Officially, unemployment in the U.S. was at about 7.7% in November*. That’s high, but it’s been dropping steadily over the past year, and in Virginia, our rate is about two percent lower. The latest report from ADP found good news: … [Read more...]
Attention All Agents: Start Your 2013 Off Right!
When agents do their business plan each year, they must realize that there is seasonality to our industry – activities will bring a better return on time invested during certain times of the year. A perfect example of this is the prospecting of … [Read more...]
US News: Generation X is to blame for the housing crisis
Who caused the housing crisis? Apparently it was the people who asked to borrow too much — not the people who actually gave it to them. And which group of people asked for more than they should have? Generation X, that’s who. So implies … [Read more...]
Construction Spending
In each Economic Update, the Research staff analyzes recently released economic indicators and addresses what these indicators mean for REALTORS® and their clients. Today’s update discusses construction spending. Very lagging data on construction … [Read more...]
Distressed sales having less of an effect
Happy New Year, etc. etc. There are plenty of predictions about the next year in the housing market, and I’m going to do my best to ignore all of them. But there is (and will be) plenty of actual data to look at. First off, there’s some … [Read more...]
Local Market Reports: Decline in Homeownership
The sharp increase in layoffs and foreclosures across the nation after 2006 has weighed on the homeownership in subsequent years. Not surprisingly, the states with the sharpest declines in their homeownership rates were concentrated in those states … [Read more...]
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