Latest Unemployment Report: Great News…for the Most Part

Latest Unemployment Report: Great News…for the Most Part

The Bureau of Labor Statistics (BLS) released their latest Employment Situation Summary last Thursday, and it again beat analysts’ expectations in a big way. The consensus was for 3,074,000 jobs to be added in June. The report revealed that 4,800,000 jobs were added. The unemployment rate fell to 11.1% from 13.3% last month. Again, excellent news as the unemployment rate fell for the … Read More

Is the Health Crisis Driving Buyers Out of Urban Areas?

Is the Health Crisis Driving Buyers Out of Urban Areas?

The pandemic has caused consumers to re-examine the components that make up the “perfect home.” Many families are no longer comfortable with the locations and layouts of their existing homes. The allure of city life (more congested) seems to be giving way to either suburban or rural life (less congested). The fascination with an open floor plan seems to be … Read More

A Historic Rebound for the Housing Market

A Historic Rebound for the Housing Market

Pending Home Sales increased by 44.3% in May, registering the highest month-over-month gain in the index since the National Association of Realtors (NAR) started tracking this metric in January 2001. So, what exactly are pending home sales, and why is this rebound so important? According to NAR, the Pending Home Sales Index (PHS) is: “A leading indicator of housing activity, measures housing contract activity, and … Read More

What Are Experts Saying About the Rest of 2020?

What Are Experts Saying About the Rest of 2020?

One of the biggest questions on everyone’s minds these days is: What’s going to happen to the housing market in the second half of the year? Based on recent data on the economy, unemployment, real estate, and more, many economists are revising their forecasts for the remainder of 2020 – and the outlook is extremely encouraging. Here’s a look at what some … Read More

New Index Reveals Impact of COVID-19 on Real Estate

New Index Reveals Impact of COVID-19 on Real Estate

Earlier this month, realtor.com announced the release of their initial Housing Recovery Index, a weekly guide showing how the pandemic has impacted the residential real estate market. The index leverages a weighted average of four key components of the housing industry, tracking each of the following: Housing Demand – Growth in online search activity Home Price – Growth in asking prices Housing Supply – Growth of … Read More

Should We Be Looking at Unemployment Numbers Differently?

Should We Be Looking at Unemployment Numbers Differently?

The New York Times recently ran an article regarding unemployment titled: Don’t Cheer Too Soon. Keep an Eye on the Core Jobless Rate. The piece suggests we should look at unemployment numbers somewhat differently. The author of the article, Jed Kolko, is a well-respected economist who is currently the Chief Economist at Indeed, the world’s largest online jobs site. Previously, he was Chief Economist and VP of Analytics at Trulia, the online real … Read More

What Are the Experts Saying About Future Home Prices?

What Are the Experts Saying About Future Home Prices?

A worldwide pandemic and an economic recession have had a tremendous effect on the nation. The uncertainty brought about by both has made predicting consumer behavior nearly impossible. For that reason, forecasting home prices has become extremely difficult. Normally, there’s a simple formula to determine the future price of any item: calculate the supply of that item in ratio to … Read More

Is the Economic Recovery Already Underway?

Is the Economic Recovery Already Underway?

The Wall Street Journal just released their latest monthly Survey of Economists. In an article on the findings, they reported: “The U.S. economy will be in recovery by the third quarter of this year, economists said in a survey that also concluded the labor market will fare better than previously expected following the effects of the coronavirus pandemic.” Clearly, the latest jobs report from the U.S. Bureau of … Read More