Economists say construction forecast remains steady despite pandemic Economists says that the industry’s post-recession rebound will be crucial to states like Nevada; in October construction made up roughly 1in 14 jobs in the state… Read More The Nevada Independent https://thenevadaindependent.com/article/economists-say-construction-forecast-remains-steady-despite-pandemic-stadium-completion
Mortgage Rates Fall Again The average 30-year mortgage rate fell to 2.796% while the 15-year mortgage rate fell to 2.278% right after Thanksgiving… Read More Motley Fool https://www.fool.com/mortgages/2020/11/27/todays-mortgage-rates-november-27-2020-rates-fall/
Nearly Half of Americans Are Considering a Move During the Pandemic, but Why? According to a recent survey, nearly half of American are considering moving within the next year due to concerns over living expenses… Read More Realtor.com https://www.realtor.com/news/trends/who-is-moving-and-why-coronavirus/
Median Home Price Sets New Record in California In September, California’s median home price reached $712, 430, finishing four straight months of record highs… Read More The New York Times https://www.nytimes.com/2020/11/30/realestate/california-housing-market-price.html
MetroIntelligence Economic Update by P. DUFFY Pending home sales slip 1.1 percent in October, but still up 20.2 percent year-on-year The Pending Home Sales Index fell 1.1% to 128.9 in October, the second straight month of decline. Year-over-year, however, contract signings rose 20.2%. Contract activity was mixed among the four major U.S. regions, with the only positive month-over-month growth happening in…
Affordable Housing Lottery Launches For BPHN Senior Residences In East Flatbush, Brooklyn BPHN Senior Residences is now open, a mix-used development in Brooklyn with 58 studio apartments for senior residents at 50% of the area median income… Read More New York Yimby https://newyorkyimby.com/2020/11/affordable-housing-lottery-launches-for-bphn-senior-residences-in-east-flatbush-brooklyn.html
MetroIntelligence Economic Update by P. DUFFY New home sales slip 0.3 percent in October, but up 41.5 percent year-on-year Sales of new single-family houses in October 2020 were at a seasonally adjusted annual rate of 999,000, 0.3 percent below the revised September rate of 1,002,000, but is 41.5 percent above the October 2019 estimate of 706,000. The seasonally-adjusted estimate of…
Home Searches in Cities Up 200% From Last Year, Reflecting Renewed Interest in Urban Areas After Pandemic-Driven Drop The uptick in urban home searches closely trails a 235% increase in searches for homes in rural areas… Read More Redfin https://www.redfin.com/news/home-price-increase-rural-urban-searches/
Homebuilders cater to changes influenced by pandemic’s impact on work and family The pandemic has had a big impact on what buyers are looking for in a new home. Lower interest rates have helped spur an active market for buyers and sellers… Read More WRAL.com https://www.wral.com/coronavirus/home-builders-cater-to-changing-demands-influenced-by-pandemic-s-impact-on-work-and-family-life/19400368/
Multifamily Built-for-Rent Share: 96% According to NAHB analysis of quarterly Census data, the market share of rental units of total multifamily construction starts remained at 96% during the third quarter of 2020… Read More Eye On Housing http://eyeonhousing.org/2020/11/multifamily-built-for-rent-share-96/
Mac Multifamily Requires Tenant Protections on All…
MetroIntelligence Economic Update by P. DUFFY Producer…