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?
More important perhaps, is that Millennials (Social Media Core Users) are not only the largest population cohort ever seen in the U.S., but also as of 2016 the largest home buying segment. Join in or check out.
Tweeting 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 2,324 – 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.
I apologize for the length of this blog and will target in the future to do the Tweet’s Blog every two weeks.
DrTCJ’s Tweets April 29, 2016 Through June 23, 2016
Each 1,000 newly-built Single Family homes generates 2,975 jobs and $111.0 million in fees & taxes for all levels of government – NAHB
Each 1,000 newly-built average apartments generates 1,133 jobs and $42.4 million in fees & taxes for all levels of government – NAHB
The number of US hotel rooms under construction (164,869) is up 27.3% year-over-year – STR
In 2005, 1 in 4 loan applicants (25%) had a FICO score of 640 or less, buy just 5% of applicants in 2015 – CoreLogic
FICO Scores on Loans Closed May 2016 754 Conventional 686 FHA 707 VA 695 Average American FICO Score Ellie Mae
Quality new-home lot availability is at an all-time record low with 64% of builders responding Low or Very Low for lot inventory – NAHB
67% of Millennials (18-34) are motivated to improve their credit scores by desire to buy a home, Gen Xers 53%, Boomers 52% – Chase- Slate
Millennial-headed households are expected to rise by 2 million households per year for the next 10 years – Harvard Joint Center for Housing
Buying the median-priced home in Q2 2016 required an average 35.4% of the average wage in the most populous 417 counties – RealtyTrac
38% of active residential loans in the US have interest rates greater than 4.5% and would benefit from refinancing – CoreLogic
US inflation adjusted apartment rents rose by 65% from 1960 to date with rents increasing from $568 to $934, income up 18% – Apartment List
US May 2016 commercial property transaction volume fell 36% YOY to $28.6 billion driven by a 56% mega deal drop – Real Capital Analytics
Top June Housing Markets Per Online Listing Views and Fastest Moving Inventories 1 Vallejo 2 San Francisco 3 Dallas Realtor Magazine
1st time homebuyers made up just 3 in every 10 closings in May 2016, off from 32% in April and short the 40% level a decade ago – NAR
All cash transactions were seen in 1 out of every 5 May 2016 residential closings (22%) – National Association of Realtors
Investors accounted for 13% of all homebuyers in May 2016 and paid all cash 63% of the time – NAR
May 2016 existing home sale closings were on the market just 32 days — the shortest ever recorded by the National Association of Realtors
US Median existing home prices hit an all-time record high of $228,900 in May 2016, up 4.5% from a year ago – NAR
US Median Existing Home Price Up Each and Every Month YTD May 016 National Association of Realtors @nardotrealtor
Us Existing Home Sales Up Each and Every Month in 2016 vs 2015 National Association of Realtors
US Existing Home Sales YTD Through May 2016 National Association of Realtors @nardotrealtor
In 2015, median monthly rent averaged $1,381 which requires at least $55,000 in income to afford, yet renters on average earned $34,000
Foreclosed residential inventory plunged 29% in May 2016 vs a year ago to the lowest level recorded since summer 2007 – Black Knight
21.3 million American renters pay30% & up of their income to rent, with 11 million in 2014 spending at least 50% – Harvard Joint Center
May 2016 existing homes sales were up 4.5% from a year ago, now at 5.53 million SAAR, the most since February 2007 – NAR
8 out of 10 respondents (78%) expect 1st homebuyers to continue at the same level (47%) or increase at least 3% (31%) – Genworth at MBA
Why the US cities grew and are growing: in 1900 40% of Americans lived on farms or ranches, today just 2% do – The Economist
The top 10% of teachers “impart more than three times as much learning as the worst 10% do” – The Economist
Year-to-date California housing sales through May are down 3.8% from a year ago due to lack of lower-priced affordable homes – PropertyRadar
Before the housing bubble, distressed sales made up less than 2% of all housing transactions, should sink to that level by 2018 – CoreLogic
US GDP, which was 0.5% on an estimated annualized basis in Q1 2016, is forecast to hit 2.8% annualized in Q2 2016 – Atlanta Fed
More than 50% of US renters today are classified as Cost-Burdened (paying more than 30% of gross income for rent) up from 24% in 1960 – AP
The CFPB this year (fiscal 2016 ending September 30) has budgeted 2.5% of total spending to ads – 2nd most of any government agency – WSJ
Talk about inflation, low cost healthcare plans under Obamacare are expected to increase 11% next year – Kaiser Family Foundation
Single family rental housing makes up 13% of all occupied housing units and 37% of the total rental market – National Rental Home Council
May 2016 retail sales rose 0.5% with total retail sales up 2.5% in the prior 12 months, and if gas is excluded, up 3.7% – MarketWatch
Residential foreclosures fell 15.8% in April 2016 vs a year ago, just 1.1% of all homes with a mortgage in foreclosure inventory – CoreLogic
US banks received $2.7 billion in overdraft fees in Q1 2016, up 6 percent from a year ago
US Consumers surveyed by the New York Fed in May 2016 anticipate home prices to rise 3.2% in the coming year, up from 3.1% a month ago
Hottest Housing Markets in 2016 Based on Redfin’s Hot Homes Algorithm Denver, Colorado Seattle, Washington Portland, Oregon HousingWire
2016 1st Time Homebuyers 32% of all transactions $77,500 combined income 31 years old 70% Millennials $170,000 median price 5% down NAR
50% of non-homeowners paying their student debt on time said the debt will delay a home purchase by more than 5 years – NAR & SALT
71% of non-homeowners paying their student debt on time said their debt is hindering purchasing a home – NAR & SALT
1 out of 4 homeowners (76%) 56 and up are confident that they will have a comfortable retirement and 63% want to age in place — Freddie Mac
MetLife recommends that retail property landlords turn to dining & entertainment to counter Millennial e-commerce
Residential Loan Origination Volumes and Profits Source: MBA http://www.mba.org/performancereport …
Average Loan Balance for 1st Mortgage Originations Q1 2016 $237,419 Q1 2015 $238,481 MBA
Average Profits Per Loan in Basis Points (bp) 33 bp Q1 2016 22 bp Q4 2015 60 bp Q1 2015 MBA
Independent mortgage bankers & bank mortgage subsidiaries report a $825 profit per loan originated in Q1 2016, up from $493 in Q4 2015 – MBA
April 2016 US home values were 7.9% below the all-time peak reached in April 2006,including distressed sales – CoreLogic
Home Price Change – 12-Months Ending April 2016 – Excludes Distressed Sales
Home Value Price Change – 12 Months Ending April 2016 – Includes Distressed Sales
April 2016 home prices were up 6.2% year-over-year and are forecast to increase 5.3% in the 12-months ending April 2017 – CoreLogic
31% of prospective homebuyers expect to pay less than $150K & 15% less than $100K, but just 6% of new homes were priced below $150K – NAHB
Coastal Home Storm Surge Potential Loses $ Billions $535 Florida $184 Louisiana $177 New York $140 New Jersey $91 Texas CoreLogic
US coastal homes at risk from storm surge losses totals 6.8 million properties with a total loss exposure of $1.5 trillion – CoreLogic
32% of FICO scoreable Millennials (18-34) have a FICO score less than 600 and 10% have no credit score at all – FICO
33% of Millennial survey respondents (18-34) want to buy a home next year but 43% have a subprime credit score – TransUnion via HousingWire
There are now no states where a person can work 40 hours per week at minimum wage and afford a 1-bedroom apartment at average rent – NLIHC
Noncurrent Loan Rates 90 Days or More Past Due Q1 2016 2.3% Real Estate 1.2% Credit Cards 1.2% Commercial & Industrial FDIC
Home Purchase Mortgage Origination 2014 47% Independent Mortgage Co 40% Bank 7% Affiliated Mortgage Co 6% Credit Union Federal Reserve
From 2007 to the trough, US household wealth plummeted $12+ trillion (T) to $55 T, but has since gained back $33 T – Federal Reserve via WSJ
6 out of 10 (61%) of the 1 bedroom apartments in San Francisco rent for $3,000 or more per month, up 6.1% from a year ago – Trulia
Location, Location, Location – 330 million people live within a 3 hour drive of the soon to open Shanghai Disney Resort – MarketWatch
Baby Boomers control almost 66% of all housing equity in the US, with 40% still planning to buy a home – Freddie Mac vis HousingWire
US household net worth rose 1% in Q1 2016, with home values up $498 billion but their stock down $160 billion – Federal Reserve
12.7% of all US homeowners had negative equity in Q1 2016, down from a peak 31.4% in Q1 2012 – Zillow Negative Equity Report via RISMedia
Annual Yields Since 2000 12% REITS 7.9% High Yield Bonds 4.1% Large Cap US Stocks JP Morgan Asset Management via Wall Street Journal
While more than 20% of Americans moved to a different home in 1948, just 11% did so in 2015 – US Census Bureau via New York Post
1.4 million students tracked leaving for-profit colleges in the 24 months ending Sep 2008, 70% dropped out and earned less than before – WSJ
Credit unions increased their residential 1st-mortgage loans outstanding by 10.4% in Q1 2016 on a YOY basis – NCUA
Goldman Sachs received 250,000+ MBA & Undergrad applications for entry-level positions for summer 2016, up 40% YOY – Financial Times
Houston has 45,000 vacant new class A apartments either finished or in the pipeline, occupancy mid-80% range -Greater Houston Partnership
Almost 1 in 4 Households earning $100,000 to $150,000 per year could not come up with an unexpected $2,000 expense in 30 days – Brookings
Economist consensus was for 160,000 new jobs in May, but a minuscule 38,000 were created, and the unemployment rate dropped to 4.7% – BLS
Just 37% of adult Americans have savings to cover a $500 car repair bill or a $1,000 emergency room bill visit – http://Bankrate.com .
Saudi Arabia is changing business strategy: in the early 1990s they had more than 25% of global proven oil reserves , 2014 just 15.7% – WSJ
Saudi Arabia has 11 Million People Employed 6 Million Non-Saudis 4 Million Saudi Men 1 Million Saudi Women United Nations via WSJ
Fed Funds rate was near zero for 7 years, then increased in Dec 2015 to 0.25-0.50%, most Fed officials expect two 0.25% raises in 2016 – WSJ
6.6% of all single family and condo sales in Q1 2016 were flips, up 3% YOY and 20% from the prior quarter – RealtyTrac
Q1 2016 industrial vacancy down 10 basis points to 5.6%, lowest since 2002. Absorption was 60.9 million sq ft & new delivery 40.7 – CBRE
US median list price zoomed to the highest ever recorded by http://Realtor.com , now $250,000 as of May 2016, up 9% from a year ago
Nonfarm payroll employment was up in 327 of the 387 Metropolitan Statistical Areas for the 12 months ending April 2016, down in 54, flat in 6
US retail sales jumped up 1.0% in April 2016, the largest gain in almost 7 years, driven by auto & truck sales & higher gas prices
Consumer Complaints to the CFPB in April 2016 30.7% Debt Collection 19.2% Credit Reporting 18.2%. Mortgages CFPB via HousingWire
US home price increase per S&P Dow Jones Case Shiller Indices was up 5.4% year-over-year as of January 2016 – twice the rate of inflation
In addition to using mobile devices for banking, 63% of Millennials use branch banks, as do 68% of Gen X and 69% of Boomers – Wells Fargo
Approximately 72% of Millennials (aged 18 to 34) use their mobile devices for banking, as do 50% of Gen X and 19% of Boomers – Wells Fargo
US home prices are up 29% from the trough notched in January 2012, and at $257,000 just 3.8% off the June 2006 peak – Black Knight
Brownsville-Harlingen, Texas Home Sales — Real Estate Center at Texas A&M University https://www.recenter.tamu.edu/data/housing-activity/#!/activity/MSA/Brownsville-Harlingen …
McAllen-Edinburg-Mission, Texas Home Sales https://www.recenter.tamu.edu/data/housing-activity/#!/activity/MSA/McAllen-Edinburg-Mission …
Corpus Christi, Texas Home Sales – Real Estate Center at Texas A&M University https://www.recenter.tamu.edu/data/housing-activity/#!/activity/MSA/Corpus_Christi …
Beaumont-Port Arthur, Texas Home Sales – Real Estate Center at Texas A&M University https://www.recenter.tamu.edu/data/housing-activity/#!/activity/MSA/Beaumont-Port_Arthur …
Amarillo, Texas Home Sales – Real Estate Center at Texas A&M University https://www.recenter.tamu.edu/data/housing-activity/#!/activity/MSA/Amarillo …
Odessa, Texas Home Sales – Real Estate Center at Texas A&M University https://www.recenter.tamu.edu/data/housing-activity/#!/activity/MSA/Odessa …
Midland, Texas Home Sales – Real Estate Center at Texas A&M University https://www.recenter.tamu.edu/data/housing-activity/#!/activity/MSA/Midland …
El Paso Housing Sales – Real Estate Center at Texas A&M University https://www.recenter.tamu.edu/data/housing-activity/#!/activity/MSA/El_Paso …
San Antonio-New Braunfels Home Sales – Real Estate Center at Texas A&M University https://www.recenter.tamu.edu/data/housing-activity/#!/activity/MSA/San_Antonio-New_Braunfels …
Dallas-Ft Worth-Arlington Home Sales – Real Estate Center at Texas A&M University https://www.recenter.tamu.edu/data/housing-activity/#!/activity/MSA/Dallas-Fort_Worth-Arlington …
Austin-Round Rock Home Sales – Real Estate Center at Texas A&M University https://www.recenter.tamu.edu/data/housing-activity/#!/activity/MSA/Austin-Round_Rock …
The California Pending Home sales Index (newly signed contracts) rose 4.1% from a year ago in April 2016, the best increase YTD – CAR
California single-family detached home sales dropped 5.4% year-over-year in April 2016, but median price rose 5.1% to $509,100 – CAR
Texas Home Sales — April 2016 and Year-to-Date https://www.recenter.tamu.edu/data/housing-activity/#!/activity/State/Texas … Real Estate Center at Texas A&M
Q1 2016 GDP was revised upwards from preliminary 0.5% to 0.8% vs 1.4% Q4 2015, still the weakest growth since Q1 2015 – Commerce Department
U.S. 10-Year Tornado Activity
2016 US Hurricane and Tropical Storm Forecast
NAR is now forecasting 5.4 million existing home sales in 2016, the most since 2006, while my model indicates 5.46 million – Ted C. Jones
Florida April 2016 Housing Sales http://www.floridarealtors.org/ResearchAndStatistics/Florida-Market-Reports/Index.cfm …
Household debt service payments as a percent of take home pay are now at the lowest level since prior to 1980 due to low rates – WSJ
At the current pace, US household debt will match the Q2 2008 peak by the end of 2016, but student loans are now double at 10% – WSJ
Just 10 – 25% of new residential mortgage professionals that entered the business in the past 20 years remained longer than 2 years – XINNIX
Top Five Reasons a Home is Underwater Today – @RealtyTrac Infographic http://www.housingwire.com/articles/37119-here-are-the-top-5-reasons-some-homeowners-are-still-underwater-infographic?eid=311692759&bid=1415843 …
Where Homebuyers (Primary Dwelling) Found The Home Purchased in 2015
One out of every 5 (19%) of residential properties sold in 2015 were to investors, 16% as vacation homes and 65% as a primary dwelling – NAR
Vacation home sales, which made up 21% of all transactions in 2014, fell to 16% in 2015, with median price up 6.5% to $210,000 – NAR
The typical US family will spend a total $25,826 on healthcare in 2016 including employer paid insurance – Milliman Medical Index, USA Today
Most Frequently Visited Stores in the U.S. http://www.usatoday.com/story/money/business/2016/05/15/most-popular-stores-america/84260946/ …
Limited listings for sale coupled with strong demand bode for a continuation of rising home sales and prices – Ted C. Jones, Stewart Title
If you are waiting for the US housing market to recover, it already has – Ted C. Jones, Stewart Title Chief Economist
45% of all existing home sales in April 2016 were on the markets less than one month – NAR
One out of every 20 existing home sales in April 2016 were foreclosures (5.0%), and sold at an average 17% discount vs non-distressed – NAR
Investors made up 13% of all existing home buyers in April 2016 and paid all-cash in 7 of every 10 purchases (69%) – NAR
Buyers paid all-cash in 24% of existing home sales transactions in April 2016, down slightly from 25% in March 2015 – NAR
1st time homebuyers made up 32% of all April 2016 sales, up from 30% a year ago but less the normal 40% a decade ago – NAR
Although the inventory of homes available for sale increased by 9.2% in April 2016, number of months of inventory fell from 4.9 to 4.5 – NAR
April pending home sales (newly signed contracts) jumped 4.6% year-over-year & up 5.1% from March to the highest level in 10 years – NAR
US existing homes sales in April 2016 rose 6.0% year-over-year to a seasonally adjusted annualized rate of 5.45 million – NAR
Top Motivations to Sell a Home from http://Realtor.com
Prior to TRID 77% of residential closings took place as scheduled vs 74% today per an ALTA survey of homebuyers
92% of homebuyers surveyed by ALTA post-TRID reviewed their closing documents prior to closing vs 74% pre-TRID – ALTA
Residential rents rose 3.7% in the last 12 months while household gained just 1.4% – US Department of Labor
The percent of disposable income being spent on residential mortgage debt is at the lowest level in 35 years – S&P Experian
The CPI rose 0.4% in April 2016, the largest monthly gain in 3 years, and is now up 2.1% in the prior 12 months (excluding food and energy)
Vacation home median price in 2015 was $192,000 vs $150,000 in 2014. Vacation home sales made up 16% of all transactions in 2015 – NAR
US vacation home sales dropped from 1.13 million properties in 2014 to 920,000 in 2015, but still the 2nd most in 10 years – NAR
After commencing a 3% tax on 2nd homes & rental homes in the UK at the start of April 2016, sales approvals plunged 19.4% from prior month
There were 15,352 dog bite claims on homeowners liability insurance in 2015 at an average cost of $37,214 per incident – State Farm and III
Freddie Mac Releases Apartment Index to Guide Investors When to Invest for Individual Major Markets http://www.freddiemac.com/multifamily/aimi/index.html …
First-time homebuyers accounted for 30% of March 2016 sales at an average $137,000, up 6% from a year ago – FNC National Collateral Database
State-run pension funds are more than $1 trillion unfunded as of today with a total $2.5 trillion of assets – Pew Charitable Trusts via WSJ
Top-10 states that spent the most on pension fund management fees in 2014 had no better asset return than the bottom 5 states – MPPI, WSJ
Seriously delinquent loan rates (90 days or more past due) which hit 9.7% in Q4 2009, dropped to 3.29% in Q1 2016 – MBA
Seriously delinquent loan rate (90 days or more past due) fell from 4.25% in Q 1 2015 to 3.29% in Q1 2016 down 95 basis points – MBA
Retail sales jumped 1.3% in April 2016, the largest gain in a year. In the past 12 months sales were up just 3.0% in the past 12 months
US hotel sector profits jumped 9.4% in 2015 vs 2014 to more than $72 billion with total revenues up 8.0% – STR
The number of new unemployment claims rose for the third straight week hitting 294,000, the highest level posted in 14 months
30-year residential fixed-rate loans hit a 3 year low at 3.57% for the week ending May 12, 2016, down from 3.85% a year ago – Freddie Mac
NAR is forecasting 5.40 million existing home sales in 2016 making it the best sales year in a decade, up from 5.25 million in 2015
The average monthly 1 bedroom apartment rent in San Francisco is 79% of average monthly starting salary and 77% in New York City – RadPad
Existing home median prices rose in 154 of the 178 major metro markets (87%) tracked by NAR in Q1 2016 with 16% of markets gaining 10% & up
Homeowner Associations (HOAs) and property management companies collect $70 billion annually from 333,000 community associations – CAI
Despite global commercial real estate investment falling 14% in Q1 2016 YOY, expect 2016 to repeat 2015 at $650-$700 billion – JLL
The decline in homeownership since 2006 saw 6 million would-be-homeowners become renters, 1/3rd renting investor-owned single family – MBA
NAHB study finds that 24.3% of the final price of a new home results from government-imposed regulations
First-time homebuyers shrinking opportunities as $200,000 or less priced new homes made up just 19% of sales in 2015 vs 38% in 2011 – WSJ
Lenders in the Miami MSA have the highest risk in borrower attempts to commit mortgage fraud in the US per CoreLogic – 24/7 Wall Street
The average impact fee (local infrastructure cost) in 37 key home builder markets is now an average $21,000 per home – Zelman Assoc via WSJ
Impact fees on new home construction in 37 key US home building markets jumped 45% on average since 2005 – Zelman & Associates via WSJ
The average regulatory cost per new home (impact fees, codes, drainage etc) hit $84,671 in 2016, up from $65,224 in 2011 – NAHB via WSJ
As US crude oil production retracts, oil imports have from 7.3 million barrels per day a year ago to 7.8 million daily now – EIA, USA Today
US created just 160,000 net new jobs in April 2016, far short of the 203,000 consensus by economists, 5.0% unemployment rate was unchanged
Distressed residential real estate sales, which at the peak in January 2009 hit 32.4% of all closings, are now back to 11.1% – CoreLogic
The April 1, 2016 3% sales tax on London homes bought to rent or by foreigners caused luxury high end sales to fall to the lowest since 2009
The average cost to originate a loan has risen by 18% in the past two years as regulations and compliance costs explode –MBA
Coal fired power plants accounted for 50% of US electricity production in 2009, but has plunged to 33% today – Wall Street Journal
Luxury Home Prices (top priced 5% of all quarterly sales) Erode – 1st Time in 4 Years http://www.housingwire.com/articles/36954-luxury-home-prices-decrease-for-first-time-since-2012 …
April 2016 housing sales forecast to have risen 3.6% sequentially from March and up 7.4% year-over-year – Ten-X
The median retirement-age couple in the US has saved just $5,000 for retirement – Federal Reserve 2013 Survey of Consumer Finances
Homeownership Rate Not a Function of Student Debt, Rather Having a College Degree or Not http://www.brookings.edu/research/reports/2016/05/03-dividing-line-between-haves-have-nots-home-ownership-education-not-student-debt-dynarski …
April 2016 new car and light-truck sales were up 3.6% vs a year ago at a seasonally-adjusted annualized rate of 17.4 million – Autodata Corp
Fastest Growing Public Homebuilders in 2015 83.6% AV Homes 77.8% New Home Company 62.3% UCP 45.6% WCI Communities BUILDER
Closed Loan Applications for Millennials Awesome Site — Ted http://elliemae.com/millennial-tracker?utm_campaign=2016Q2DG-Millennial-Tracker-Revised&utm_medium=email&utm_source=Eloqua …
Best Places to Raise a Family in Small to Medium Sized Cities Rockville MD Chandler AZ Newton MA Holland MI http://Liveability.com
Texas – The number of months of inventory for residential listings is now 2.8 months, an all-time low, with 6 months normal – Real Estate Center TAMU
Texas home sales rose 7.8% in Q1 2016 vs a year ago, with median price up 5.4% to $195,000 – Texas Association of Realtors
US home prices rose 6.7% in the 12 months ending March 2016 and are forecast to rise 5.3% by March 2017 – CoreLogic
Facing a short-fall, new construction of hotels in Africa can cost as much as $US350,000 per room – JLL via The Economist
Full-time student average tuition jumped 26% in the 10 years ending 2015-2016 at private 4-year colleges – The Economist
Full-time student average tuition rocketed up 40% in the 10 years ending 2015-2016 at public, 4-year colleges – The Economist
Saudi Arabia government deficit is forecast to run 13.5% of GDP in 2016: borrowing, cutting spending, going into reserves – The Economist
India’s economy grew 7.3% in 2015 topping global growth for the 1st time in two decades based on soft data – Wall Street Journal
Fannie Mae & Freddie Mac provided 87.4% of the net funds flow into US mortgage markets in 2015 – Rafferty Capital Markets via HousingWire
Top Presidential Priorities 44% Health Care Costs 33% Economic Recovery 26% Balance Federal Budget 24% Job Creation Wells Fargo Poll
Chinese business travel in 2015 at $291.2 billion topped the US’ $290.2 billion, forecast up 10.1% & 1.9%, respectively in 2016 – GBTA
US commercial real estate sales of $2.5 million and up fell 19.8% in Q1 2016 YOY, a trend not expected to continue – Real Capital Analytics
Colorado had just 2.1 months inventory of existing homes for sale as of April 1, 2016, with 6 months considered normal – Colorado Realtors
California existing home sales rose 5.7% year-to-date (Q1) with median price up 4.0% to $483,280 California Association of Realtors (CAR)
Worst Job Losses 12-Months Ending March 2016 by MSAs & Divisions
Best Job Growth by MSAs & Divisions – 12-Months Ending March 2016
30-year residential interest rates hit the highest level in past four weeks at 3.66% and 15-year rates at 2.89%
Average spending per wedding attendee this year is up 5% to $703, with Millennials spending $893, gift excluded – American Express USA Today
Florida condo-townhome sales dropped 6.1% in Q1 2016 vs Q1 2015, but weighted median price was up 6.0% – Florida Realtors
Florida existing SFR home sales were essentially flat in Q1 2016 vs Q1 2015 +0.3%, but weighted median price was up 11.4% – Florida Realtors
Cost of housing is the biggest factor for Millennials planning a move and a key factor for retirees looking to downsize – RISMedia
Top Q1 2016 Institutional Investor Residential Buying Markets — ReatyTrac http://www.realtytrac.com/news/home-prices-and-sales/q1-2016-cash-buyer-institutional-investor-housing-report/ …
Almost All of the 5.61% Existing Home Sales Gain in Q1 2016 vs Q1 2015 was Single Family, +6.26%
Links for Existing Home Sales by State – National Association of Realtors http://economistsoutlook.blogs.realtor.org/2015/08/24/existing-home-sales-data-by-state/ …
Q1 2016 Houston existing SFR home sales totaled 14,627, 0.8% less than the 14,750 sold in Q1 2015, median price up 2.5% to $205,000 – HAR
Best Markets for 1st Time Homebuyers — Monthly Mortgage Payment is Much Less Than Rent
New single family home construction is forecast to rise 14% to 812,000 homes in 2016 and up another 19% to 964,000 homes in 2017 – NAHB
US homeownership rate, after increasing in 2nd half of 2015, fell to 63.6% in Q1 2016, the lowest in almost 50 years, & 3rd least in history
Hottest Residential Housing Markets in April 2016 based on Views Per Listing vs National Average on -Realtor.com
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Ted