New home listings, pending sales up in Seattle month over month amid pandemic

In Seattle, newly pending sales are up 24% month over month, according to data from Zillow for the week ending on May 23. Compared to the previous week, newly pending sales are up about 6%, showing a steady increase week over week.

https://www.seattlepi.com/coronavirus/article/new-home-listings-pending-sales-up-seattle-covid-15303715.php

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Seattle Office Tenants Plan to Phase in Workers

Urban Renaissance Group’s survey of more than 500 commercial office and retail tenants indicates employees will not be rushing back into offices, but rather taking advantage of a more phased approach.

https://www.globest.com/2020/06/05/seattle-office-tenants-plan-to-phase-in-workers/

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Commercial Real Estate Shift Coming

Boston Fed President Eric Rosengren says commercial real estate is going to go through a major shift because of the pandemic, and there could be a shift to the suburbs in the residential market.

https://www.bloomberg.com/news/audio/2020-05-26/fed-s-rosengren-commercial-real-estate-shift-coming-podcast?sref=p6BhGudo

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Wait and hurry up: Real estate agents describe challenge of working in pandemic

Two months of limited activity is just one of several hurdles.

https://jewishchronicle.timesofisrael.com/wait-and-hurry-up-real-estate-agents-describe-challenge-of-working-in-pandemic/

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US unemployment drops unexpectedly to a still-high 13.3%

The U.S. unemployment rate fell unexpectedly in May to 13.3% — still on par with what the nation witnessed during the Great Depression — as states loosened their coronavirus lockdowns and businesses began recalling workers

https://wgntv.com/news/unemployment-rate-falls-to-13-3-us-adds-2-5-million-jobs/

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May sees biggest jobs increase ever of 2.5 million as economy starts to recover from coronavirus

Economists surveyed by Dow Jones had been expecting payrolls to drop by 8.33 million and the unemployment rate to rise to 19.5% from April’s 14.7%. If Wall Street expectations had been accurate, it would have been the worst figure since the Great Depression.

https://www.cnbc.com/2020/06/05/jobs-report-may-2020.html

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King County approved to move to Phase 1.5, open more businesses

Washington's Secretary of Health on Friday approved King County's application to move to a modified Phase 1, allowing the opening of more businesses amid the novel coronavirus outbreak.

https://www.seattlepi.com/coronavirus/article/king-county-approved-to-move-to-phase-1-5-open-15320026.php

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12 Seattle companies currently hiring more than 10,000 positions this June

We’ve sifted through some of Seattle’s top companies and whipped together a list of places that are hiring this June.

https://dailyhive.com/seattle/seattle-companies-hiring-jobs-june

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King County assessor wants Legislature to fix laws to help small businesses

Changes needed because of COVID-19 impact on commercial properties

https://www.seattleweekly.com/news/king-county-assessor-wants-legislature-to-fix-laws-to-help-small-businesses/

 

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Big developer backs out of $25M South Lake Union land deal, blaming coronavirus downturn

Nine months ago, Onni paid owner H5 $1 million for an exclusive option to purchase the parcel, which is entitled for a 40-story apartment building, according to a breach-of-contract suit filed by H5 in federal court here Wednesday.

https://www.seattletimes.com/business/real-estate/big-developer-backs-out-of-25m-south-lake-union-land-deal-blaming-coronavirus-downturn/

 

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Multifamily Construction Gaining Market Share in Low Density Markets

In the last analysis of NAHB’s Home Building Geography Index (HBGI), single-family construction was shown to be expanding faster in regions of lower population density. The COVID-19-induced public health crisis has added momentum to this trend.

http://eyeonhousing.org/2020/06/multifamily-construction-gaining-market-share-in-low-density-markets/

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Governor Inslee extends moratorium on evictions

On June 2, Governor Inslee extended the Moratorium on Evictions until August 1, 2020.  Under the extended moratorium, it is unlawful for a landlord to evict a tenant or deliver any notice of termination. However, a critical exception was included in the June 2 extension order. Effective immediately, a landlord may: "...  provide at least 60 days’ written notice of intent to (i) personally occupy the premises as a primary residence, or (ii) sell the property."  

https://www.governor.wa.gov/sites/default/files/20-19.2%20Coronavirus%20Evictions%20%28tmp%29.pdf?utm_medium=email&utm_source=govdelivery

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After the Shutdown: Growing Your Business Through Referrals as States Reopen

While no one knows the date this economic situation will end, I predict the world will change and become a vibrant economy again. I believe in American and human ingenuity and in the entrepreneurial spirit that abides in so many Americans and business owners around the country.

https://rismedia.com/2020/06/04/after-shutdown-growing-business-through-referrals-states-reopen/?utm_source=newsletter&utm_medium=email&utm_campaign=eNews

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2020 Top Ten Most Favorable Areas for Millennials During the Pandemic

NAR Top 10 Most Favorable Areas for Millennial Homebuyers

https://www.nar.realtor/sites/default/files/documents/top-10-most-favorable-areas-for-millennials-during-the-pandemic-06-04-2020.pdf

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Most Vulnerable Housing Markets

The analysis of the American Community Survey (ACS) suggests that renters and young adults under the age of 34 are likely to face higher prolonged unemployment risks as a result of the coronavirus pandemic hitting the labor market. The labor market risks are also uneven across states, with state economies heavily reliant on leisure, entertainment, retail and personal services being most vulnerable.

http://eyeonhousing.org/2020/05/most-vulnerable-housing-markets/

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Pent-Up Demand Lifts May New Home Sales 21%, Survey Finds

Real-estate brokers say business has increased as stay-at-home restrictions ease and mortgage rates remain near record lows

https://www.mansionglobal.com/articles/pent-up-demand-lifts-may-new-home-sales-21-survey-finds-139915

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U.S. Home Prices Rise as Real Estate Market Continues Its Slow Recovery From Covid-19

Median prices hit a record high in May, according to realtor.com report

https://www.mansionglobal.com/articles/u-s-home-prices-rise-as-real-estate-market-continues-its-slow-recovery-from-covid-19-215382

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Below Deck’s Captain Sandy: What to Know About Buying a Yacht Home

Captain Sandy Yawn may be a rare breed in the yachting world. For starters, she’s one of only a few female superyacht captains in the world.

https://blog.coldwellbankerluxury.com/below-decks-captain-sandy-what-to-know-about-buying-a-yacht-home/

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Phases of reopening: Over half of Washington's counties enter Phase 2

Though the state officially is in Phase 1 of the four-phase reopening plan from Washington’s stay-home order, more than half of the counties in the state have been allowed to proceed to Phase 2 and loosen social distancing restrictions even further.

https://www.king5.com/article/news/health/coronavirus/washington-state-counties-phase-1-and-phase-2-reopening-coronavirus-covid/281-e005d001-006c-4ce5-bac9-67adbd1b4755

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Weekly Housing Market Monitor

NAR Research compiles the latest housing market data in this weekly monitor, based on what REALTORS® are seeing in their market, mortgage data, jobless claims, foot traffic, and the latest home sales numbers.

https://www.nar.realtor/research-and-statistics/research-reports/weekly-housing-market-monitor

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Market Hotness Index

Metro Hotness - Zip Code and County Hotness

https://www.realtor.com/research/reports/hottest-markets/

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HOUSING STATISTICS

Housing Statistics offers 43 different sets of data, downloadable either as Excel or PDF files (updated weekly). Housing data and primary indicators of the industry are housed in one easy-to navigate location containing historical and current sets of statistics such as: Housing Starts (by Region & Structure Type), Homes Sold by Region, Producer Price Indexes (for Building Materials), Manufactured Homes, New Home Characteristics, Residential Vacancy & Absorption Rates, Units Under Construction, Value of New Construction, and many more.

http://www.nahbclassic.org/reference_list.aspx?sectionID=819&channelID=311

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Economic IndicatorsU.S. Census Bureau Economic Indicators

https://www.census.gov/economic-indicators/

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Local Market Reports

All real estate is local and every market is unique. To help REALTORS® and other housing market analysts get the most out of the plethora of data that is available, NAR Research produces a series of Local Market Reports (LMRs) which provide insights into the fundamentals and direction of the nation's largest metropolitan housing markets. Each report evaluates a number of factors affecting home prices, including:

https://www.nar.realtor/research-and-statistics/research-reports/local-market-reports

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CoreLogic Home Price Insights

The most geographically comprehensive and current home price index.

http://www.corelogic.com/about-us/researchtrends/corelogic-home-price-insights.aspx?WT.mc_id=crlg_151103_aHqc0&elq=d6379903117d41bcbe7b9f6a82f2189a&elqCampaignId=2692&elqaid=7659&elqat=1&elqTrackId=097f671c98fc48249757d8ddbd229326#.Vj1WlvnnuUl

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Bureau of Economic Analysis

U.S. Economy at a Glance

http://www.bea.gov/index.htm

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Mortgage Market Survey Archive

Compilation of Weekly Survey Data for 2015

http://www.freddiemac.com/pmms/archive.html

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Housing Economics

NAHB produces in-depth economic analyses of the home building industry based on private and government data. Our economics group surveys builders, home buyers, and renters to gain insight into the issues and trends driving the industry.

https://www.nahb.org/en/research/housing-economics.aspx