Economic Updates Archive

The Latest Housing Starts (September 2014)

Homebuilders were busier in September, digging more dirt and ready to bring more new homes to the market.  But construction was tilted towards multifamily apartment units.  Single-family home construction still remains well below historical norms.  A housing shortage is...

Falling Oil Prices, REALTOR® Expense

Oil prices have tumbled in the past month, and the reasons are due to supply and demand.  North Dakota is producing oil like mad, now the second biggest oil producing state after Texas, surpassing Alaska.  On the demand side,...

Unemployment Insurance Claims Fall to Lowest in 14 Years

Initial claims for unemployment insurance filed in the week ended October 11 dropped to 287,000, the lowest since April 2000. This puts the 4-week moving average to 283,500, also the lowest since June 2000. A number that is below...

Rapidly Diminishing REO Foreclosure Sales

The number of foreclosed home sales has been rapidly falling and could essentially vanish by next year.  Those who specialize in foreclosure sales should therefore look towards other line of business. In August, foreclosed sales comprised only 6 percent...

August 2014 EHS Data Vs. The Ten-Year August Average

Every month NAR produces existing home sales, median sales prices and inventory figures. The reporting of this data is based on homes sold the previous month and the data is explained in comparison to the same month one year...