hands full, with a near record number of […]
Newsletter Monday Morning Coffee 8.14.23 – Home Price Growth and Inspiration Builder activity in June sent residential construction spending up nearly 1% over May. Spending is still down from last year, but builders are now doing more single-family homes, up more than 2% for the month. The CoreLogic Home Price Index (HPI) showed annual price growth edged up to 1.6% in June. Month-over-month price growth has slowed, yet CoreLogic expects annual […]
Newsletter Monday Morning Coffee – 3.26.23 Zillow reports home values rose 1.4% from April to May, faster than the two spring markets before the pandemic. Low inventory is the reason, which can lead to “bidding wars as buyers compete for limited options.” The Mortgage Bankers Association reports purchase loan applications were up 8% versus the week before, and “the average loan size…decreased […]
Newsletter Monday Coffee 6.12.23 Monday Morning Coffee 6.12.23     Builders ramped up activity in April, sending residential construction spending up 0.5% for the month. Single-family construction spending is still down from a year ago, but multifamily is up. The Case-Shiller Index reported March home prices rose from a year earlier for the second straight month, noting “the decline in […]
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