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New Housing Data Suggests Market Slowdown is Ending

Pending home sales increased in December for the first time in six months, and new-home sales and mortgage applications are rising.New housing data released this week offers hope that the market slowdown may be short lived. Pending home sales rose 2.5% in December, ending a six-month slide, the National Association of REALTORS® reported Friday. New-home sales also rose 2.3% last month, according to the Commerce Department, and mortgage applicati

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Single-Family Housing Starts Leap 11% as Permits and Completions Fall

Overall housing starts clocked in at a seasonally adjusted annual rate of 1,382,000, 1.4% below levels recorded in November, according to new data released Thursday by the US Census BureauHousing starts, permits and completions all posted declines in December with increased production of single-family homes the lone bright spot for the month, according to data released Thursday by the U.S. Census Bureau.Housing start

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Homebuilder Sentiment Rises in January for the First Time in a Year

Builder sentiment in the single-family housing market posted an unexpected gain in January, rising for the first time in 12 straight months. Economists had predicted a slight decline.Sentiment rose 4 points to 35 on the National Association of Home Builders/Wells Fargo Housing Market Index. Anything below 50 is still considered negative sentiment. The metric stood at 83 in January 2022.“It appears the low point for builder sentiment in this cyc

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Slowdown in Building Permits Worsen Construction Starts

Given the increases in mortgage rates that have transpired, significant slides in homebuilding activity are being taken for granted in the U.S. and Canada. Based on the latest housing starts statistics, this is already underway and clearly apparent in the former more than in the latter. See Graph 8 below, where Canadian housing starts have been moving mostly sideways throughout this year, while U.S. starts have been exhibiting significant decline

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9 Factors Influencing Construction

(1) One indicator with a strong record for reliability concerning the health of the U.S. labor market is the weekly initial jobless claims figure released by the Bureau of Labor Statistics (BLS). A number above 300,000 generally correlates with high unemployment and recession. As the figure descends below 300,000, however, the labor market is tightening. Down around 200,000, the unemployment rate will be about as low as it ever manages to go. Tha

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U.S. Home Builder Gloom Persists, Hope Seen Next Year

Confidence among U.S. single-family home builders fell for a record 12th straight month in December as even a scramble to offer incentives for prospective buyers failed to boost traffic and lift sales in today's high-inflation, high-interest rate environment.Kicking off a week of key reports on the health of the foundering U.S. housing market, the National Association of Home Builders on Monday said its NAHB/Wells Fargo Housing Market Index dropp

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US housing Starts and Permits Fall in November, Completions Surge

Housing starts fell 0.5% below October levels, to a seasonally adjusted rate of 1.43M, while completions rose 10.8% month over month, according to US Census Bureau data issued TuesdayHousing starts and new building permits both posted declines in November while building completions logged a monthly increase during the same period, according to U.S. Census Bureau data released Tuesday.Newly issued building permits dropped 11.2

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5 Reasons this isn’t a Repeat of the 2008 Housing Crash

NAR Chief Economist Lawrence Yun draws the distinctions between today’s real estate market and that of more than a decade ago.Many homeowners are still haunted by the 2008 housing crash when property values collapsed and foreclosures spiked. The memory of sudden catastrophe at a time when the real estate market had been riding high may help explain why 41% of Americans say they now fear a housing crash in the next year, according to a new surve

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Celebrating 10 Years!!!!

It has been a decade! A full 10 years of striving to provide better real estate services and lifestyles for everyone in our grasp. We thank every one of our loyal members and look forward to continuing our relationship on even more prosperous grounds. And we also thank each and every individual that has put their faith into our members and worked with us to get your own dreams fulfilled. With over $300 million in sales in over 1K transactions, sa

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