
💼 News Update
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🏡 Zip-a-dee-doo-dah! Realtor.com's hottest ZIP codes in the U.S. highlight affordable areas in Ohio, Missouri, and Indiana, with Gahanna, Ohio, topping the list — Inman
💼 Gray-haired and Hired: Seniors are increasingly returning to work due to rising living costs, with over 25% of Fort Lauderdale's senior population now employed — HW
🏡 A Mixed Bag: Existing home sales show modest growth but remain below last year's levels, with high prices and low inventory persisting despite increased choices for buyers and potential relief from falling mortgage rates — HW
📊 Not So Labor-ious? The U.S. labor market may be weaker than initially thought, with total payroll employment potentially overestimated by 818,000 jobs from April 2023 to March 2024 — NAHB
📉 Job Correction: U.S. job growth figures for Spring 2023 to Spring 2024 were revised downward by 818K, indicating a cooler labor market and influencing future Federal Reserve interest rate decisions — Inman
🏠 Deal or No Deal? A record number of U.S. homebuyers are backing out of real estate deals due to high housing costs and economic uncertainty, despite slight declines in mortgage rates and increased housing inventory — KY3
🏦 Fed's Rate Cut: Powell signals imminent interest rate cuts at Jackson Hole, potentially lowering mortgage rates and revitalizing the real estate market — Realtor.com
🏠 Home-conomics: Existing home sales inch up 1.3% in July, marking a steady recovery despite ongoing market challenges and uncertainties — Zillow
🏗️ Building Suspense: Homebuilders outperform S&P 500 despite challenges as experts debate housing shortages and zoning reforms amidst political contrasts — CNBC
🏗️ Middle Ground Missing: Construction of small multifamily properties (2-4 units) remains stagnant, making up only 3% of total multifamily production compared to 11% pre-Great Recession — NAHB
🏠 Home Truths: Census data on homeownership may be significantly overstated, as individual ownership rates are lower than household rates, especially among younger adults — Globe St
🏠 Eviction Revolution: Philadelphia's innovative eviction diversion program reduces filings by 41% compared to pre-pandemic levels, becoming a model for other cities despite some landlord concerns — CRE Daily