Date: 29 September, 2020 | By : Taro Chellaram, CCIM
U.S. - More Strong Housing Numbers
- Existing home sales rose 2.4% to a 6.0-million unit annual pace. The surge in sales further depleted inventories and pushed prices sharply higher.
- The IHS Market Purchasing Managers’ survey noted that manufacturing conditions improved in September.
- New home sales soared 4.8% to
Date: 28 September, 2020 | By : Taro Chellaram, CCIM
Global Mobility Report
Key takeaways from this week (Google data through September 13, Apple data through September 21)
- European activity is surging. Germany and Italy are leading the way, but France is close behind despite an ongoing rise in cases. The Google data are a bi
Date: 22 September, 2020 | By : Taro Chellaram, CCIM
A March survey by the Federal Reserve Bank of Dallas found most exploration firms need West Texas Inter-mediate (WTI) at $49 per barrel or higher to profitably drill a well. EIA doesn’t forecast WTI to reach that level until late in ’21. And Rystad Energy doesn’t see drilling activity returning to last year’s level for at least f
Date: 19 September, 2020 | By : Taro Chellaram, CCIM
U.S. - First Impressions Are Not Always Right
The details were generally more favorable. The retail sectors hurt most by the pandemic saw gains in August, factory output is growing and soaring homebuilder confidence suggests soft construction data this week may be transitory. For details on the Fed meeting this week, see Interest Rate Watch on page 6. On the face of th
Date: 15 September, 2020 | By : Taro Chellaram, CCIM
U.S. - Labor Focus
- In the holiday-shortened week, analysts’ attention remained on the progress of the labor market. Recent jobless claims data remain stubbornly high and point to a slowing jobs rebound.
- Aside from claims, inflation data were also a highlight this week. Prices continued to pick up in August, but we expect it will be
Date: 14 September, 2020 | By : Taro Chellaram, CCIM
A Faster, but Still Far From Complete, Recovery
Although the recovery from the COVID recession is still far from over, the U.S. economy is bouncing back faster than many expected. The third quarter’s rebound now looks to be even stronger than estimated last month, with GDP increasing at a roughly 25% annualized pace.
Date: 12 September, 2020 | By : Taro Chellaram, CCIM
U.S. - Jobs Rebound Continues, But Signs of Moderation Ahead
- Employers added jobs for the fourth consecutive month in August, bringing the total number of jobs recovered from the virus-related low to 10.5 million. Although the labor market continued to improve, the pace of job growth is moderating.
- The one million private jobs added is do
Date: 29 August, 2020 | By : Taro Chellaram, CCIM
U.S. - Q3 PCE Rebound in the Cards, Outlook More Uncertain
- After a revised look at GDP this week suggested the second quarter may not have been quite as bad as first estimated, attention shifts to the current quarter. Fresh data this week shed light on the outlook for consumer spending.
- The bounce in Q3 consumption is looking better-than
Date: 26 August, 2020 | By : Taro Chellaram, CCIM
“How much of Houston’s economy is tied to energy?”
“Is Houston less dependent on energy than it was 10, 20 or 30 years ago?”
Before answering either question, one must first define the ind
Date: 22 August, 2020 | By : Taro Chellaram, CCIM
U.S. - Bringing Down the Hammer
- Despite indications of lost momentum elsewhere, residential construction activity is picking up steam. A key survey shows confidence among home builders in August tied an all-time high set in 1998 and housing starts figures released this week handily exceeded expectations.
- Existing home sales rose 24.7% in