Fed’s Supersized Rate Hike, Mortgage Rate Sticker Shock, and the Home Equity Bonanza On a recent episode of Real Estate News for Investors, Kathy Fettke discusses the Fed’s biggest rate hike in three decades, mortgage rate sticker shock, inflation hitting an annual rate of 8.6%, and the home equity bonanza. Click here to listen on
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
Local Market Monitor’s National Economic Outlook for June ’22 Local Market Monitor, a National REIA preferred vendor, recently released their monthly National Economic Outlook where they share their thoughts on developments taking place in the U.S. economy. National Economic Outlook By Ingo Winzer June, 2022 There’s good news and bad news. On the one hand,
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
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
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
