MARKET INDICATORS SNAPSHOT

WEEKLY

• Mortgage Rate (30-Year Fixed): 3.24 (as of 12/14)

MONTHLY

• Existing Home Sales: +0.8% (October 2021)
• New Residential Sales: +0.4% (October 2021)
• Median Sales Price for New Houses Sold: $407,700 (October 2021)
• Construction Spending: +0.2% (October 2021)
• New Residential Construction: -0.7% (October 2021)

QUARTERLY

• Homeownership Rate: +65.4% (3Q21)
• Rental Vacancy Rate: +5.8% (3Q21)

Sources: NAR, BLS, Federal Reserve Bank

PROPERTY MARKET

• Int’l. buyers to fuel 2022 luxury real estate demand

Most of these investors will come from the Middle East and Asian regions teeming with high-net-worth buyers.

• REITs well positioned for recovery in 2022

REITS are expected to have a 19% upside potential that make an annualized 12 to 15% total return in the coming year.

• Flood risk: economic threat to commercial properties

 A recent survey by nonprofit research group reveals that structural damage from flooding is projected to cost $13.5 billion in 2022

HOUSING TRENDS

• 2022 Best Places for Real Estate Investment

Leading the pack is Portland in Maine where home prices are estimated to grow by 10%. 

• Real estate market sets 10 new records in 2021

The typical U.S. home sold for nearly $400,000. Plus nine more records set in 2021.

HOUSING VALUES & RENT

• Median home sale price set record high

The value rose 14% year-over-year to $360,250. It was up 30% compared to the recorded value in 2019.

• Rent up again in 2022

Analysts agree regarding rent hike forecasts in the coming year with rents for single-family homes across the country hitting more than 9% on average in August 2021 YoY.

ECONOMY & EMPLOYMENT

• 31,000 construction jobs added in November

Nonresidential construction firms sustained their three-month streak adding 20,800 employees. Residential construction jobs, on the other hand, added 10,300 employees.

• CPI up by 6.8% YoY

The Consumer Price Index for All Urban Consumers (CPI-U) was 0.8% in November 2021.

• Retail activity surges

Online shopping is projected to rise by 10% year-over-year to $207 billion.