Unexpected Gain for New Home Sales in November

Data for November indicated a surprise gain for the seasonably adjusted annual rate of new single-family home sales. The data was delayed due to the partial government shutdown. Survey data, including builder confidence, suggest December estimates, when published, will show market weakness however. Contracts for new, single-family home sales increased almost 17% to a 657,000 seasonally adjusted annual rate according to... Read More ›

2018 new home sales end weaker

CNBC's Diana Olick provides some color to the new home sales numbers in 2018.

FHFA names new chief of staff

The Federal Housing Finance Agency has named John Roscoe its new chief of Staff. Roscoe worked previously at the Ohio Treasurer’s Office and on the presidential campaigns for Mitt Romney and President Donald Trump.

Student Loans Crowding Out Home Purchases

Student and auto loans have historically dominated non-mortgage, non-revolving credit, as seen in the Federal Reserve’s G.19 Consumer Credit report. As of the third quarter of 2018, student loan debt totaled $1.6 trillion.  As student-loan debt has historically made up the majority of non-mortgage, non-revolving credit, homeownership is the opportunity cost for its accumulation. In January 2019, as part of its... Read More ›

55+ Housing Market Ends Fourth Quarter on a Positive Note

The National Association of Home Builders’ 55+ single-family housing market index rose 6 points to 66 in the fourth quarter of 2018, returning to levels seen in the first half of the year (Figure 1). A reading at or above 50 indicates that more builders view conditions as good than poor. The 55+ HMI consists of two indices: one for... Read More ›

No softening in Hong Kong’s luxury real estate: Hang Lung Properties

Ronnie Chan of Hang Lung Properties says consumers of luxury goods in Greater China appear to be marching on despite U.S.-China trade concerns, and his company is benefiting from the trend.

Are mixed-use projects the right path forward for the Twin Cities?

… develop the site. The Minnesota Vikings moved their training … Minnesota Vikings and the Twin Cities Orthopedics medical office building. Construction … the Sons of Norway. Construction is underway on a … a half years to construct. After city planners initially …

Fed Pursues Patience

As expected, the Federal Reserve’s monetary policy body, the Federal Open Market Committee, unanimously agreed to hold steady the federal funds top rate at 2.5%. The Fed’s January statement was consistent with recent policymakers comments suggesting a more flexible stance toward monetary policy at the end of last year and the start of 2019. In particular, the statement indicated that... Read More ›

Southern California home sales plunge 20% in December to the lowest pace in 11 years

The housing pain persists in Southern California, as higher costs weigh heavily on potential buyers. Home sales in the region fell 20.3 percent year over year in December, according to CoreLogic. That is the lowest December sales pace since 2007.