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Tag: August

August Home Sales Soar to a Record High: 5 Top Housing Picks

The U.S. housing sector is on a roll, with an increasing number of Americans leveraging on the record-low mortgage rates. The latest pending home sales data for August reached the highest level on record as more Americans signed contracts to buy homes in the month, suggesting that the hot U.S. housing market will maintain the strong spell well into fall.

All-Time High Pending Home Sales

The National Association of Realtors or NAR’s Pending Home Sales Index — a forward looking indicator of home sales based on contact signing — soared 8.8% from July to 132.8 in August, hitting a record high, according to the NAR survey since January 2001. Contract signings are 24.2% higher from the year-ago period as well.

It is worth mentioning that August marks the fourth consecutive month of gains as well as the third year-over-year rise since the pandemic hit the housing market hard. All four

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More Americans sign contracts to buy homes in August

SILVER SPRING, Md. — More Americans signed contracts to buy homes in August, suggesting the hot U.S. housing market will continue to churn well into fall.

The National Association of Realtors said Wednesday that its index of pending sales rose 8.8% to a record high of 132.8. An index of 100 represents the level of contract activity in 2001. It had sunk to a low of 69 in April, when buyers and sellers were sidelined as the coronavirus swept through the U.S.

US HOUSEHOLD WEALTH HITS RECORD DESPITE CORONAVIRUS PANDEMIC

Contract signings are a barometer of finalized purchases over the next two months, so this month’s numbers point to continued strong sales into October.

The housing market has been one of the highlights of the U.S. economy, which is still trying to get back

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More Americans Sign Contracts to Buy Homes in August | Business News

By MATT OTT, AP Business Writer

SILVER SPRING, Md. (AP) — More Americans signed contracts to buy homes in August, suggesting the hot U.S. housing market will continue to churn well into fall.

The National Association of Realtors said Wednesday that its index of pending sales rose 8.8% to a record high of 132.8. An index of 100 represents the level of contract activity in 2001. It had sunk to a low of 69 in April, when buyers and sellers were sidelined as the coronavirus swept through the U.S.

Contract signings are a barometer of finalized purchases over the next two months, so this month’s numbers point to continued strong sales into October.

The housing market has been one of the highlights of the U.S. economy, which is still trying to get back its pre-virus momentum. Contract signings are now 24.2% ahead of where they were last year, after falling

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U.S. pending home sales race to record high in August

FILE PHOTO: A home for sale sign hangs in front of a house in Oakton, on the day the National Association of Realtors issues its Pending Home Sales for February report, in Virginia March 27, 2014. REUTERS/Larry Downing

WASHINGTON (Reuters) – Contracts to buy U.S. previously owned homes surged to a record high in August, suggesting housing market activity was gathering speed amid record-low mortgage rates.

The National Association of Realtors said on Wednesday its Pending Home Sales Index, based on contracts signed last month, jumped 8.8% to an all-time high of 132.8 last month. Economists polled by Reuters had forecast pending home contracts, which become sales after a month or two, rising 3.4% in August.

Pending home sales increased 24.2% from a year ago. The housing market has pressed ahead even as the COVID-19 pandemic has thrown millions out of work. The unemployment burden has fallen disproportionately on low-wage

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Sales of single-family homes recorded in Sonoma County for the week of August 16

One hundred and ten single-family homes sold in Sonoma County during the week of Aug. 16 ranging in price from $271,000 to $5.5 million.

Topping our list of real estate transactions this week was 1580 Castle Road in Sonoma which sold for $5,500,000 on Aug. 21. This five bedroom, six bathroom, 6,886 square foot residence featured a gourmet kitchen, great room, pool and a gentleman’s vineyard.

See what homes are selling for near you.

Cazadero

147 Magic Mountain Road, $271,000

12 Silvia Drive, $431,000

Cloverdale

108 W. Brookside Drive, $285,000

111 Douglas Fir Circle, $634,000

404 Clover Springs Drive, $720,000

227 Vista View Drive, $820,000

Cotati

8811 Poplar Ave., $1,216,500

Forestville

11870 Hillcrest Ave., $400,000

Guerneville

14543 Cherry St., $345,000

14918 Drake Road, $400,000

15356 Orchard Road, $451,000

14033 Woodland Drive, $816,000

Healdsburg

315 Second St., $1,450,000

Jenner

10637 Highway 1, $660,000

22165 Umland Circle, $782,000

Penngrove

2082 Curtis Drive,

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August New Home Sales Confirm That The Long Leading Housing Sector Has Been Surging

Introduction

Housing is a long leading indicator for the economy overall; i.e., it typically peaks over a year before the economy does as a whole, and is also usually one of the first sectors to rebound during a recession.

Thursday morning’s report on August new home sales certainly fit that mold.

Near-15-year high in new home sales is strong confirmation that the long leading housing sector has been surging

As I wrote last week, when housing starts and permits were reported, historically, interest rates have led housing sales and starts, which in turn lead prices, which in turn lead inventory.

Here’s the updated look at mortgage interest rates since the beginning of 2011, measured YoY, vs. single-family housing permits (the least volatile metric), also measured YoY:

Thursday morning the Census Bureau reported new home sales for August. There are two important facts about new home sales:

1. They are the

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US hotel profitability improvements slow in August


25 SEPTEMBER 2020
9:06 AM

Overall hotel profitability was positive for the second consecutive month, according to STR’s August P&L report.

BROOMFIELD, Colorado—Improvements in U.S. hotel profitability metrics slowed in August, according to STR‘s latest monthly P&L data release.

In a year-over-year comparison with August 2019, the industry reported the following:

• GOPPAR: -91.3% to US$6.90
• TRevPAR: -74.5% to US$55.72
• EBITDA PAR: -112.1% to US$-6.96
• LPAR (Labor Costs): -64.4% to US$27.19

“Overall profitability (GOPPAR) remained in positive territory for a second straight month, but the incremental improvements we had seen over the previous two months slowed,” said Raquel Ortiz, STR’s assistant director of financial performance. “Even though August produced the industry’s lowest year-over-year demand decline since March, revenue was stagnant. TRevPAR for full-service hotels was only 25% of what it was last August, while limited-service properties came in at 38% of last year’s value.”

Full, complimentary

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Sales of new homes surge 4.8% in August

NEW YORK (AP) – Demand for new homes continues to surge despite an ongoing pandemic and lingering anxiety about the U.S. economy. The pace of sales have now reached levels last seen before the Great Recession in 2006.

Sales new homes in August rose by a very strong 4.8% to a seasonally-adjusted annual rate of 1.01 million units, the U.S. Department of Commerce reported Thursday. The jump followed a new home sales spike in July of 13.9%.

The rapid spread of COVID-19 infections in the U.S. this spring quashed sales, but not demand. The pace picked back up in the summer, driving home prices in many places to record highs.

In addition to pent up demand, record low mortgage rates appear to be driving sales far more strongly than most economists had anticipated.

“The August figure is the first reading above 1 million since 2006, so both new and existing

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Nearly 29% of Redfin.com Users Searched For Homes Outside Their Area in July and August

SEATTLE, Sept. 24, 2020 /PRNewswire/ — (NASDAQ: RDFN) — Nationwide, 28.7% of Redfin.com users looked to move to another metro area in July and August, according to the latest migration report from Redfin (www.redfin.com), the technology-powered real estate brokerage. That is up from 27.4% in the second quarter and the highest share since Redfin started tracking migration in 2017. The analysis is based on a sample of more than two million Redfin.com users who searched for homes across 87 metro areas so far in the third quarter of 2020.

The national housing market is booming as the coronavirus pandemic changes what people look for in a home, such as more space for work and family life. Those are also reasons why people are continuing to leave expensive coastal areas like New York, San Francisco and Los Angeles for places like Sacramento and Austin, where homes

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U.S. new home sales vault to near 14-year high in August

FILE PHOTO: A new home is seen under construction in Los Angeles, California, U.S. July 30, 2018. REUTERS/Lucy Nicholson/File Photo

WASHINGTON (Reuters) – Sales of new U.S. single-family homes increased to their highest level in nearly 14 years in August, suggesting the housing market continued to gain momentum even as the economy’s recovery from the COVID-19 recession appears to be slowing.

The Commerce Department said on Thursday new home sales rose 4.8% to a seasonally adjusted annual rate of 1.011 million units last month, the highest level since September 2006. New home sales are counted at the signing of a contract, making them a leading housing market indicator.

July’s sales pace was revised upward to 965,000 units from the previously reported 901,000 units. Economists polled by Reuters had forecast new home sales, which account for about 14% of housing market sales, slipping 1% to a rate of 895,000-units.

The report

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