Will the coronavirus economic meltdown reverse Seattle’s steady growth?
For any recent arrival to Seattle, the suggestion that the city’s population could actually decline must sound like science-fiction.
https://www.seattletimes.com/seattle-news/data/will-seattles-population-decline-post-coronavirus/
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Seattle area housing market proves 'resilient' amid coronavirus pandemic, but inventory remains low
The Seattle area housing market in May continued to show resiliency amid the novel coronavirus outbreak, with increases compared to the previous month in new listings and pending sales.
https://www.seattlepi.com/seattlenews/article/Seattle-area-housing-market-proves-resilient-15327618.php
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Seattle Experiences Steep Decline in Commercial Real Estate Sales
The latest research from the Commercial Brokers Association (CBA) shows commercial real estate investment activity in the Puget Sound region tumbled from nearly $5.6 billion in January through April 2019 to $1.99 billion for the same four-month period in 2020, which translates to a 64.4% decrease. Deal flow dropped from 661 deals in 2019 to 484 in 2020 during that January to April time period, a 26.8% decrease.
https://www.connect.media/seattle-experiences-steep-decline-in-commercial-real-estate-sales/
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$726 Million in Rent at Risk as Gen Z Moves Back in with Parents During the Coronavirus Pandemic
2.7 million adults moved back into a parent's home in March and April as unemployment soared
https://www.dailyrecordnews.com/news/state/726-million-in-rent-at-risk-as-gen-z-moves-back-in-with-parents-during/article_072ab0ff-45eb-55a8-bd27-3d5a54090147.html
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Google's New Rules Clamp Down on Discriminatory Housing, Job Ads
Alphabet Inc's Google said on Thursday it was tackling unlawful discrimination by barring housing, employment and credit ads from being targeted to its users based on their postal code, gender, age, parental status or marital status.
https://www.nytimes.com/reuters/2020/06/11/business/11reuters-alphabet-google-ads.html#:~:text=Google's%20New%20Rules%20Clamp%20Down%20on%20Discriminatory%20Housing%2C%20Job%20Ads&text=OAKLAND%2C%20Calif.,parental%20status%20or%20marital%20status.
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The Housing Market Is Rebounding, But What Happens After Stimulus Support Measures Fall Away?
There is an old saying in the real estate development business: when a novice makes a mistake, it’s because they missed the nuances of the market; when a pro makes a mistake, it’s because they missed the obvious.
https://www.forbes.com/sites/bradhunter/2020/06/10/a-residential-reboundbut-what-happens-after-the-supports-fall-away/#3a6aa3eb2cbd
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Amid Pandemic, Expats Come Back Home
Being close to their families is the main driver some are considering the international moves, Knight Frank says
https://www.mansionglobal.com/articles/amid-pandemic-expats-come-back-home-216716
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Building Materials Prices Move Higher in May
Prices paid for goods used in residential construction increased 0.6% in May (not seasonally adjusted) according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics.
http://eyeonhousing.org/2020/06/building-materials-prices-move-higher-in-may/
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Declines for Initial and Continuing Jobless Claims
Weekly initial jobless claims continued to decline in the week ending June 6 and continuing claims, which lags initial jobless claims by one week, declined to 20.9 million in the week ending May 30. The data indicate that workers are returning to work, albeit slowly, as coronavirus restrictions are gradually eased.
http://eyeonhousing.org/2020/06/declines-for-initial-and-continuing-jobless-claims/
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Neither U.S. Consumers Nor Epidemiologists Expect To Get Back To Normal Any Time Soon
An awful lot of time has been spent studying how the average consumer will react to the U.S. economy’s “grand reopening.” How do they feel about getting back out there? Are there activities they’ll miss? What will they avoid?
https://www.pymnts.com/economy/2020/neither-u-s-consumers-nor-epidemiologists-expect-to-get-back-to-normal-any-time-soon/
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Former Mariners star Jay Buhner sells scenic estate outside Seattle
Baseball veteran Jay Buhner, who spent 14 seasons with the Mariners and was elected into the team’s Hall of Fame, has sold his woodsy home outside Seattle for $2.075 million.
https://www.latimes.com/business/real-estate/story/2020-06-09/former-mariners-star-jay-buhner-sells-estate-outside-seattle
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Accomodative Monetary Policy Will Continue for Years
The Federal Reserve held the federal funds rate at the current 0% to 0.25% range as it continues to deploy policy tools to underwrite an emerging recovery for the U.S. economy. And it will continue to provide such policy support until the crisis has passed and the economy has recovered.
http://eyeonhousing.org/2020/06/federal-reserve-accomodative-monetary-policy-will-continue-for-years/
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Toll Bros. puts Belltown condo high-rise on ice
Publicly traded Toll Brothers said last week in its second-quarter earnings call with analysts that it would suspend plans for a luxury condominium tower at 2302 Fourth Ave. in Belltown.
https://www.djc.com/news/re/12132635.html
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For Luxury Homeowners Short on Space, the Next Frontier Is the Backyard
n Amsterdam couple had a simple ambition: to enlarge their two-bedroom apartment with an addition to accommodate working from home and starting a family. Their architect, however, had more ambitious plans.
https://www.mansionglobal.com/articles/for-luxury-homeowners-short-on-space-the-next-frontier-is-the-backyard-140127
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In Seattle, a Modest Home Renovation Proves That Sometimes Less Is More
The Seattle couple bought the three-bedroom, three-bathroom house in the summer of 2015 for $2.2 million, then spent about $250,000 on the upgrades.
https://www.mansionglobal.com/articles/in-seattle-a-modest-home-renovation-proves-that-sometimes-less-is-more-140090
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In U.S., Home-Buying Activity Catching Up—and Sometimes Surpassing—Pre-Pandemic Levels
Median asking prices are higher than a year ago in 89 out of 100 metro areas, according to realtor.com
https://www.mansionglobal.com/articles/in-u-s-home-buying-activity-catching-up-and-sometimes-surpassing-pre-pandemic-levels-216754
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Top Tips for House Cleaning During a Pandemic
During a pandemic, keeping your home clean and sanitized is more important than ever. Here's how to go about it.
https://www.realtor.com/videos/video-top-tips-for-house-cleaning-during-a-pandemic/ef37139d-c89f-4e47-9929-6887915ccf77
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How The Pandemic Is Changing Residential Buyers' Preferences
Not long ago, we felt that the tremor of society’s heartbeat would remain forever slow. Yet businesses around the country have started to reopen, and humans have started their adaptation process into the new normal. Hope has begun to rise.
https://www.forbes.com/sites/forbesrealestatecouncil/2020/06/02/how-the-pandemic-is-changing-residential-buyers-preferences/#3d0c03e06d6b
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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 Indicators
U.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