According to data from the Census Bureau’s Survey of Construction (SOC), 65.5 percent of single-family homes started in 2021 were built within a community or homeowner’s association. Since the re-design of the SOC in 2009, this was the second highest percentage for new homes started…
Real estate taxes vary widely across states both in terms of annual taxes paid as well as effective tax rates. In 2021, the difference between average real estate taxes (RETs) paid by New Jersey and Alabama home owners was $8,336. New Jersey continued its perennial…
Downshifting its pace of tightening of monetary policy, the Federal Reserve’s monetary policy committee raised the federal funds target rate by 50 basis points, increasing that target to an upper bound of 4.5%. This marked a relatively smaller increase after four previous 75 basis point…
Per the Mortgage Bankers Association’s (MBA) survey through the week ending December 9th, total mortgage activity increased 3.2% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate rose one basis points to 6.42%. The FRM rate has fallen 48 basis points over…
Consumer prices in November saw the smallest year-over-year gain since December 2021.While still elevated, inflation experienced the second month below an 8% annual growth rate since February 2022. However, the shelter index continued to rise at an accelerated pace and was more than offsetting decreases…
The most recent release of the Z.1 Financial Accounts of the United States shows a sharp slowdown in the quarter-over-quarter growth of households’ real estate assets. After six consecutive quarters of above 3 percent growth quarter-over-quarter, the third quarter of 2022 saw a 1.74% increase…
The prices of building materials decreased 0.3% in November (not seasonally adjusted) following 0.5% and 0.1% declines in September and October, respectively, according to the latest Producer Price Index (PPI) report. The index has decreased five of six months for the first time since 2015. The…
