About CoreLogic Data Research CoreLogic develops this report using up-to-date materials and labor costs. CoreLogic’s team of analysts continuously researches hard costs such as labor, material, and equipment, including mark-ups. CoreLogic updates its database every month accordingly. Our research also covers soft costs, such as taxes and fringe benefits, for reconstruction work performed as part of the insurance industry. CoreLogic monitors demographics and econometric statistics, government indicators, and localization requirements, including market trends from thousands of unique economies throughout the U.S. Other factors in this process include the following: Wage rates for more than 85 union and non-union trades Over 100,000 construction data points Productivity rates and crew sizes Building code requirements and localized cost variables Additionally, we validate cost data by analyzing field inspection records, contractor estimates, phone surveys, and both partial and complete loss claim information. Please complete the online form to provide feedback or request information on any …

Storm Darragh brought hurricane-force winds and infrastructure disruptions to Western Europe. Power outages, travel chaos, and damages were reported across the UK, Ireland, France, and other nations. Storm Darragh formed in the Atlantic last week and was officially named on Thursday, December 5 by The UK Met Office. It is the fourth named storm of the 2024-2025 season for Western Europe, namely the United Kingdom, the Republic of Ireland, and the Netherlands. The storm was also named Storm Xaveria by the Freie Universität Berlin. The storm formed in the Atlantic mid-last week before traveling eastwards, with the center of the low reaching Ireland early evening on Friday, December 6. This brought an initial swath of strong winds to Ireland and western coastal regions of the UK. The UK Met Office issued rare red alert wind warnings for coastal communities from Anglesey to the North Devon coast. During the early hours of …

[PART 2] In today’s market, real estate professionals need to be just that — professional. That means more than giving the tour, explaining the steps involved in buying and selling a home and giving clients a to-do list to meet deadlines. Agents increasingly will be required to demonstrate their value by helping clients make sound decisions during what is often the biggest financial decision of their lives. To do that, you need to know the property, the neighborhood and local market, backed by the most current and reliable real estate data. Brokers need to become market insiders.  If you aren’t, clients will know. Providing reliable data on your city, its neighborhoods and the property is crucial in building trust. Establishing Trust with Data-Driven Insight To do so, the broker needs access to comprehensive and reliable property data to paint a nuanced picture about the home and neighborhood and compare that …

What will happen to the property market under Trump’s housing policies? The U.S. government touches the lives of nearly everyone living within its borders. Therefore, when a key position — like the current sitting president — changes, people pay attention.  The relationship between the U.S. federal government and lower-level authorities is pivotal in shaping how policies are implemented and how services are delivered. Naturally, the enormous influence of the federal government on daily life has many asking: As the incoming Trump administration prepares to hit the ground running, what does the future look like for state and local governments?   With each new presidential administration comes a shift in priorities, resources, and regulations, all of which trickle down to impact state and local governments.  In the property industry, those changes will range across touch points, including:  Keep Pace With the Property Market Property Pulse Newsletter A Republican-Controlled Government Will Influence Trump …

Redfin’s economists expect there will be more home sales in 2025, largely due to pent-up demand. But some would-be homebuyers will still be priced out, with home prices climbing and mortgage rates remaining near 7%. Rental prices, on the other hand, should stay flat while wages increase, improving affordability for renters. Politicians from both sides of the aisle have pledged to lower housing costs for working-class Americans and build more homes; we are hopeful that will happen over the next several years.  Prediction 1: Home Prices Will Rise 4% in 2025 We expect the median U.S. home-sale price to rise steadily throughout 2025, ending the year 4% higher than it was in 2024. Prices will rise at a pace similar to that of the second half of 2024  because we don’t expect there to be enough new inventory to meet demand.  Rising prices are one factor that will keep homeownership …

According to the latest Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), home prices were up 4.3% from Q3 2023 to Q3 2024.  The FHFA HPI is the nation’s only collection of public, freely available house price indexes that measure changes in single-family home values based on data from all 50 states and over 400 American cities that extend back to the mid-1970s. “U.S. house price growth slowed in the third quarter, continuing a trend that started in the fourth quarter of the previous year…While house prices continued to increase because housing demand outpaced the locked-in housing supply, elevated house prices and mortgage rates likely contributed to the slowdown in price growth”  Said Dr. Anju Vajja, Deputy Director for FHFA’s Division of Research and Statistics. Click here to read the full report at the FHFA.   The post FHFA Says Home Prices Up 4.3% Year-Over-Year appeared first on Real …

According to the latest CoreLogic Single-Family Rent Index (SFRI), U.S. single-family home rental prices are experiencing slower growth in key rental metros which all experienced population spikes during the pandemic.  According to their report, annual U.S. rent growth registered a 2% increase in September, continuing a slowing trend that began in early 2024 but is well below the average annual rent growth of 3.5% that occurred in the decade prior to the pandemic. “Single-family annual rent growth slowed in September to the lowest rate in over four years, and monthly rent growth posted a second month of below-seasonal trend growth, making it clear that single-family rent growth is decelerating…While about one-third of metros showed stronger rent growth than in the previous year, more metros showed decreases in rents than in the prior report…”  Said CoreLogic Principal Economist Molly Boesel. Click here to read the full report at CoreLogic.   The …

A landmark federal case this year upended decades-long practices in how real estate brokers are paid. In the spring, the National Association of Realtors and several of America’s largest residential brokerages agreed to settle the Sitzer/Burnett antitrust lawsuit brought by home sellers in Missouri. The settlement is significant in that it changed compensation rules in most home sales across the U.S. What’s perhaps even more significant to front-line real estate professionals’ long term is that broker compensation — traditionally something of an afterthought in sales — becomes yet another area where the homebuyer and seller will likely take a keen interest. Your clients are likely to question what they’re paying for more frequently. But a strong case can be made that traditional real estate agents and brokers are needed on both sides of the deal. But how? The answer: Solve problems, answer questions using information and analysis they can’t find, …

The National Association of Realtors is reporting that pending home sales rose 2% in in October, 2024.  The NAR’s Pending Home Sales Index (a forward-looking indicator based on contract signings) came in at 77.4 in October.  The NAR says momentum is building…Indeed. “Homebuying momentum is building after nearly two years of suppressed home sales…Even with mortgage rates modestly rising despite the Federal Reserve’s decision to cut the short-term interbank lending rate in September, continuous job additions and more housing inventory are bringing more consumers to the market.”  Said the NAR’s Chief Economist, Lawrence Yun. Click here to read the full report at the National Association of Realtors.   The post Pending Home Sales Up 2% in September appeared first on Real Estate Investing Today.

Pending sales posted a big year-over-year increase this week,  partly because the boom in early-stage homebuying demand we saw just after the election is translating to sales and partly because we’re comparing to a period in 2023 that included Thanksgiving. U.S. pending home sales rose 12.1% year over year during the four weeks ending November 24, the biggest increase since May 2021.  One reason for the outsized increase is that early-stage homebuying demand, including home tours, boomed in the two weeks following the presidential election. But another notable reason is that we’re comparing to a period in 2023 that included Thanksgiving, a time of year when home sales are typically very slow.  We’ll know in the next few weeks whether the increase in pending sales is a Thanksgiving mirage or a sign of sustained strength in the housing market.  Mortgage purchase applications are up 12% week over week, though home …