Increased spending, job growth, and the re-opening of the economy supported strong CRE performance in 2Q. Apartments saw one of the strongest quarters…
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Unemployment steadily tightens. Job creation surpassed 900,000 new positions for the second consecutive month in July, lowering the unemployment rate 50 basis points month over month to 5.4 percent. While above the historically low 3.5 percent unemployment recorded just prior to the pandemic, the measure is still below…
Read MoreGrowth remains steady. In the second quarter, the economy expanded 6.5 percent on an annualized basis. Gains would have been larger but supply-chain challenges and labor shortage hamstrung improvement. Those issues should be transitory, however…
Read MoreListings of newly built homes prop up for-sale inventory. The number of single-family houses available for purchase grew by 3.8 percent from May to June, a change of tides after listings steadily declined during the pandemic. Specifically, the number of new homes for sale increased at the fastest pace…
Read MoreThe start of the academic year will unlock employment growth potential as nearly 2 million workers sidelined by child-care challenges are able to return…
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While 2Q21 GDP was lower than expected, it still represents the strongest quarter, besides 3Q20, since 2003. 2021 is poised to be the biggest year of growth since 1984.
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With the last of the nation’s capacity limits schedule to lift in the next several weeks, the economy is on its way to recovery but still faces distinct headwinds. Potential sellers and buyers should consider the unique and likely fleeting window that the current market situation presents.
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Skyrocketing single family home prices are due in part to COVID-19 and historically low interest rates, but unlike housing bubbles of the past, also reflect shifting demographic demands and an overall shortage of housing options. What does this tell us about long-term demand and performance?
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