Homeownership Rate Holds Steady; Vacancy Rates Hit 38-Year Low
The nation’s homeownership rate held relatively steady at 65.5 percent in the fourth quarter, the Census Bureau reported this week. But analysts said the rate could be somewhat higher, given the current shortage of homes available for sale.
Analysts Upgrade U.S. Hotel Forecast
Underpinned by continued average daily rate improvement, analysts from STR and Tourism Economics slightly upgraded their U.S. hotel sector forecast.
Millennial Demand Drives Price Increases in Kid-Friendly Neighborhoods
Zillow, Seattle, said home values are growing fastest in areas with the highest share of kids, reflecting the impact Millennials are having on family-friendly neighborhoods with a shortage of available homes.
Initial Claims Down 23,000
Ahead of this morning’s employment numbers, the Labor Department reported initial claims for unemployment insurance fell by 23,000 last week.
