RECENT Real Estate RESEARCH
Zoning is the way that governments supervise land development and the kinds of uses each individual property may be directed toward for the public interest.
Housing starts fell from 1.18 million to ~1.15 million in December 2015. This was below Wall Street estimates of 1.2 million.
With the rise in property prices, housing affordability has become a growing concern in many markets of the country. High housing prices force people to the suburbs and rural towns to find affordable housing.
A home is usually the most expensive asset that consumers can hold, and owning a home is among their lifetime goals. The question arises—why can’t more people own a house despite the availability of so many properties in the market?
Investors have returned from a vicious sell-off last week to a deluge of earnings this week. Homebuilders will focus on housing starts and existing home sales.
According to the latest data, home prices in the nation’s top 20 markets rose by 5.5% in October YoY, the highest recorded growth during the past 14 months.
Foreclosure completions fell by 4,000 units to 33,000 in November, according to CoreLogic. Completions fell 19% YoY (year-over-year).
In December 2015, non-farm payrolls increased by 292,000, easily topping Wall Street’s estimate of 200,000.
In the quarter ending September 30, construction spending as a percentage of GDP rose to 6.1%. This was a big rise from a year ago when it stood at 5.4%.
According to the National Association of Realtors (or NAR), the US Pending Home Sales Index fell 0.9% to 106.9 in November compared to a rise of 0.2% or 107.7 in October.
Housing has been a bright spot in the US economy. But over the past month, housing stocks haven’t been performing well. ITB, a housing-focused fund, has fallen 4.7%.
Lennar (LEN) has a market cap of $9.7 billion. The company’s YTD (year-to-date) price movement was a mix of rises and falls in fiscal 2015.
On September 21, Lennar reported $2.9 billion in revenue for fiscal 4Q15. This was a rise of 14% YoY. Lennar Financial Services reported $157 million in revenue.
According to the United States Census Bureau, housing starts rose to 1,173 thousand in November, as compared to the upwardly revised figure of 1,062 thousand in October 2015.
After Restoration Hardware Holdings’ (RH) fiscal 3Q15 earnings report, RH fell by 0.69% to close at $87.59 per share in yesterday’s trade.
Foreclosure completions fell by 18,000 units to 37,000 in October, according to CoreLogic. The September reading of 55,000 was unusually high.
After Toll Brothers’ (TOL) fiscal 4Q15 earnings report, TOL fell by 7.0% to close at $34.88 per share in yesterday’s trade.
In November 2015, non-farm payrolls increased by 211,000, easily topping Wall Street’s estimate of 200,000.
Housing is steadily becoming a bright spot for the US economy. The iShares US Home Construction ETF (ITB) has risen 3.9% over the past month, as of November 23.
Foreclosure completions rose by 19,000 units to 55,000 in September. Completions have fallen 18% YoY (year-over-year).