Latest news with #housingdata
Globe and Mail
a day ago
- Business
- Globe and Mail
Housing Numbers Come in Mixed
Homebuilding news takes center stage this morning — in fact, this week has important housing data all through it — with Housing Starts and Building Permits for July pointing in two distinctly different directions. Pre-market futures were already showing some improvement from overnight lows, but have pointed north on the new data. Housing Starts, Building Permits Point to Big Differences Last month, Housing Starts came in at multi-month highs to 1.43 million seasonally adjusted, annualized units — well above the 1.29 million projected and the upwardly revised 1.36 million from the previous month. It's the highest level since February and the third-best month of the past 12, even as July mortgage rates remained high. Building Permits, on the other hand, came in much lower than estimated: 1.35 million, beneath the 1.39 million analysts were looking for and the identical downwardly revised 1.39 million from the prior month. It's the fourth-straight monthly downward move. The last time we saw new permits — a proxy for future housing starts — this low, we were in the Covid pandemic. The answers here are clear once we look beneath the surface: Multi-family housing grew by a whopping +11.6% month over month, +27% year over year. This, even with massive supply on the market (relative to single-family housing supply, anyway), which strongly suggests demand for apartment/condo living is still very high. Compare this with Single-family housing, which is still positive overall, but well off the Multi-family pace: +2.8% month over month and +8% year over year. As we mentioned, July mortgage rates were higher than they are currently, which not only keeps new potential single-family homebuyers on the sidelines, but it also keeps existing home sales at very low levels. We'll see new Existing Home Sales numbers for July this Thursday morning. Home Depot Posts Slight Q2 Misses Speaking of housing development, home improvement retail giant Home Depot HD has released Q2 results ahead of today's opening bell, and the company came up slightly short on both top and bottom lines. Earnings of $4.68 per share were 3 cents short of the Zacks consensus, for a -0.64% earnings surprise. It's also the second-straight earnings miss for Home Depot. Revenues of $45.38 billion in the quarter was also a slight miss from expectations, by -0.5%, though still up nearly +5% year over year. The company also kept its fiscal year guidance in place, which has helped boost the stock +1.6% in today's early trading. This is more than double what the shares have earned year to date. What to Expect from the Stock Market Today Fed Vice Chair Michelle Bowman — one of two dissenters at the last Federal Open Market Committee (FOMC) meeting last month, as she voted for a 25 basis point (bps) interest rate cut — makes a couple of appearances today. This is a day ahead of the release of the minutes from that FOMC meeting. Analysts will be parsing language and reading tea leaves to depict how likely a rate cut may be coming at the next FOMC meeting September 16 and 17. The housing narrative continues after today's close, when luxury homebuilder Toll Brothers TOL reports fiscal Q3 earnings results. Estimates are for a slight year-over-year pullback on the bottom line (-0.28%) on revenues +4.56% higher than the year-ago quarter. Toll Brothers has beaten earnings estimates in three of the past four quarters. Radical New Technology Could Hand Investors Huge Gains Quantum Computing is the next technological revolution, and it could be even more advanced than AI. While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure. Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power. Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity. See Top Quantum Stocks Now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Home Depot, Inc. (HD): Free Stock Analysis Report Toll Brothers Inc. (TOL): Free Stock Analysis Report
Bloomberg
18-07-2025
- Business
- Bloomberg
Bloomberg Businessweek Daily: Trump Signs Stablecoin Bill
Today's show features: Frank Speiser, CEO of Metafide on 'Crypto Week' and the US Congress passing the first federal legislation to regulate stablecoins Katie Hubbard, EVP of Capital Markets for Walton Global on housing data and the US real estate market Bloomberg News White House Editor Jordan Fabian with the latest from the White House including and President Trump seeking the release of grand jury testimony from the prosecution of Jeffrey Epstein Gerard Cassidy, Head of US Bank Equity Strategy and Large Cap Bank Analyst at RBC Capital Markets with a recap of this week's financial sector earnings
Bloomberg
15-07-2025
- Business
- Bloomberg
US Home Prices Are Losing Steam With Most Big Markets Below Peak
The US housing market is close to stalling out, with prices in more than half the country's top 100 housing markets now below their peak, according to the latest data from Intercontinental Exchange. The annual nationwide price increase slowed to 1.3% in June, the slowest pace in two years and down from 1.6% the previous month, ICE's indexes show. Out of the biggest 100 markets, 51 are now below-peak and almost one-third have fallen at least a percentage point from recent highs.
The Independent
07-07-2025
- Business
- The Independent
Business news live: Stock markets set for volatility with end of Trump's tariff pause near
Following a week where concern over the future of Rachel Reeves ' job led to bond yields shooting up and Donald Trump signed his Big Beautiful Bill, this week brings with it the latest Halifax housing data and the end of the US president's 90-day tariff pause. It's the latter which may well be the side focus of almost everything else this week, with higher volatility expected in stock markets, currency markets and potentially bond markets too as investors grapple with the possible outcomes and nations try to seal trade agreements with the biggest economy on the planet. The UK will also get GDP estimates later this week, while all eyes will be on Nvidia to see if the chipmaker continues its upward trajectory to become the world's first $4tn public listed company, having hit new highs recently in its share price.
Yahoo
28-06-2025
- Business
- Yahoo
Sussex County home listings asked for more money in May - see the current price here
The median home in Sussex County listed for $559,000 in May, up 1.7% from the previous month's $549,950, an analysis of data from shows. Compared with May 2024, the median home list price decreased 2.4% from $572,450. The statistics in this article only pertain to houses listed for sale in Sussex County, not houses that were sold. Information on your local housing market, along with other useful community data, is available at Sussex County's median home was 2,175 square feet, listed at $260 per square foot. The price per square foot of homes for sale is mostly unchanged from May 2024. New Castle County : Home listings asked for more money in May - see the current median price here Kent County: Home listings asked for less money in May - see the current median price here Listings in Sussex County moved slowly, at a median 57 days listed compared with the May national median of 51 days on the market. In the previous month, homes had a median of 49 days on the market. Around 660 homes were newly listed on the market in May, a 7.8% increase from 612 new listings in May 2024. The median home prices issued by may exclude many, or even most, of a market's homes. The price and volume represent only single-family homes, condominiums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales. Across the Philadelphia-Camden-Wilmington metro area, median home prices rose to $385,000, slightly higher than a month earlier. The median home had 1,616 square feet, at a list price of $233 per square foot. In Delaware, median home prices were $499,000, a slight increase from April. The median Delaware home listed for sale had 2,100 square feet, with a price of $238 per square foot. Throughout the United States, the median home price was $440,000, a slight increase from the month prior. The median American home for sale was listed at 1,840 square feet, with a price of $234 per square foot. The median home list price used in this report represents the midway point of all the houses or units listed over the given period of time. Experts say the median offers a more accurate view of what's happening in a market than the average list price, which would mean taking the sum of all listing prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high price. The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu. Our News Automation and AI team would like to hear from you. Take this survey and share your thoughts with us. This article originally appeared on Delaware News Journal: Sussex County home listings asked for more money in May
