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Existing Home Sales Down 3.4% in May

Existing Home Sales Down 3.4% in May The National Association of Realtors is reporting that existing home sales were down 3.4% in May to a seasonally-adjusted annual rate of 5.41 million (down 8.6% year over year).  Total housing inventory at the end of May was 1,160,000 units, down 4.1% from one year ago.  Unsold inventory

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Rising Building Material & Freight Prices Push Construction Costs Higher

Rising Building Material & Freight Prices Push Construction Costs Higher The NAHB’s Eye on Housing says the prices of goods used in residential construction increased 19.4%, year-over-year.  Citing data from the Producer Price Index they point out that building materials (i.e., goods inputs to residential construction, less energy) prices have increased 5.4%, year-to-date, and are

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Five Requirements for Identification of Replacement Property in a 1031 Exchange

Five Requirements for Identification of Replacement Property in a 1031 Exchange Today’s graphic from Accruit reminds us that the ability to defer taxes through a 1031 like-kind exchange is a valuable taxpayer benefit, but to receive it, the rules pertaining to identification and acquisition of replacement property must be strictly followed. They have outlined the

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Demand for Construction Appears to be Outpacing Availability of Workers & Materials

Demand for Construction Appears to be Outpacing Availability of Workers & Materials According to recent data from the Associated General Contractors of America, while nearly every state added construction jobs during the past twelve months, that momentum slowed considerably in May with only 22 states adding jobs.  The AGC says monthly employment gains lagged as

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