Gary Bolis Jr

great news, great read: http://www.builderonline.com/land/local-markets/homes-sold-at-fastest-pace-ever-in-2017_o Zillow: From listing to closing, it took 81 days on average. The fastest-selling market in 2017 was San Jose, Calif., where the typical home sold in 41 days. San Jose also experienced the biggest drop in inventory over the past year, with 26.8 percent fewer homes to choose from than a year earlier. Homes in  San Jose  sold fastest last year in October, with a span of just 39 days from listing to closing. Homes sold at their fastest pace on record in 2017–81 days from listing to closing–according to new research from Zillow out Tuesday. That was nine days faster than the year prior. The quickest selling month for the typical home was June 2017, when it took about 73 days for a home to sell, including closing. Since it can take between four and six weeks to close a home sale, that means that the typical home was on the market for around 30 days before goin...

GOOD READ https://www.census.gov/construction/nrc/pdf/newresconst.pdf FOR RELEASE AT 8:30 AM EDT, FRIDAY, MARCH 16, 2018 MONTHLY NEW RESIDENTIAL CONSTRUCTION, FEBRUARY 2018 Release Number: CB18-38 March 16, 2018 – The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for February 2018: NEW RESIDENTIAL CONSTRUCTION FEBRUARY 2018 Building Permits: 1,298,000 Housing Starts: 1,236,000 Housing Completions: 1,319,000 Next Release: April 17, 2018 Seasonally Adjusted Annual Rate Source:  U.S. Census Bureau, HUD, March 16, 2018 Building Permits Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,298,000. This is 5.7 percent (±0.7 percent) below the revised January rate of 1,377,000, but is 6.5 percent (±2.4 percent) above the February 2017 rate of 1,219,000. Single-family authorizations in February were at a rate of...

Check this out: https://www.census.gov/construction/nrc/pdf/newresconst.pdf MONTHLY NEW RESIDENTIAL CONSTRUCTION, JANUARY 2018 February 16, 2018 - The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for January 2018: NEW RESIDENTIAL CONSTRUCTION JANUARY 2018 Building Permits: 1,396,000 Housing Starts: 1,326,000 Housing Completions: 1,166,000 Next Release: March 16, 2018 Seasonally Adjusted Annual Rate Source:  U.S. Census Bureau, HUD, February 16, 2018 Building Permits Privately-owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 1,396,000. This is 7.4 percent (±1.2 percent) above the revised December rate of 1,300,000 and is 7.4 percent (±1.9 percent) above the January 2017 rate of 1,300,000. Single-family authorizations in January were at a rate of 866,000; this is 1.7 percent (±1.3 percent) below the revised Dece...

Home prices surge 6.3% in December amid critical housing shortage GOOD READ... https://www.cnbc.com/2018/02/27/home-prices-surge-amid-critical-housing-shortage.html U.S. home prices increased 6.3 percent compared with December 2016, according to the much-watched S&P CoreLogic Case-Shiller national home prices index. The boom is strongest in Seattle, Las Vegas and San Francisco, which reported the highest gains. Chicago, Cleveland and Washington, D.C., saw the smallest gains. None of the top 20 markets saw an annual price decline Sky-high demand and record-low supply continued to push home prices higher in December, far faster than income growth. U.S. home prices increased 6.3 percent compared with December 2016, according to the much-watched S&P CoreLogic Case-Shiller national home prices index. That is an increase from 6.1 percent annual growth in the previous month. The index measuring the nation's 20 largest metropolitan markets rose 6....

AN INTERESTING READ: FOR RELEASE AT 8:30 AM EST, TUESDAY, DECEMBER 19, 2017 MONTHLY NEW RESIDENTIAL CONSTRUCTION, NOVEMBER 2017 Release Number: CB17-206 December 19, 2017 - The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for November 2017:  ​ Housing Starts Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,297,000. This is 3.3 percent (±9.1 percent)* above the revised October estimate of 1,256,000 and is 12.9 percent (±11.7 percent) above the November 2016 rate of 1,149,000. Single-family housing starts in November were at a rate of 930,000; this is 5.3 percent (±10.2 percent)* above the revised October figure of 883,000. The November rate for units in buildings with five units or more was 359,000.  READ FULL STATISTICS AT https://www.census.gov/construction/nrc/pdf/newresconst.pdf

Interesting Read: http://www.builderonline.com/design/consumer-trends/once-hot-apartment-construction-cooling-as-us-housing-engine_c Faster apartment building was instrumental in pulling the U.S. housing market out of its slump a decade ago. Now, that engine is starting to throttle back. A softening in the multifamily segment is something to keep an eye on even as overall home building -- which includes single-family dwellings that make up the largest share of the market -- is expected to keep moving forward. The supply of apartments and condominiums has surged in recent years as builders responded to rising demand, fueled in part by young Americans who preferred to rent rather than purchase a home in the aftermath of the recession. A surge in prices for single-family properties, as the real-estate market recovered from its 2006 plunge, also made apartments more attractive for both builders and people unable to buy.  For Full Article Go to : http://www.builderonline.co...

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for October 2017 Good read: https://www.census.gov/construction/nrc/pdf/newresconst.pdf FOR RELEASE AT 8:30 AM EST, FRIDAY, NOVEMBER 17, 2017 MONTHLY NEW RESIDENTIAL CONSTRUCTION, OCTOBER 2017 Release Number: CB17-184 November 17, 2017 - The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for October 2017: NEW RESIDENTIAL CONSTRUCTION OCTOBER 2017 Building Permits: 1,297,000 Housing Starts: 1,290,000 Housing Completions: 1,232,000 Next Release: December 19, 2017 Seasonally Adjusted Annual Rate Source:  U.S. Census Bureau, HUD, November 17, 2017 Building Permits Privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,297,000. This is 5.9 percent (±1.4 percen...