Category Archives for "Real Estate Trends"

“Exploring the Unexpected Drop in Pending Home Sales: An Insight into December 2021 Real Estate Market”

Home sales agreements saw an unexpected increase last month, significantly surpassing the predictions made by experts. The Pending Home Sales Index (PHSI), a tool used by the National Association of Realtors┬«, observed an 8.3 percent rise compared to November, with the December PHSI reaching 77.3, an increase of 1.3 percent from the previous year. The PHSI, which considers agreements for single-family homes, townhouses, condos, and co-op apartments, serves as an early indicator for prospective home sales in the upcoming months. The report for existing home sales in January will be released on February 22. Surveyed experts from Econoday had predicted the PHSI would see a 1.3 percent rise, following its lack of change from October to November, and predictions ranged from a 0.7 to a 3.9 percent increase. Trading Economics’ consensus prediction was closer, at 1.5 percent. 2020 starts strong for the housing market, according to chief economist Lawrence Yun. With the decrease in mortgage rates and stabilization of property prices, he anticipates job and income growth will bolster housing affordability, but highlights the need for an increased supply to meet all potential demand. With the exception of the Northeast, most regions had positive returns. The Northeast PHSI dropped 3.0 percent to 62.3, an annual fall of 3.9 percent. The Midwest saw a rise of 5.6 percent, reaching 80.5, marking a 4.3 percent increase from the same time the previous year.

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“Exploring the Unexpected Jump in December’s New Home Sales: An In-depth Analysis”

The close of 2023 saw an encouraging surge in new home sales, with figures exceeding those of both the previous November and December. Reports from the U.S. Census Bureau and the Department of Housing and Urban Development reveal an annual rate of 664,000 units for newly built homes sold during December. Furthermore, the sales rate for November was revised upwards, from 590,000 to 615,000 units. The figures for December constituted an 8.0 percent increment from the revised November statistics and a 4.4 percent gain compared to December 2022. These strong results surpassed the Econoday analysts’ consensus forecast of 650,000.

Despite these promising sales, there was a slight decrease in new home prices compared to the previous year. The median sales price for homes sold in December 2023 was $413,200, a reduction from $432,100 in the prior year. Additionally, the average price dipped slightly, from $495,600 to $487,300.

On an unadjusted basis, the estimated home sales for the last month of 2023 were 50,000 units, an increase from the 42,000 units sold in November. Throughout 2023, total home sales hit 668,000 units, showing a 4.2 percent rise from the 641,000 units sold in 2022.

By the end of 2023, there were approximately 453,000 new homes reportedly available for purchase, estimated to last for roughly 8.2 months given the current sales tempo. Interestingly, this inventory is remarkably close to the estimated stockpile in December 2022.

Regionally, the northeast experienced a robust 32.0 percent increase in sales from November, although it was the only region with a yearly decrease of 2.9 percent. The Midwest showed similar strength, with sales augmenting by 9.2 percent and 6.0 percent over the last two periods. The South continued the trend with increases of 10.6 percent and 3.7 percent, while the West saw marginal gains of 0.9 percent month-over-month and 0.4 percent annually.

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“Revolutionizing Loyalty Programs: An In-depth Look into Bilt Rewards – The First Neighborhood Loyalty Platform”

Bilt Rewards, led by founder and CEO Ankur Jain, and chaired by Ken Chenault, who also serves as the chairman and managing director of General Catalyst, have been conducting comprehensive discussions about their unique rewards scheme. This innovative program permits users to amass points through rent payments, courtesy of Bilt’s strategic collaborations with property owners. The conversation covers an expansive range of topics associated with the company.

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