At Colliers, we understand the importance of interconnected data, macroeconomic trends, and anecdotes in real estate decisions. With that in mind, here are 10 numbers that have recently caught our attention.
Consumer confidence rose to an index level of 108 in September, per the Conference Board, well above the consensus of 104.6.
New home sales surged in August to an annualized rate of 685,000, per stats from the Department of Housing and Urban Development, also well ahead of the consensus of 500,000.
The S&P CoreLogic Case-Shiller index showed slowing home price appreciation in July (the latest statistics available). The deceleration of 2.3 percentage points marks the most significant month-over-month decline in the index’s history. Nationally, prices were down 0.33% month-over-month.
Bankrate reported that the average 30-year fixed-rate mortgage hit 7.0% in late September, the highest since 2008.
The Mortgage Bankers Association noted that refinancing is, unsurprisingly, at a 22-year low.
Redfin reports that in August, sales of more than 20% of homes under contract fell through in Jacksonville, Las Vegas, Atlanta, Orlando, Fort Lauderdale, Phoenix, Tampa, Fort Worth, San Antonio, and Houston. Nationally, in August, that figure was 15.2%. Typically, 12% of home sales fall through.
The Federal Reserve Bank of San Francisco found that more than 60% of home price appreciation in the two years ending in November 2021 was attributable to remote work.
The Census Bureau’s latest American Community Survey ranked Washington D.C., (48.3%), Washington state (24.2%), Maryland (24%), and Colorado and Massachusetts (tied at 23.7%) as having the largest share of employees working from home in 2021.
OpenTable reports that the number of seated diners has returned to 100% of pre-pandemic levels.
Kastle Systems reports that its back-to-work barometer remains at less than 50% nationally. Meanwhile, Microsoft surveyed over 20,000 employees and found that 84% would be motivated to return to the office to socialize with co-workers.
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