EWRE News and Press, Invesco S&P 500 Equal Weight Real Estate From 10/28/22

Summary According to the National Association of Realtors, "Pending home sales trailed off for the fourth consecutive month in September." The index for the most recent month is currently 40% below its all-time high. The population-adjusted index is 44% off its high. A close l...

Summary The pandemic caused a surge in household formation, driven in part by remote work and low-interest rates. This is likely to result in an extended period of weak growth in the number of households, with a flow-through impact on the rest of the economy. The housing secto...

Summary Sales of new homes in the U.S. fell in September 2022. July 2022 still ranks as the peak month for the market capitalization of new homes during the Biden administration. The new home industry already hasn't registered any sustained growth since December 2020. ...

Summary Employment for nonresidential construction is up, for both actual building activity as well as specialty trades. Warehouses have been particularly strong thanks to increased online sales. Manufacturing construction has grown substantially in the past year, up 22%. ...

Summary Sales of new single-family homes fell back in September. The median sales price of a new single-family home was $470,600. The total inventory of new single-family homes for sale rose 1.1 percent to 462,000 in September. By Robert Hughes Refi...

Summary This morning's release of the September New Home Sales from the Census Bureau came in at 603K, down 10.9% month-over-month from a revised 677K in August. The Census Bureau's mid-month population estimates show a 77% increase in the US population since 1963. Today's 30-...

Summary The housing market appears to be dissolving quickly. Housing starts in September also fell 8.1% from August and were below Street expectations (-7.2%). Another name that I like as a short that continues to puzzle me is ABNB ($119). For further det...

Summary A super-strong dollar, collapsing housing and commodity prices, and a huge increase in real interest rates were all but shouting at the Fed to back off and give the economy some time to digest things. If the Fed had been paying attention to the slowdown in M2, they would h...

Summary US house prices recorded a second consecutive MoM decline in August, something that the market hasn't experienced since early 2012. Demand is weakening as mortgage rates surge while housing inventory for sale is on the rise, meaning further large price falls are probable. ...

Summary Subprime loan delinquency rates are higher than the 2008 recession levels today, with unemployment still near all-time lows and the layoff cycle just beginning. But the Fed won't rescue the housing market. Risk markets are likely to rally on news of slower monetary tig...