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 •…
by Calculated Risk on 8/15/2024 04:30:00 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 July, 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 8/15/2024 12:57:00 PM Today, in the Calculated Risk Real Estate Newsletter: MBA: Mortgage Delinquencies Increased in Q2 2024 A brief excerpt: From the MBA: Mortgage Delinquencies Increase in the Second Quarter of 2024 The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.97…