For those of you that do not Tweet – you should consider doing so. If you want to talk about effective bang for the buck, the 140 total characters, letters, numbers and spaces of a Tweet on Twitter certainly qualifies. Who knew you could say so much in so little?
It reminds me of Mark Twain who wrote, “I would have written you a shorter letter but I didn’t have the time.” You need to pack a lot in a little space.
Twitter followers on DrTCJ now total 1,238 – please tell friends and colleagues.
This is one of the periodic Jones on Real Estate blog postings covering the latest Tweets.
While you may recognize some of the data from my blog postings, there are always items that just get Tweeted. I am always looking for “I did not know that” information.
DrTCJ Tweets August 14 2015 – September 10 2015
July 2015 job openings set a record at 5.75 million, the all-time high since data collection commenced in 2000 – Labor Department
Salisbury, North Caroline had the greatest percentage of foreclosures in total home sales at 23.6% in July 2015 – RealtyTrac
The average US homeowner saw a $19,000 increase in their home equity in the past 12 months – Black Knight
US homeowner equity rose $825 billion in the past 12 months to $7.6 trillion, the greatest seen since 2007 – Black Knight
35.8 million (43%) US homes are at HIGH or VERY HIGH risk of natural hazards (fires, floods hurricanes, earthquakes tornados) – RealtyTrac
Just 0.90% of commercial real estate loans made by banks and thrifts were 90 or more days delinquent in Q2 2015 – MBA
60% of mortgage bankers forecast a continued seller’s housing market in 2016 & 89% believe it will handle a Fall rate hike – Lenders One
In the 35 largest markets, top 3 with the largest percent of underwater homes in Q2 2015 were Las Vegas, Chicago & Atlanta – Zillow
Labor Day 2015 average gasoline prices at $2.58 per gallon are the lowest Labor Weekend level since $1.85 seen in 2004 – AAA
Labor Day 2015 an estimated 35.5 million Americans that traveled more than 50 miles will return home, the most travelers since 2008 – AAA
62% of a “Where To Retire Magazine” survey plan to buy rather than rent in retirement spending an average $263,000 – RealtorMag
83% of subscribers to “Where to a Retire Magazine” would most likely select a single-family dwelling in retirement – RealtorMag
The unemployment rate dropped to 5.1% as of the end of August 2015, the lowest reached since 2008 – Bureau of Labor Statistics
Light weight vehicle sales rose to 17.8 million on an annualized rate in August 2015, up from 17.3 million a year ago – AutoData Corp & WSJ
Crude oil prices rose 27% in the past 3 trading days as US oil production fell from 9.5 million barrels per day to 9.4 – Wall Street Journal
Residential sales and prices increased in all 12 Federal Reserve Bank districts in the latest Beige Book – HousingWire
Credit unions made 8% or 1 out of every 12 loans in the past year – Callahan and Associates
Construction spending, up 13.7% in the past 12 months, is now at the highest level since May 2008 – US Commerce Department
Millennials are forecast to spend $2 trillion in the next 5 years buying homes, 93% of the 75+ million desiring ownership – Mortgage Masters
US home prices, up 6.9% in the 12 months ending July 2015, are forecast to increase 4.7% from July 2015 to July 2016 – CoreLogic
Based on the number of views per active residential listing, hottest August markets were San Fran, Dallas & Denver – http://Realtor.com
For the latest Info on the upcoming FOMC meetings on the Fed Funds Target Rate, read my blog at http://blog.stewart.com/stewart/2015/08/31/where-the-federal-reserve-bank-open-market-committee-members-stand-on-increasing-the-fed-funds-rate/ …
With just 1 in 10 California homes covered by earthquake insurance, the state-run California Earthquake Authority is cutting rates 10% – WSJ
Demand for rentals by 2024 will increase by 5.6 million new renter-occupied households, 3.0 million headed by 60+ year olds – MBA
By 2024: economic & demographic changes could bring most household formations seen in history at 15.9 million new households – MBA study
Condominium sales in July 2015 represented 630,000 of the estimated 5.59 million total existing home sales on a SAAR – NAR
Sales of existing single family homes were up 11.0% from a year ago in July 2015 to a SAAR of 4.96 million – NAR
1st time homebuyers made up just 28% of closings in July 2015 vs a normal 40% in years past – NAR
Foreclosure sales in July 2015 represented 5% of all transactions selling at an average 17% discount to non-distressed homes – NAR
Short sales in July 2015 represented just 2% of all closings and sold at an average 12% discount to non-distressed homes – NAR
43% of existing homes sold in July 2015 were on the market for less than one month – NAR
All cash home sales in July 2015 at 23% were up from 22% in June, but down from 29% a year ago – NAR
Existing home sales months inventory fell to 4.4 months (SAAR) with 6 months considered normal, portending rising prices – NAR
July 2015 median home prices rose 5.4% from a year ago to $234,000, now up 41 consecutive months on a year over year comparison – NAR
July 2015 existing home sales at 5.59 million on a SAAR, were the most seen since Feb 2007, up 10.3% from a year ago – NAR
July 2015 ended with just 1.56 months inventory of single family homes for sale and less than 1 month of condos – Denver RE News
Apartment prices are now 22% greater than the prior peak hit in 2006 – Marcus & Millichap
Developers are forecast to deliver 250,000 new apartments to the market in 2015, up from 232,000 a year ago in 2014 – Marcus & Millichap
Loan originators made an average $1,522 on loans originated in Q2 2015, up from $1,447 in Q1 2015 – Mortgage Bankers Association
A shortage of construction workers has seen their average hourly wage increase 2.6% for the year ending July 2015 vs 2.1% for all US workers
Washington, DC is the most expensive US city to raise a family of 2 children, with day care costing $31,158 yearly – http://www.marketwatch.com/story/10-most-expensive-places-to-raise-a-family-in-the-us-2015-08-26?siteid=nwhpm …
Texas has 6 of the top 10 healthiest housing markets in the US based on analysis of 300 cities using 14 metrics – Wallet Hub
Q2 2015 estimated GDP growth was revised upwards from an annualized 2.3% to 3.7% providing an argument for increasing interest rates – BEA
7 out of 10 Millennials plan to purchase a home in 2018 or later – Trulia
Industrial property values are forecast to be up 4.4% in 2015 vs 2014 as vacancy rates hit a 15-year low at 6.5% – Marcus & Millichap
Rents for industrial properties are forecast to finish 2015 up 5.3% after rising 5.0% in 2014 – Marcus & Millichap
Homeowners with poor credit pay twice as much for insurance on their home than those with stellar credit – New York Times
Homeowners with just fair credit pay an average 32% more for insurance on their home than those with stellar credit – New York Times
Pending home sales index for July 2015 was up 7.4% from a year ago and up 0.5% sequentially from June – NAR
After receiving permits it takes an average 11.7 months to build multi-family units – Census Bureau
After 5 years of year-over-year increases in Texas sales tax collections in June, taxes fell 1.4% June 2015, weak oil prices – FitchRatings
1 out of every 6 with student loans (17%) have gone at least 1 year without making a payment (excluding those not yet required) – WSJ
Months inventory of SFR existing homes fell from 4.7 months in June 2015 to 4.4 months in July, with 6 months considered normal – NAR
Existing home sales up 10.3% YOY in July 2015 to the seasonally adjusted annualized rate of 5.59 million, most since Feb 2007 – NAR
Residential foreclosure inventory in July 2015 was down 24% from a year ago to the lowest level seen in 7 years – Black Knight
Foreclosure filings in July 2015 were up 14% from a year ago and up 7% sequentially from June – RealtyTrac
The core CPI Index (excluding energy and food) rose 1.8% in the past 12 months, but the shelter component is up 3.1% as rents rise
HUD will spend $104.4 million next year on the 25,226 families that live in public housing despite exceeding the income limits – The Hill
1st-time homebuyers are now buying homes that cost 2.6 times their annual income compared to 1.7 times their pay in the 1970s – Zillow
Today just 40% of 1st-time homebuyers are married compared to 52% in the late 1980s – Zillow
The average 1st time homebuyer Almost 33 years old – Millennial $54,340 median income-same as the 1970s inflation adjusted Zillow
1st time homebuyers now renting an average 6 years prior to buying, more than double the average 2.6 years in the 1970s – Zillow
With 21 consecutive quarters of positive net absorption of industrial space, there is now 153 million sq ft under construction – CBRE
86.5 million sq ft of industrial space was absorbed in the 1st half of 2015, up 22%YOY, with national vacancy rate down to 9.8% – DTZ
Ireland residential rents up 8.6% YOY in June 2015 to an average €934 with just 4,600 vacant units nationwide as of Aug 1 2015 – Daft.ie
Undergrads are limited to $57,500 total in federal student loans, graduate students have no limits. 1.82 million have $100,000+ – The Fed
Percent of Job growth from 2010-2014: 44% $53,000 and up 29% $32,000 to $53,000 27% less than $32,000 Georgetown University
All-cash home sales in US at 31.9% in May 2015. Florida topped the list at 47.8%, New York & New Jersey 45.8%, Alabama 44.2% – CoreLogic
For the second month in a row, July 2015 housing starts came in at SAAR of 1.2 million units, up YOY 7.5%, and the most since 2007
While 6 months inventory of homes is considered normal, California dropped to 3.3 months in July 2015 from 3.8 months a year ago – CAR
California July 2015 detached single family median home prices flat sequentially from June were up 5.4% from July 2014 at $489,640 – CAR
July 2015 California home sales, up 12.7% from a year ago, hit the highest level in 3 years & have risen YOY for 6 consecutive months – CAR
Nevada is the most difficult state to find full-time work per a study by 24/7 Wall St. See my blog of this article at http://blog.stewart.com/stewart/2015/08/18/another-bottom-10-list-toughest-states-to-find-full-time-employment/ …
New Jersey has the most distressed mortgages with 10.2% in foreclosure or 90 days or more past due vs 3.95% in the US – Cohn Reznik & MBA
Completed foreclosures in Q2 2015 were just 35.3% of the tally reached at the peak in Q3 2010 – CoreLogic
In 15 years 1 out of 4 Americans in the US will be 50 years old and up, with 70% of those 65 and up eventually needing long-term care – MND
44% of real estate agents called open houses powerful, 56% pointless, yet 72% claimed they hosted 1-6 in prior 6 months – Survey by RISMedia
The top 3 desired renter amenities: 1. Parking 47% 2. In unit washer & dryer 32% 3. On site washer & dryer 29% 4. Dishwasher 19% RadPad
The Cadillac Tax on ObamaCare could impact 50% of employers in 2018 and more than 80% in 2023 – Towers and Watson reported by NAIC
A quick overview of the States with the greatest proven oil reserves can be found at my blog Jones on Real Estate at http://blog.stewart.com/stewart/2015/08/15/another-top-10-list-states-with-greatest-proven-oil-reserves/ …
June 2015 saw US hotel inventory reach a record 5,001,163 rooms across 53,554 properties, an average 93.4 rooms per property – STR
2016 hotel demand is forecast to rise almost 3% while supply grows just 1.2% portending rate & occupancy increases – STR & Tourism Economics
2016 hotel forecast: Occupancy +1.7% to 65.5%, Average Daily Rate +5.1%, Revenue Per Available Room (RevPAR) +6.8% – STR & Tourism Economics
New listings of existing homes in the UK fell 13.2% from June to July 2015, with London dropping 14.9% – House Simple & PropertyWire
Houston single family sales & prices and hit all-time records in July 2015, months inventory increased from 3.0 to 3.4 months YOY – HAR
Houston single family median home prices hit an all-time high in July 2015 at $220,000, up from $202,500 a year ago +8.6% – Houston Realtors
Houston single family home sales hit an all-time record number and price in July 2015, up 6.7% & 8.6%, respectively YOY – Houston Realtors
Class A apartment rents averaged $1,702 monthly in Q2 2015, Class B $1,192 and Class C $845 – Axiometrics & WSJ
While the inventory of high-end apartments rose 31% since 2002, less- expensive apartments (not rent controlled) dropped 1.6% – REIS & WSJ
Class B apartment rents rose 5.8% year-over-year in Q2 2015 vs 4.9% for Class C while Class A increased just 4.2% – Axiometrics & WSJ
Light industrial buildings (100,000 to 300,000 sq ft) had the best rental growth among all properties in the past 12 months at 5.7% – CoStar
Hawaii has the lowest effective property tax rate in the US at 0.28%, Alabama 0.43%, Louisiana 0.51% & Delaware 0.55% – Tax Foundation
New Jersey has the highest effective property tax rate in the US at 2.38%, Illinois 2.32% & New Hampshire 2.15% – Tax Foundation
Better yet, get your own Twitter account and Tweet away — and of course re-tweeting the ones of mine you find interesting.
Want to see all of my tweets or follow? Click https://twitter.com/drtcj
If this 61-year old can Tweet, so can you.
Ted