Here are five key trends from the REALTORS® Confidence Index survey of how the pandemic impacted the housing market in 2020.
Generally, taxpayers deduct property and income taxes using the SALT deduction.
Inventory levels and months' supply are measures of housing supply. Here is a quick look at both of these terms.
Existing-home sales data shows that housing market activity this December rose modestly 0.7% from November 2020.
Fewer Americans filed a new unemployment claim last week, with the number of unadjusted initial claims falling to 960,668, a decrease of 151,303 claims from the prior week.
The commercial real estate market continues to struggle, but some sectors are holding up relatively well against the economic effects of the pandemic.
Mortgage rates fell slightly this week as mortgage applications decreased. With a new stimulus package a top priority of the new administration, which will give relief to millions of households and businesses, expect mortgage rates to rise modestly in the following weeks but to continue to be historically low.
Home construction finished the year with the biggest bang since 2006 with 1.669 million units started for construction in December (annualized). That means the worst of the housing shortage could soon come to an end.
Seventy-two percent of REALTORS® reported volunteering in their community, and the typical REALTOR® who volunteers is 53 years old.
December 2020 seasonally-adjusted advance estimates of United States retail and food service sales decreased from November sales figures as anticipated and represents the 3rd consecutive month of decreasing sales.
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