Category Archives: Jones on Real Estate

State Employment Changes October 2017

Jobs are everything to an economy.   Period. So goes the number of jobs, so goes (in general) the demand for housing, commercial real estate and the overall performance of the economy.  Naturally other factors such as taxes (or the lack-thereof), location, natural resources and external factors alter all of this, but the ultimate measure is …Read more

October 2017 Existing Home Sales Rebound from Hurricane Slump, Up 2.0 Percent Sequentially from Prior Month, (Seasonally Annualized), But Down 0.9 Percent Year-Over-Year

Existing home sales sprang back in October 2017, rising 2.0 percent (on a seasonally adjusted annualized rate) from the downward trend in September arising from Hurricane Harvey and Irma impacts, but remained off slightly (down 0.9 percent) from a year ago according to the National Association of Realtors® (NAR).  Median price was $247,000 (not seasonally …Read more

State Business Tax Environment 2018 — Tax Foundation

This annual blog begins as it was ended last year:  Just as words have meaning, taxes have economic ramifications.    Each state varies in one form or another in how they fund state government and also in how much government they fund.  Big government requires big funding, and vice-versa.  As usual, I invoke the TINSTAANREM axiom …Read more

Residential Purchase and Refinance Lending Volume Forecast Update — October 2017

As we economists say, “forecasting is difficult, especially the future.”   Fortunately, Fannie Mae, Freddie Mac and the MBA update their quarterly and annual forecasts monthly for residential lending volumes –  both refinance and purchase transactions.  The forecasts typically span a three-year period, currently from 2016 to 2018.  The lagging year (2016 at this time) often …Read more

Existing Home Sales Dip 1.6 Percent Year-Over-Year in September 2017, But Surprisingly Rose 0.7 Percent from August

Given the Hurricanes Harvey and Irma, consensus was for declining existing home sales year-over-year and sequentially from August.  While sales dipped 1.6 percent in September 2017 versus a year ago, sales edged up slightly (0.7 percent) from August according to the National Association of Realtors® (NAR) to a 5.39 million seasonally adjusted annualized rate (SAAR).  …Read more

Another Top-10 List — Where Millennials Are Moving

The housing market is a function of the interaction of supply and demand.  Since 2016, Millennials make up the largest homebuyer demographic in the U.S. even though they, as a group, are not yet into the age that has the greatest demand.  Those aged 31 are the most common first-time homebuyers while the highest age …Read more