'High gear': Inventory stays tight in Seattle-area housing market, even with increase in listings
For people looking to buy a home, experts had a simple piece of advice: Don't wait if you see something you like.
https://www.seattlepi.com/seattlenews/article/inventory-tight-in-seattle-housing-market-july-15467074.php
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Housing Rebound: Year-over-Year Gains for June Single-Family Permits
Over the first six months of 2020 – and after the onset of the impact of the coronavirus – total single-family permits issued year-to-date (YTD) nationwide reached 433,484. On a year-over-year (YoY) basis, this is an 3.8% increase over the June 2019 level of 417,453.
http://eyeonhousing.org/2020/08/housing-rebound-year-over-year-gains-for-june-single-family-permits/
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Zillow Weekly Market Report: Data Through August 8, 2020
Newly pending sales are up nearly 17% year over year and price growth is accelerating. More new listings were added to the market last week than the week prior, but not enough to keep up with the pace of sales as total inventory fell further below where it was last year. That strong buyer demand has been evident in both urban and suburban areas of the country during the coronavirus pandemic.
https://www.zillow.com/research/zillow-weekly-market-report-27151/
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REI to sell its never-used Bellevue headquarters and shift office work to multiple Seattle-area sites
In yet another sign of COVID-19’s disruptive impact on business, REI is abandoning its nearly completed corporate campus in Bellevue and spreading headquarters operations to multiple sites across the Seattle area.
https://www.seattletimes.com/business/local-business/rei-to-sell-its-new-bellevue-headquarters-and-shift-office-work-to-multiple-seattle-sites/
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Amazon considers relocating some employees out of Seattle
Amazon.com Inc. is offering Seattle-based employees a choice of smaller offices outside the city, suggesting the Covid-19 outbreak and a new local employers tax have pushed the e-commerce giant to consider alternatives to its hometown.
https://www.seattletimes.com/business/amazon/amazon-considers-relocating-some-employees-outside-of-seattle/
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How has buying and selling homes in Seattle changed since the start of the pandemic?
The coronavirus pandemic has moved much of what used to be done in-person to a virtual platform, as people adapt to making even the biggest decisions online.
https://www.seattlepi.com/coronavirus/article/how-buying-selling-homes-changed-during-pandemic-15467798.php
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Home Energy Ratings in Real Estate Listings Would Steer Buyers to Efficient Choices
Home buyers have said in repeated surveys that the energy efficiency of homes is a priority. Yet sellers rarely include efficiency information in their listings, so potential buyers using the major real estate aggregation websites—where 93% of home buyers begin their searches—generally cannot find this information.
https://www.renewableenergymagazine.com/energy_saving/home-energy-ratings-in-real-estate-listings-20200813
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Amazon could be moving into your local mall
The company is in talks with Simon Property Group, the largest mall owner in the United States, to convert former or current JCPenney and Sears stores into distribution hubs to deliver packages, the Wall Street Journal reported Sunday.
https://www.abc57.com/news/amazon-could-be-moving-into-your-local-mall
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Despite Demand, U.S. Home Sellers Slow to Return to the Market
"Record-low mortgage rates are helping fuel a brisk pace of home sales later into this summer than normal, but buyers are having to compete over fewer and fewer listings,
https://www.worldpropertyjournal.com/real-estate-news/united-states/seattle/real-estate-news-coronavirus-impact-on-home-sales-in-2020-zillow-monthly-housing-data-jeff-tucker-low-housing-inventory-in-2020-12070.php
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Zillow 2020 Urban-Suburban Market Report
Are people fleeing the cities for greener suburban pastures? Some faint signals may have emerged in certain places, but by and large, the data show that suburban housing markets have not strengthened at a disproportionately rapid pace compared to urban markets.
https://www.zillow.com/research/2020-urb-suburb-market-report-27712/
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U.S. Metro Dwellers Are Increasingly Searching for Suburban Homes
Urban dwellers across the U.S. continue to show an increased appetite for suburban homes, a trend brought about by the desire for more space and the flexibility to work from home amid the coronavirus pandemic.
https://www.mansionglobal.com/articles/u-s-metro-dwellers-are-increasingly-searching-for-suburban-homes-218283
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July 2020 – Seattle Condo Market Update
It may have taken half a year, but Seattle’s placid condominium market finally got a boost in July. After months of sluggishness, condo sales and inventory supply improved substantially.
https://blog.seattlepi.com/seattlecondo/2020/08/09/july-2020-seattle-condo-market-update/
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Number of New Listings in U.S. Surpasses Pre-Covid Numbers
The development, recorded by realtor.com, is the first step toward easing the imbalance between supply and demand
https://www.mansionglobal.com/articles/number-of-new-listings-in-u-s-surpasses-pre-covid-numbers-218462
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Again, Credit for Builders Tightens While Rates Decline
Builders and developers responding to NAHB’s survey on financing for Acquisition, Development and Construction (AD&C) indicated that credit continued to become tighter in the second quarter of 2020. The net tightening index derived from the survey came in at 12.0, after reaching an 8 1/2-year high of 22.7 in the first quarter.
http://eyeonhousing.org/2020/08/again-credit-for-builders-tightens-while-rates-decline/
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Housing market skirts coronavirus crisis as sellers use 3D virtual tours to find eager buyers
While shelter-in-place orders shut down much of the economy, realtors stepped up their use of 3D virtual tours to sell houses.
https://www.cnbc.com/2020/08/09/housing-market-skirts-crisis-with-help-of-zillow-matterport-3d-tours.html
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For Buyers Ready to Leave Major Markets, Smaller Cities Offer (Relatively) High Supply
After years of tight supply and rising prices, luxury buyers find more options in secondary markets outside major hubs
https://www.mansionglobal.com/articles/for-buyers-ready-to-leave-major-markets-smaller-cities-offer-relatively-high-supply-218437
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As Demand for Second Homes Skyrockets in the U.S., ‘Spillover’ Markets Gain Popularity
Ever since the coronavirus first arrived on U.S. shores, the priority among high-end homeowners has been clear: to get out of cities, and to stay out.
https://www.mansionglobal.com/articles/as-demand-for-second-homes-skyrockets-in-the-u-s-spillover-markets-gain-popularity-217781
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The Power of Positive Thinking
People with a family history of heart disease who also had a positive outlook were one-third less likely to have a heart attack or other cardiovascular event within five to 25 years than those with a more negative outlook.
https://www.hopkinsmedicine.org/health/wellness-and-prevention/the-power-of-positive-thinking
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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
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