This monthly analysis of jobs differs from previous versions that included both Metropolitan Statistical Areas (MSAs) and Metropolitan Divisions (which are subsets of the MSAs). Only the MSA level data are included in this blog. Data are based on seasonally adjusted monthly employment from the Bureau of Labor Statistics (BLS). Jobs peaked in the U.S. …Read more
In this day and age of mathematical precision and faster-than-light calculation speeds, answering the question as to existing home sales numbers and direction almost makes one stutter. The following bullets summarize November existing home sales statistics. Pick a number — pick any number — and what you saying is probably correct. Each of these data …Read more
While a rising tide may lift all boats, the same is not true for a good economy bolstering all the local markets across the country. Good news is that U.S. median household income rose by 0.8 percent in 2018 to $61,937 and the poverty rate fell from 13.4 percent of all households to 13.1 percent. …Read more
Location-Location-Location is the phrase when it comes to real estate. In a global market, being in the proper location can be a make-or-break proposition. Where a firm offices is akin to a hallmark to customers. Location in an office market is a statement of who their customers are (or customers they want), the type of …Read more
Getting a bigger piece of pie is always easier when the next pie is even larger than the prior. The same is true when it comes to growing demand for goods, services and real estate. More jobs and, to some extent also population (but not as important as jobs) are key metrics for economic growth. …Read more
When it comes to economic performance, there is no better measure than the creation of net-new jobs. Jobs are everything to an economy. Period. Job growth, however, is not systemic across the country by state, Metropolitan Statistical Area (MSA) or Division. Just like states, variability in job growth exists across all MSAs and Divisions at …Read more
New single family residential (SFR) home sales of 629,000 on seasonally adjusted annualized rate (SAAR) were up 12.7 percent versus a year ago and up 3.5 percent sequentially from July. Year-to-date new home sales (not seasonally adjusted) of 448,000 units were up 6.9 percent compared to the same period a year ago. There were …Read more
Real estate technologists from around the world recently gathered at the day-long Hacker Connect session that kicked off the week-long Inman Connect conference. While there were dozens of speakers on topics ranging from home search to transaction closing over a (very) full-day, these were my main takeaways.
My last blog covered the much-buzzed about “Bitcoin”; today’s blog will deal with something that has slightly less buzz – the Blockchain.
For me this is the most timely read this quarter regarding Commercial Real Estate — Dr. Glenn Mueller’s Real Estate Cycles Q4 2017 report from Black Creek Group – Black Creek Research. The report contains a critical mass of valuable data spanning major commercial real estate markets across the country. It is based on almost …Read more