This Week, in Economic News….

The U.S. Census Bureau reported a 22% jump in new construction housing over June, which was 23% higher than May. This is almost 10% higher than July of 2019.


Also up, was the builder confidence index and as published by the National Association of Home Builders (NAHB), we saw a 6-point jump from the previous month, bringing it to 78 points – the highest number since December 1998.


Lastly, the Federal Reserve published Census Bureau data, showing Condo projects of 5 or more units displaying a 56% increase over last month! This is a prime indicator of the housing market, in my opinion, because many times the single-family indexes will rise before the condos see an increase. 

Although January of this year was higher than July, last month was higher than any other month since June of 1986 (a great month and year if I do say so myself!).


Selfishly, it’s that last index that makes me so excited because condo projects with 5 or more units require a Public Report from the Department of Real Estate (which we’re experts at), as well as an HOA Budget (also, experts), and once they’re sold, they require reserve studies (again – we’re experts).


With low rates, low inventory, and the increased demand for suburban and rural areas, many economists are confident that housing will be one of the more buoyant areas of the economy.

Hi, I'm Scott
President

I'd love to learn more about your new development or project. Use the link below to request a proposal.

Latest

Stay up to date.

Sign up our newsletter for latest article and news.
Community Associations and Inflation

Community Associations and Inflation: Strategies for Resilience and Financial Stability

Inflation is a persistent issue that wreaks havoc on the financial health of community associations. From project delays to regular assessment increases and impact on reserve funds, the effects of inflation can be far-reaching and challenging to manage. Community association boards must be proactive in mitigating the impact of inflation to ensure that they can continue to provide necessary services to their members while also planning for future capital projects.

Read More »
Your Go-To for DRE Public Report Processing

Your Go-To for DRE Public Report Processing

If you are a real estate developer in California, obtaining a public report from the Department of Real Estate (DRE) is a crucial step in your project’s success. The public report discloses important information about the development to prospective buyers, such as an overview of the community, the developer’s financial stability, the project’s legal status, the association’s monthly assessments (if any), and the estimated completion date.

Read More »
Reserve Study Misconceptions: Debunked

Reserve Study Misconceptions: Debunked

As an owner or manager of a homeowner’s association or other planned community, it’s your responsibility to ensure that finances are properly managed. Reserve studies are vital for an association to maintain its financial health, as they are required to take place every three years in accordance with CA Civil Code 5550. However, there are several misconceptions about them. We’re going to divulge some of the most common myths about reserve studies and explain why they are untrue.

Read More »
Schedule a Call
Discuss your project or needs with someone from the California Builder Services team.