Housing Market Review (November, 2017) – A Tax-Driven Day of Angst Transforms Into Another Unrelenting Rally

The last Housing Market Review covered data reported in October, 2017 for September, 2017. At the time, I lamented having too small an exposure to home builders while the entire sector rallied nearly non-stop. I was counting on seasonal patterns to deliver at least one buyable dip ahead of the seasonally strong period starting in … Read more

San Jose, California Makes U.S. Housing History

The National Association of Realtors (NAR) delivered some history-making news in its quarterly Metropolitan Median Area Prices and Affordability and Housing Affordability Index for the second quarter of 2016. According to the NAR “…for the first time ever, a metro area – San Jose, California – had a median single-family home price above $1 million.” … Read more

Housing Market Review – Slowing Momentum (March, 2016)

The last Housing Market Review covered data released in February, 2016. At the time, sentiment and data ahead of the Spring selling season was not as strong as I had anticipated. The iShares US Home Construction ETF (ITB) has gained little since then and has even stalled out at resistance at its 200-day moving average … Read more

Housing Market Review – A Struggle for Rebirth Ahead of Spring (February, 2016)

The last Housing Market Review covered data released in January, 2016. At the time, I warily looked at a nervous market and insisted that the steep decline in the iShares US Home Construction ETF (ITB) and individual home builder stocks presented a great buying opportunity. I was conservative in my expectations including looking out to … Read more

Supply/Demand Imbalances Continue Building in the Housing Market

(This is an excerpt from an article I originally published on Seeking Alpha on February 24, 2013. Click here to read the entire piece.) There were a lot of interesting nuggets in the January existing home sales report from the National Association of Realtors (NAR). The continuing decline in housing inventory has really caught my … Read more

NAR Forecasts No Recovery for Commercial Real Estate This Year

The National Association of Realtors® (NAR) released its latest projections for commercial real estate (CRE). The outlook remains grim as the NAR forecasts no recovery in CRE this year. Rents are expected to decline across all segments (although slightly lower than last year’s rent declines) as vacancy rates remain extremely high. CRE is not expected … Read more