Per Data, The Best Time to Sell a Home is....

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Time is a created thing. To say ‘I don’t have time’ is to say ‘I don’t want to.’

― Lao Tzu

Economic Watch: Fed Holds Rates Steady; Signals Caution link

• The Federal Reserve maintains the federal funds rate at 5.25% to 5.5%, suggesting a cautious approach towards rate cuts in 2024. This decision reflects ongoing concerns about inflation and the overall economic landscape.

• Reductions in the Fed's balance sheet are slowing down, with the runoff of Treasury securities scaled back significantly. This indicates a shift towards a more supportive monetary policy environment, potentially easing bond market volatility and enhancing asset prices.

• Despite high interest rates, there are expectations for a modest recovery in real estate capital markets activity later this year. Economic resilience, coupled with anticipated easing in interest rates, could foster growth in office and industrial leasing sectors.

Home Prices Up 6.4% in February link

• The S&P CoreLogic Case-Shiller U.S. National Home Price Index rose by 4.98% in February, marking the fourth consecutive monthly increase. This growth follows a 3.73% increase in January, reflecting a consistent upward trend in the early months of 2024.

• On a year-over-year basis, the Index recorded a 6.38% gain in February, the highest since November 2022. This continuous rise since June 2023 indicates a robust recovery in the national home price market.

• Among 20 major metro areas, Seattle, Chicago, and New York exhibited the highest home price appreciations in February, with Seattle leading at 13.58%. Only Tampa reported a decline, with a -3.42% drop in home prices, showcasing diverse regional market dynamics.

The Best Time to Sell a Home is: link

• May offers the highest seller premium of 13.1% according to recent ATTOM data. Homes listed in May can significantly benefit from this timing, maximizing seller returns.

• February, April, and June also show impressive seller premiums, over 12% each. Selling during these months could yield better than average financial outcomes for homeowners.

• The best day to sell a home is May 27, with a 16.2% premium. Highlighting specific optimal selling days can guide sellers in timing their market entry for maximum profit.

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Large Decline for Open Construction Jobs in March link

• In March, open construction jobs saw a significant decline, dropping from 456,000 in February to just 274,000. This is a notable decrease compared to the same period last year when there were 291,000 open positions, signaling potential ongoing issues in the sector.

• The overall labor market appears tighter, with total job openings across all sectors decreasing to 8.49 million from 9.62 million a year ago. Despite the Federal Reserve's efforts to control labor market conditions, the demand for skilled workers remains high, which complicates efforts to curb inflation.

• The construction sector's layoff rate has halved from last year, falling to 1.8%, while the hiring rate also decreased to 4.1% from 5.2% previously. This reduction in layoffs and hiring reflects a cautious approach in a sector experiencing significant fluctuations in demand and supply.

See How Much It Costs To Buy a Home in the Nation's Top 10 School Districts link

1. BASIS Peoria - Peoria, AZ - $585,000

2. Signature School - Evansville, IN - $189,900

3. Tesla STEM High School - Redmond, WA - $1,349,950

4. Julia R. Masterman Secondary School - Philadelphia, PA - $265,000

5. Payton College Preparatory High School - Chicago, IL - $395,000

6. The School for the Talented and Gifted - Dallas, TX - $460,000

7. Academic Magnet High School - North Charleston, SC - $335,000

8. International Academy - Bloomfield Hills, MI - $849,450

9. Gwinnett School of Mathematics, Science and Technology - Lawrenceville, GA - $429,900

10. Riverside Stem Academy - Riverside, CA - $699,945

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Global Hotel Investor Intentions Survey 2024

Small Midwest Market with Ultra Strong Apartment Occupancy 

Latest Proptech Funding Rounds

Charted: Trust in Government Institutions by G7 Countries

That's all, folks.

Cheers,

Vidit

P.S - Read past newsletters here

vidit