At the Calculated Risk Real Estate Newsletter this week: Click on graph for larger image. • 1st Look at Local Housing Markets in July Early Reports Suggest New Cycle Low for NAR reported Sales in July • ICE Mortgage Monitor: Existing Home Inventory Surges in Florida and Texas • How Much will the Fannie &…
by Calculated Risk on 8/10/2024 08:11:00 AM The key reports this week are July CPI, Retail Sales and Housing Starts. For manufacturing, the Industrial Production report will be released. —– Monday, August 12th —– No major economic releases scheduled. —– Tuesday, August 13th —– 6:00 AM ET: NFIB Small Business Optimism Index for July. 8:30…
by Calculated Risk on 8/09/2024 07:35:00 PM Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. For deaths, I’m currently using 4 weeks ago for “now”, since the most recent three weeks will be revised significantly. Note: “Effective May 1, 2024, hospitals are no longer required to report COVID-19 hospital admissions, hospital…
by Calculated Risk on 8/09/2024 02:01:00 PM Here is another monthly update on lumber prices. SPECIAL NOTE: The CME group discontinued the Random Length Lumber Futures contract on May 16, 2023. I switched to a physically-delivered Lumber Futures contract that was started in August 2022. Unfortunately, this impacts long term price comparisons since the new…
From BofA: Next week, we will launch our 3Q GDP tracker with the July retail sales print. [August 9th update]emphasis added From Goldman: We left our Q3 GDP tracking estimate unchanged at 2.6% (quarter-over-quarter annualized) and our Q3 domestic final sales forecast unchanged at +2.0%. [August 6th estimate] And from the Altanta Fed: GDPNow The…
by Calculated Risk on 8/09/2024 08:21:00 AM The U.S. hotel industry reported slightly positive comparisons year over year, according to CoStar’s latest data through 3 August. … 28 July through 3 August 2024 (percentage change from comparable week in 2023): • Occupancy: 69.4% (+0.8%)• Average daily rate (ADR): US$159.63 (+0.6%)• Revenue per available room (RevPAR):…
by Calculated Risk on 8/08/2024 03:21:00 PM From Dodge Data Analytics: Dodge Momentum Index Expands Another 8% in July The Dodge Momentum Index (DMI), issued by Dodge Construction Network, increased 7.9% in July to 216.3 (2000=100) from the revised June reading of 200.5. Over the month, commercial planning increased 6.8% and institutional planning expanded 11.1%….
by Calculated Risk on 8/08/2024 01:32:00 PM What this means: On a weekly basis, Realtor.com reports the year-over-year change in active inventory and new listings. On a monthly basis, they report total inventory. For June, Realtor.com reported inventory was up 36.6% YoY, but still down 30.6% compared to April 2017 to 2019 levels. Now –…
by Calculated Risk on 8/08/2024 10:53:00 AM Today, in the Calculated Risk Real Estate Newsletter: Atlanta Fed: Home Ownership Affordability Monitor A brief excerpt: Here is another measure of affordability that readers might find useful from the Atlanta Fed: Home Ownership Affordability Monitor Here is a graph of affordability (higher is more affordable), and of…
by Calculated Risk on 8/08/2024 08:30:00 AM The DOL reported: In the week ending August 3, the advance figure for seasonally adjusted initial claims was 233,000, a decrease of 17,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 249,000 to 250,000. The 4-week moving average was 240,750,…