RECENT Real Estate RESEARCH
D.R. Horton reported 2Q16 revenue of $2.7 billion—a 16% increase on a YoY basis and a sequential increase of ~14%. The revenue beat analysts’ expectations.
Housing starts fell from ~1.2 million to ~1.1 million in March 2016, which was below Wall Street analysts’ estimates.
In terms of economic data this week, we’ll get housing starts, building permits, existing home sales, the NAHB Housing Market Index, and the FHFA House Price Index.
Fannie Mae’s monthly National Housing Survey measures consumers’ attitudes about housing and the economy.
In the quarter ending December 31, construction spending as a percentage of the GDP rose to 6.2%. This was a big rise from a year ago when it stood at 5.8%.
In March 2016, non-farm payrolls rose 215,000, beating Wall Street’s estimate of 205,000. The monthly ADP National Employment Report predicted that the number would come in at 200,000.
On March 29, Lennar (LEN) reported $2.0 billion in revenue for fiscal 1Q16—a rise of 21% year-over-year.
Housing starts rose from 1.12 million to ~1.18 million in February 2016. This was above Wall Street analysts’ estimates of 1.5 million.
Foreclosure completions rose by 5,000 units to 38,000 in January, according to CoreLogic. From 2000 to 2006, foreclosure completions averaged around 21,000 per month.
In February 2016, non-farm payrolls rose 242,000, beating Wall Street’s estimate of 195,000. Private payrolls rose by 230,000 while government jobs rose by 12,000.
The ratio of median home prices to median income ratio is 3.9x, well above the historical range of 3.2x to 3.6x.
The US markets opened on a weak note on February 23, 2016, as the Conference Board Consumer Confidence Index fell from its January levels.
Housing starts fell from 1.14 million to ~1.11 million in January 2016. This was below Wall Street analysts’ estimates of 1.2 million.
In January, non-farm payrolls increased by 151,000, missing Wall Street’s estimate of 190,000. Private payrolls rose by 158,000, government jobs by 17,000.
The Consumer Financial Protection Bureau was established to protect consumers’ interests by implementing federal consumer financial laws.
As more and more people seek apartments, rent has also been rising rapidly. In fact, rent has been rising faster than the overall cost of living in the US.
First-time buyers comprised 32% of the total homebuyers in December, compared with 30% in November and 29% in December 2014.
Existing home sales surged sharply in December 2015 despite the prediction by some market players of an impending slowdown in the housing sector.
D.R. Horton (DHI) reported 4Q15 revenue of $3.1 billion—a 28% increase on a YoY (year-over-year) basis and a sequential increase of about 8%.
In an interview with Wall Street Week, Shark Tank’s Barbara Corcoran and former Housing and Urban Development Secretary Henry Cisneros shared their views on the housing market.