by Calculated Risk on 8/19/2024 08:12:00 AM Altos reports that active single-family inventory was up 0.8% week-over-week. Inventory is now up 41.4% from the February seasonal bottom. Click on graph for larger image. This inventory graph is courtesy of Altos Research. As of August 16th, inventory was at 698 thousand (7-day average), compared to 693 thousand…
by Calculated Risk on 8/18/2024 06:46:00 PM Weekend:• Schedule for Week of August 18, 2024 Monday:• No major economic releases scheduled. From CNBC: Pre-Market Data and Bloomberg futures S&P 500 are up 6 and DOW futures are up 39 (fair value). Oil prices were up mostly unchanged over the last week with WTI futures at…
by Calculated Risk on 8/18/2024 09:12:00 AM The U.S. hotel industry reported positive comparisons year over year, according to CoStar’s latest data through 10 August. … 4-10 August 2024 (percentage change from comparable week in 2023): • Occupancy: 68.7% (+0.5%)• Average daily rate (ADR): US$159.49 (+1.4%)• Revenue per available room (RevPAR): US$109.51 (+1.9%)emphasis added The…
At the Calculated Risk Real Estate Newsletter this week: Click on graph for larger image. • Housing Starts: Single Family Down Year-15% over-year in July; Multi-Family Down 18% YoY • Part 1: Current State of the Housing Market; Overview for mid-August 2024 • Part 2: Current State of the Housing Market; Overview for mid-August 2024…
by Calculated Risk on 8/17/2024 08:11:00 AM The key reports this week are July New and Existing Home sales. Fed Chair Jerome Powell will speak on the “Economic Outlook” at the Jackson Hole Symposium on Friday. The BLS will release the preliminary employment benchmark revision on Wednesday. —– Monday, August 19th —– No major economic…
by Calculated Risk on 8/16/2024 07:31:00 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 8/16/2024 01:33:00 PM From BofA: We initiated our 3Q US GDP tracker with the July retail sales print. The 3Q GDP tracking estimate went up from our official forecast of 2.5% q/q saar to 2.6% q/q saar. [August 16th update]emphasis added From Goldman: We left our Q3 GDP tracking estimate unchanged…
by Calculated Risk on 8/16/2024 09:28:00 AM Today, in the Calculated Risk Real Estate Newsletter: Housing Starts: Single Family Down Year-15% over-year in July; Multi-Family Down 18% YoY A brief excerpt: Total housing starts in July were below expectations and starts in May and June were revised down. A very weak report. The third graph shows…
by Calculated Risk on 8/16/2024 08:30:00 AM From the Census Bureau: Permits, Starts and Completions Housing Starts:Privately-owned housing starts in July were at a seasonally adjusted annual rate of 1,238,000. This is 6.8 percent below the revised June estimate of 1,329,000 and is 16.0 percent below the July 2023 rate of 1,473,000. Single-family housing starts…
by Calculated Risk on 8/15/2024 07:20:00 PM Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. Thursday:• At 8:30 AM ET, Housing Starts for July. The consensus is for 1.342 million SAAR, down from 1.353 million SAAR in June. • At 10:00 AM, State Employment and Unemployment (Monthly) for July 2024 •…