The U.S.’s Single-Family Housing Market Expected to Rebound Next Year

The U.S.’s Single-Family Housing Market Expected to Rebound Next Year According to the Urban Land Institute, real estate market conditions are expected to rebound in 2021 and in 2022, single-family homes are expected to outperform other sectors of housing. Read More Mansion Global https://www.mansionglobal.com/articles/the-u-s-s-single-family-housing-market-expected-to-rebound-next-year-220738

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10/30: MetroIntelligence Economic Update by P. DUFFY

MetroIntelligence Economic Update by P. DUFFY 3Q20 GDP grew at annual rate of 33.1 percent, recapturing 97.3 percent of pandemic decline Real gross domestic product (GDP) increased at an annual rate of 33.1 percent in the third quarter of 2020, according to the “advance” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP decreased 31.4 percent.  So far the U.S. economy has recaptured 97.3 percent of the GDP level posted in the fourth quarter of 2019, prior to the pandemic. https://www.bea.gov/news/2020/gross-domestic-product-third-quarter-2020-advance-estimate   Initial unemployment claims dip…

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55+ Housing Market Index Reaches All-Time High in Third Quarter

55+ Housing Market Index Reaches All-Time High in Third Quarter Builder confidence in the single-family 55+ housing market reached an all-time high, jumping 18 points to 83 in the third quarter of 2020, according to the National Association of Home Builders (NAHB)… Read More Eye On Housing http://eyeonhousing.org/2020/10/29181/

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New housing community celebrates grand opening

New housing community celebrates grand opening In a partnership between the Wyoming Housing Network and the Mountain Plains Equity Group, a new housing community, Powell Court Apartments, is being developed, offering affordable housing… Read More Powell Tribune https://www.powelltribune.com/stories/new-housing-community-celebrates-grand-opening,27721  

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How the election’s outcome could shape 5 key homebuilding issues

How the election’s outcome could shape 5 key homebuilding issues With the upcoming election set to determine the policies shaping housing’s near future, here’s how the candidates could impact the key roadblocks to a building boom in the U.S… Read More Builder and Developer Magazine https://www.nationalmortgagenews.com/list/how-the-elections-outcome-could-shape-5-key-homebuilding-issues

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10/29: MetroIntelligence Economic Update by P. DUFFY

MetroIntelligence Economic Update by P. DUFFY October consumer confidence slips slightly due to rise in Covid-19 cases and job outlook weakening Consumer confidence declined slightly in October (-0.4 points to 100.9), following a sharp improvement in September. Consumers’ assessment of current conditions improved while expectations declined, driven primarily by a softening in the short-term outlook for jobs. There is little to suggest that consumers foresee the economy gaining momentum in the final months of 2020, especially with COVID-19 cases on the rise and unemployment still high. https://conference-board.org/data/consumerconfidence.cfm   Home purchase loans…

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10/27: MetroIntelligence Economic Update by P. DUFFY

MetroIntelligence Economic Update by P. DUFFY New home sales dip 3.5 percent in September, but up 32.1 percent year-on-year. Sales of new single-family houses in September 2020 were at a seasonally adjusted annual rate of 959,000. Development. This is 3.5 percent below the revised August rate of 994,000, but is 32.1 percent above the September 2019 estimate of 726,000.  Months of supply rebounded to 3.6 months. https://www.census.gov/construction/nrs/pdf/newressales.pdf   U.S. economy continues to expand in October, especially for service businesses The IHS Markit Flash U.S. Composite PMI Output Index posted 55.5…

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Beverly project to receive funds supporting new affordable housing development

Beverly project to receive funds supporting new affordable housing development Gov. Charlie Baker highlighted a project in Beverly during the 2020 Affordable Rental Housing Awards; the award show resulted in the development of more than 2,400 affordable housing units… Read More Metro West Daily News https://www.metrowestdailynews.com/news/20201025/beverly-project-to-receive-funds-supporting-new-affordable-housing-development

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