The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) was up 0.4% in September, 2023. The all items index was up 3.7% for the 12 months ending in September (same as August). The index for shelter was the largest contributor to the monthly all items increase. Click here to read the full release at the Bureau of Labor Statistics.
Author: Brad Beckett
Brad Beckett
Director of Education & Outreach, National Real Estate Investors Association
The Daily Infographic says there are many great fast-food chains in America and they’ve become a staple of our culture – they rightly say there’s something for everyone! So, which ones are really the most popular, based on the bottom-line? Today’s chart illustrates just that….and if you’ve ever seen the crowds and the clockwork efficiency of a Chick-fil-A during lunchtime, you’ll know why they’re in first place. As always, stay safe and have a Happy Friday!!! Hat tip to the Daily Infographic.
Recent analysis from the Associated General Contractors said the construction industry added 11k jobs in September as unemployment rates for the sector remained at historically low levels, prompting contractors to raise pay faster than for other jobs. In addition, the AGC pointed out that too few future workers are exposed to construction as a career opportunity, despite the fact that the profession pays very well and typically does not require workers to have a college degree. “Construction firms have plenty of projects but a dip in nonresidential employment last month shows how hard it has been to find enough skilled…
Recent analysis from the NAHB’s Eye on Housing says that $132 billion in taxes were paid by property owners in Q2 of 2023. They point out that in the four quarters ending Q2 2023, state & local governments collected $727 billion of property tax revenue, representing a 7.4% increase over Q2 2022. In addition, property taxes accounted for 37% of state & local tax receipts in the four quarters ending Q2 2023, up from 35.6% the prior quarter. “The share of property tax receipts among the four major tax revenue sources naturally changes with fluctuations in non-property tax collections. Non-property…
According to the latest CoreLogic Home Price Insights (HPI) report, home prices nationwide increased year over year for the 139th consecutive month in August. In addition they report that the median sales price for a U.S. single-family home was $375k. “While continued mortgage rate increases challenge affordability across U.S. housing markets, home price growth is in line with typical seasonal averages, reflecting strong demand bolstered by a healthy labor market, strong wage growth and supporting demographic trends.” Said Selma Hepp, chief economist for CoreLogic. Click here to read the full report at CoreLogic.
Realtor.com says retirement is a time for relaxation, for revitalization, for being around friends & loved ones, and for filling your days with the things you love most. Indeed… And with that in mind they put pen to paper to come up with their list of 2023’s “Most Affordable Retirement Meccas.” “Some of them you already know, but others are likely less familiar: From the powdered-sugar beaches of Florida to the expansive deserts of Arizona, and even stretching to the lush Pacific Northwest, these places offer plenty of amenities for seniors at prices that won’t deplete their nest eggs….” “Many…
In a recent media release, Redfin says they are taking steps to “end our support of the National Association of Realtors.” The cite as their reasons NAR policies requiring a fee for the buyer’s agent on every listing and a pattern of alleged sexual harassment. Redfin also says it will require their brokers and agents to leave NAR “everywhere we can.” In addition, back in June, Redfin resigned their national board seat at the NAR. “We’ve had many meetings with NAR execs to explore compromises on the policies that would let us continue our support. Since a Redfin-wide initiative to…
According to the U.S. Department of Labor’s Bureau of Labor Statistics, total nonfarm payroll employment increased by 336k, in September 2023, with the unemployment rate staying the same at 3.8%. Interestingly, the BLS said government employment increased by 73k, well above the average monthly gain of 47k over the prior 12 months. Click here to read the full report at the Bureau of Labor Statistics.
The U.S. government is reporting that total construction spending in August, 2023 was at a seasonally adjusted annual rate of $1,983.5 billion, which is 0.5% higher than July’s revised estimate and 7.4% higher than one year ago. Residential construction came in at a seasonally adjusted annual rate of $879.9 billion in August, which is 0.6% higher than July’s revised estimate. Click here to read the full report at the U.S. Census Bureau.
The Visual Capitalist says there’s an old saying: everyone thinks that they’re middle-class. However, they say that many of them are actually in the top 1%. Citing data from SmartAsset, today’s graphic illustrates hoe much household income is needed in each state to be part of this exclusive club. As always, stay safe and have a Happy Friday!!! Hat tip to the Visual Capitalist.
