SRS

The number of buyers who locked in mortgage rates for second homes soared 178% year over year in April, marking the 11th straight month of 80%-plus growth, reports Redfin.Affluent Americans

NEW YORK, NY / ACCESSWIRE / November 4, 2020 / Saras SpA (NYSEArca:SRS) will be discussing their earnings results in their 2020 Third Quarter Earnings call to be held on November 4, 2020 at 4:00 PM Eastern Time.

Based on the latest sales data reported by the U.S. Census Bureau, the preliminary nominal estimate of the market capitalization for new homes was $30.6 billion in August 2020.Perhaps more remarkably, the median sale price of new homes sold in the U.S. fell to an initial estimate of $312,700 in August 2020.With the trend for the sale prices of new homes generally flat to slightly falling over the last two years, the only way the market cap of new homes could increase is because of rising sales volumes.

Senior housing operators have experienced significant losses this year due to COVID-19 as well as the corresponding recession. Operating expenses have also risen, as precautions must be taken to protect this real estate sector's vulnerable residents. However, there is a light at the end of this tunnel of undetermined length, and that light is the rising population of individuals over 75 years old. Cap rates may also rise as development subsides, which will benefit existing senior housing. REITs that use the senior housing operating portfolio structure have been hit the hardest, while those that use triple net leases have done the best.

Housing is a long leading sector of the economy, typically giving us information 12 to 18 months into the future.New home sales are the most leading of all housing metrics, but are very volatile and heavily revised.August new home sales hit the highest level in nearly 15 years.Because they confirm the surge in the less volatile single-family housing permits, the new high is almost certainly a signal rather than a noise, a powerful plus for the economy in 2021.