Home Depot sees home-improvement market declining if consumer demand keeps shifting to services from goods

Home Depot sees home-improvement market declining if consumer demand keeps shifting to services from goods

House Depot Inc. stated Tuesday the home-improvement sector could weaken this year, if client expending retains shifting toward companies from goods, and if inflation carries on to influence demand.

The house-enhancement big
High definition,
-7.06{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}
expects fiscal 2023 internet income and exact-retail outlet gross sales to be about flat with previous yr, however, due to the fact it will take market share from its competition.

Sales could be harm additional if lumber price ranges, which have presently fallen by extra than 50{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} from a 12 months back, go on to decrease.

The ordinary analyst estimate compiled by FactSet for revenue at the time Home Depot reported effects was $158 billion, which implied .4{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} progress, while the FactSet consensus for identical-shop product sales was for a increase of .2{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}.

Main Money Officer Richard McPhail said on the submit-earnings conference connect with with analysts that for about the very first five quarters postpandemic, the corporation observed important growth in the price of the ordinary ticket and selection of transactions, for the reason that property owners took on extra do-it-oneself tasks as they invested far more time at home.

Since about the fiscal second quarter of 2021, McPhail stated product sales ongoing to increase thanks to ticket development, but the range of transactions “steadily normalized” towards prepandemic levels, “as the broader customer economy shifted” from merchandise back to products and services.

“We think that if this change proceeds at its existing pace, the residence-improvement market would be down lower-solitary-digits [percentages],” McPhail explained, according to a transcript offered by AlphaSense.

In the meantime, earnings per share for the 12 months are forecast to decrease in the “mid-one-digit” percentage assortment, as a increased anticipated tax rate and an expense in staff payment weighs on functioning margins.

That was a shock for Wall Road analysts, as the FactSet EPS consensus for the latest fiscal calendar year was $16.70, which was a penny extra than EPS for previous calendar year.

Dwelling Depot’s inventory slid 5.4{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} in morning investing, sufficient to make it the worst performer amid the Dow Jones Industrial Average’s
DJIA,
-2.06{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}
elements. The stock’s $17.26 rate decrease was reducing about 114 details off the Dow’s rate, while the Dow fell 487 details, or 1.4{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}.

The organization also documented just before the open fiscal fourth-quarter EPS that topped expectations, net product sales that arrived up a bit shy and same-store profits that incredibly declined.

Chief Govt Officer Ted Decker mentioned on the article-earnings phone with analysts that by most of fiscal 2022, the company’s “resilient” buyers have been much less selling price delicate that expected in the reality of persistent inflation.

“In the 3rd quarter, we famous some deceleration in selected products and categories which was far more pronounced in the fourth quarter,” Decker claimed, in accordance to an AlphaSense transcript. “This, along with the damaging impact from lumber deflation, led to fourth-quarter comps [same-store sales] that have been somewhat softer than predicted.”

Home Depot’s inventory has slumped 5.1{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} over the past three months and declined 13.3{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} about the earlier 12 months, even though the Dow has eased 1.1{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} the past three months and slipped 2.2{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} the previous calendar year.

Jacksonville housing market sees big slowdown, home purchases fall through at highest rate in nation

Jacksonville housing market sees big slowdown, home purchases fall through at highest rate in nation

JACKSONVLLE, Fla. – The pink-incredibly hot housing current market noticed final year in Northeast Florida is a detail of the past.

New data produced this 7 days by real estate brokerage Redfin reveals house purchases in Jacksonville fell by way of at a increased charge than everywhere else in the region previous thirty day period.

About 30{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of acquire agreements in Jacksonville had been canceled in Oct. It was the second straight month that Jacksonville had the most in the state.

Northeast Florida experienced a large pandemic-fueled growth in housing costs final 12 months and many thanks to low home finance loan prices and thousands of people today flocking to the condition. But dwelling obtain cancellations and other metrics exhibit which is no more time the circumstance.

Jacksonville saw the major 12 months-more than-year boosts in the share of households for sale with value drops past thirty day period, according to Redfin details.

Northeast Florida Affiliation of Realtors (NEFAR) President Mark Rosener said discounts slipping by has a lot to do with new property development and mounting home finance loan fees.

“A good deal of these people went beneath deal 9 months ago, a year back, when curiosity charges are really diverse right now than they were then. And so their payment that they had been on the lookout at nine months back is not the very same,” Rosener reported.

Rosener reported general, he’s witnessed a slowdown in the housing marketplace regionally in recent months.

“So a person of the cautions that I’ve finished about the past few of months is evaluating this year’s stats, to 2021, and to 2020, simply because people two several years were being atypical. It was these kinds of a nuts sector, we understood it would not be sustained,” he stated.

Rosener claimed the housing market place is beginning to search like it did back in 2019 when matters were being far more “normal.” He mentioned which is superior for prospective buyers and sellers.

“Today, homes are remaining on the marketplace a minor little bit lengthier. There is additional to select from. So from a buyer standpoint, there’s some advantages there,” Rosener stated. “From a seller’s standpoint, it’s fewer demanding. Even from a seller’s level of watch, a a number of present condition, it is tense.”

Hunting at NEFAR info for 6 Northeast Florida counties, the median revenue cost for a one-loved ones home was nevertheless 14.5{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} larger than final October at extra than $383,000, but properties are turning out to be more affordable for customers.

Rosener explained it’s still a “seller’s market” but items could stabilize by the stop of up coming year.

“Typically, serious estate economists will say, a five to six-month offer is a balanced industry. It is neither a seller’s or a buyer’s market place. At the moment, we’re in about 3 thirty day period provide, which would point out that we’re nevertheless in a seller’s sector, but all items are relative. This seller’s marketplace is very, quite distinct than it was back again in April, March, February of this yr and all of very last 12 months,” he explained. “Probably by the end of 2023 we will be in a balanced current market.”

Inflation is starting to cool, and Redfin reported potential buyers may return to the current market if the trend proceeds.

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Fannie Mae sees dark days ahead for the housing market

Fannie Mae sees dark days ahead for the housing market

It will get worse for the housing marketplace – and property finance loan marketplace – prior to it gets superior. That is the takeaway from a team of economists at Fannie Mae who slashed their forecast for 2022 property income this week.

“Housing continues to be evidently on the downtrend — and has been for numerous months now — thanks to the merged outcomes of outsized house selling price raises and the important and quick run-up in home finance loan charges,” Fannie Mae’s Chief Economist Doug Duncan claimed in a assertion.

Fannie Mae’s Economic and Strategic Research Group expects total house revenue to lower 16.2{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} in 2022, a further downward revision from July’s projected drop of 15.6{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}.

The most up-to-date forecast also jobs overall home finance loan origination action at $2.47 trillion in 2022, down from $4.47 trillion in 2021. The house loan sector is projected to slip even more in 2023, dropping to $2.29 trillion.

A brutal housing current market has already examined the small business types of house loan loan providers, and it will be a though just before circumstances increase. In the next quarter of 2022, nonbank home finance loan loan providers on average missing $82 for every personal loan, in accordance to the Property finance loan Bankers Affiliation. Combining the two output and servicing operations, only 57{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} of firms in the MBA report had been profitable in the second quarter.

On normal, IMBs created $705 million in origination volume in the 2nd quarter, down from $808 million in the past quarter. Total production profits for IMBs, which features fee earnings, web secondary marking earnings and warehouse distribute, lessened to 335 bps in the 2nd quarter, down from 350 bps a quarter prior. On a for each-mortgage basis, output revenues declined to $10,855 for every personal loan in the next quarter, down a little from $10,861 per mortgage in the to start with quarter.

Quite a few loan providers have been slicing hundreds or hundreds of staffers amid the dip in origination volume.

Fannie Mae forecasters reported that irrespective of home finance loan costs settling in the minimal 5{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} range about the previous thirty day period, current incoming data has led them to revising the house income forecast, notably mainly because of a fall in new house sales.

New properties offered at an annualized rate of 590,000 units in June, the least expensive gross sales speed because April 2020. ESR Group researchers now count on new residence profits to end the yr at 632,000 models, down from 668,000 in past month’s forecast. New dwelling gross sales are now projected to fall 18{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} from previous calendar year, though present residence sales are expected to tumble by 16{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} in 2022 to 5.143 million.

Fannie Mae’s ESR team also reported it expected real gross domestic item expansion for the whole year 2022 and 2023 to continue to be flat from previous thirty day period at .{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} and adverse .4{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}, respectively.

“The continued expectation that real GDP development will be damaging beginning in 2023 is thanks to the put together outcomes of tighter monetary plan weighing on business enterprise and household investment and continue to-elevated inflation weighing on purchaser paying out,” Fannie Mae wrote in the report.

The ESR team wrote that it expects inflation to tick down gradually, ending 2022 at 7.2{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} and 1.8{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} by the stop of 2023.

We’re masking this essential subject at our HousingWire Annual party Oct. 3-5. Register right here to sign up for us in Scottsdale, Arizona.

South Florida Luxury Real Estate Market Sees Rush of Buyers

South Florida Luxury Real Estate Market Sees Rush of Buyers

There is an unprecedented hurry for South Florida household genuine estate. The pandemic accelerated demand from customers throughout the state’s sun-kissed southeastern shoreline as residence purchasers, relocating from places with state own money taxes (primarily New York, New Jersey and California), fueled a remarkable increase in assets values.

House values are up more than 50{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} year-in excess of-year from 2020 to 2021 and rents in Miami alone jumped 31{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} in the exact time frame, per genuine estate agency Redfin.

For those who want to buy in South Florida (from the Palm Shorelines to Coral Gables and factors south), persistence is expected, even additional so if the residence is an ultra-luxury waterfront manse on one particular of the region’s coveted private islands.

“There’s a quite limited supply at the leading tier of marketplace,” says Dina Goldentayer, a real estate agent at Douglas Elliman Miami Beach, who grossed $750 million in income in 2021. “There’s a gap amongst buyers and sellers, and the total of offer flow, thinking of desire.”

To bridge that hole, a lot of deals are brokered off current market, wherever prospective buyers have extremely tiny leverage, she claims, as sellers are not compelled to sell below these situations.

Goldentayer specializes in Miami Seashore, the place the advanced nightlife, substantial-octane life-style, oceanfront residing and calendar year-round high-quality temperature benefits in its possess rarefied pocket of demand from customers and quality pricing.

“It may well consider three strikes to get a home and the purchaser will have to have a willingness to overpay by 10{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9} to 15{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9},” she suggests.

Most in desire are households specifically on the beach front, where values have strike up to $4,000 for each sq.-foot.
“Larger condos and penthouses are in complete upswing,” she provides as prospective buyers see them as viable single-spouse and children household replacements (with the important increase-on of security multi-tales present).

Some apartment towers attract a slew of amusement small business prospective buyers: Faena Residence, Arte Surfside, the Surf Club, 4 Seasons Private Residences and the hanging Zaha Hadid-designed A single Thousand Museum Miami are best of list.

Goldentayer is at the moment repping a 44th floor, 4,600-sq.-ft., 4-bed room, five-bathtub, fifty percent-ground residence at the 60-tale A single Thousand Museum. The designer-furnished device, with a view-prosperous, east to west stream-by means of ground strategy, is shown at $8.2 million.

“There’s no shortage of beautiful condos,” claims Jill Eber of the Jills Zeder Group, a luxury residential agency affiliated with Coldwell Banker Realty.

No matter whether on Biscayne Bay or the Atlantic Ocean, from walkable Brickell north to Bal Harbour and Surfside, multimillion-greenback units and developments proceed to strike the marketplace. However, today’s trophy buy stays an island home on just one of Miami Beach’s guy-created islands.

Jennifer Lopez and Alex Rodriguez famously purchased a $32.5 million mega-manse on Star Island in August 2020. The Jills brokered the area’s priciest single-household dwelling deal: a $75 million nine-bed room, 11-bathtub distribute on a waterfront, 15,000-sq.-ft. whole lot on Star Island.

“Modern residences are really sought following here,” suggests Eber.

She lately detailed 30 Palm Ave., a $43 million Palm Island estate in a guard-gated local community. There’s 100 feet of waterfront and 100-foot boat dock powering the 13,144 sq.-ft. glass and stone visitor household open up to the air contemporary mansion with plentiful drinking water sights.

Trying to find an even additional non-public island, one particular without the need of bridge entry? A quick ferry trip from Miami Seaside is Fisher Island (named for the city’s initial developer) in which two deep-h2o marinas, a 9-gap golfing study course and protection await. Current household listings begin at $3.49 million and go up from there.

Domestic purchasers are mostly snapping up listings, with a reasonable total of new prospective buyers from California, drawn by the truthful tropical weather conditions and favorable tax status, Eber states.

The competitive sector the place desire is outstripping inventory is forcing luxurious house consumers to be inventive and far more flexible than they ever would have imagined, says Douglas Elliman’s
Senada Adzem.

“In the previous, consumers had so many a lot more selections and options,” states the Boca Raton-based agent. “Now they have to be open to other geographic locations or consider properties that will need renovation. And they virtually want to bend above backward to accommodate sellers.”

Goldenthayer puts the coastal genuine estate hurry in viewpoint. “It’s not a stock trade,” she details out. “It’s what it normally takes to reside in your dream property.”

Adzem’s suggestion: “Be organized: manage your anticipations and be prepared to shell out a high quality for a property that you like.”

NYC luxury real estate market sees influx of Russian sellers liquidating fast ahead of possible US sanctions

NYC luxury real estate market sees influx of Russian sellers liquidating fast ahead of possible US sanctions

New York Metropolis real estate brokers have been inundated with Russian consumers on the lookout to privately promote off multimillion-greenback homes by so-referred to as “whisper listings” in a rush to liquidate property amid fears a lot more U.S. sanctions will appear against any person believed to be tied to Russian President Vladimir Putin. 

Dolly Lenz, a luxury true estate agent who’s been in the organization in New York City much more than 35 many years, explained to FOX Business enterprise her agency acquired phone calls from Russian clients on the lookout to probably “whisper listing” among 50 and 70 homes, largely in Manhattan, within the final week. 

Of the Manhattan properties that could be offered beneath the radar, the majority are on Billionaires’ Row, a set of ultra-luxury residential skyscrapers alongside the southern end of Central Park. There are other folks in the West Village, as perfectly as some luxury condominiums on Park Avenue and Fifth Avenue. 

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The attributes range in value from $5 million to $45-50 million in inquiring value, but income could be rushed for far much less relying on how distressed sellers turn into.

Billionaires' Row

The Steinway Tower and Central Park Tower on Billionaires’ Row rise earlier mentioned Central Park, Nov. 9, 2021, in New York Metropolis.  (Getty Illustrations or photos / Getty Illustrations or photos)

‘Depending on sanctions’

“Everybody’s placing feelers out there. They are not pulling the trigger still. They’re having all set to pull the set off. Indicating, ‘Yes, I am going to consider no matter what the best providing can get me’,” Lenz informed FOX Enterprise this week. “That could be what comes down the pike. So genuinely, based on sanctions, and you know exactly where we are with almost everything, that is all we see perhaps is actively playing out.” 

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Lenz explained other Russian entrepreneurs arrived at out to her from states outside the house of New York, like California and Florida, wherever likely sellers are in North Miami and Fisher’s Island, acknowledged for its personal enclaves that turned preferred among the Russian uber-rich all around the slide of the Soviet Union. 

Billionaires' Row West 57th Street

Billionaires’ Row is a extend of extremely-luxurious properties on and all around West 57th St. (FOX Business )

As Putin continues his invasion of Ukraine, President Biden’s Justice Section released a new process drive, KleptoCapture, which has been functioning considering that previous 7 days to enforce sanctions versus Russian felony actors and potentially seize belongings in the U.S. belonging to Russian oligarchs, which include luxurious authentic estate, yachts and personal jets well worth hundreds of thousands and thousands of bucks. 

Loopholes in laws

Last 7 days, Manhattan Borough President Mark Levine termed on the U.S. Treasury Department to add names to the U.S. sanctions record so much more authentic estate in New York Town connected to Russian oligarchs can be seized. By means of present-day loopholes in legislation, these oligarchs are allowed to transfer prosperity to households and good friends devoid of retribution. It’s approximated that there is at least $12 trillion tucked away in offshore accounts, in accordance to human legal rights group World Witness. In New York Metropolis alone, a total accounting of the serious estate holdings exceeds $1 billion in price, Levine said.

There is also issue far too among the Russian elites about access to cash in their bank accounts as major Wall Road money institutions slash ties to Moscow. 

Plaza Hotel

The famous Plaza Resort, a landmark 20-tale luxurious hotel and condominium apartment developing, in 2019. (Getty Illustrations or photos / Getty Photographs)

In neighboring New Jersey, Democratic Gov. Phil Murphy signed bipartisan laws Wednesday clearing the state treasury to develop a record of persons and companies with investments in Russia or Belarus as a way to stop Putin’s “cronies” from securing contracts, tax abatements or performing additional company with the condition. 

A so-termed whisper listing, Lenz defined, means owners speak to realtors to make contact with opportunity purchasers in their rolodex privately and gage how much they would be inclined to pay back. Alternatively of formally listing their house for sale, accomplishing the paperwork and publicly disclosing inquiring price tag, whisper listings give sellers an added perception of privacy by averting acquiring pictures of their property on-line. 

“It is really much extra challenging, time-consuming, and leaves an odd flavor in purchasers’ mouths as to why are we doing it this way? Why is this whisper mentioned?” Lenz reported of dealing with listings under the radar.  “Specially in these periods, anyone wants a offer, but they’re so reticent to jump in.”

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Lenz claimed she can only converse with respect to the 50 to 70 Russian-owned attributes her organization is handling, but these aren’t the only luxurious qualities out of the blue hitting the Manhattan market. 

61 attributes

At least 61 houses have been place up for sale or have had a cost update or some other transform in Central Park South within the last 7 days, a next real estate resource told FOX Organization. 

Central Park South, a micro-neighborhood just a few blocks along 59th Street, amongst Fifth Avenue and Columbus Circle, has prolonged attracted rich Russians and other global buyers. At One particular Central Park South, the constructing famously recognized as The Plaza, there have been at minimum 16 new or up-to-date listings considering that the invasion of Ukraine began Feb. 24. 

These qualities usually variety in rate from $1 million to $28 million. 

That does not necessarily mean all the new or updated listings are owned by Russians. If a Russian proprietor is putting a residence up at a noticeably better benefit to make certain faster than typical motion, that can prompt other sellers to fall in line and compete with the new pricing, the resource said. 

Manhattan’s luxurious actual estate market place has prolonged relied on international expense. Due to the fact she’s been in the small business, Lenz reported, it was initial the Japanese who arrived in the 1980s searching to obtain up luxury properties. Even the Financial institution of Japan obtained houses around the Museum Tower area, she reported. 

Then, about 10 to 15 a long time in the past, wealthy Russians flooded New York City soon after the Soviet Union fell and largely acquired houses all over Billionaire’s Row and more mature luxury properties in the same neighborhood. 

Then Russians became a significantly less frequent clientele in New York City’s luxurious true estate market place. And, in recent several years, there’s been much more of an influx of rich buyers from China, Taiwan and Hong Kong. 

“They variety of went peaceful,” Lenz reported of the influx of wealthy Russian customers. “And they are only out there now simply because they want to liquidate forward of a disaster.” 

“If you talk to me to guess since naturally not everybody’s telling you almost everything they’re considering, nor ought to they,” she extra. “I feel that they’re extra afraid of what is actually coming in the long term than it is any absolute knowledge of what is coming in the upcoming. They are hoping to get forward of it.” 

‘Secretive patterns’

At the state amount in New York, two Democratic state lawmakers, Sen. Brad Hoylman and Assemblywoman Emily Gallagher, who symbolize Manhattan and Brooklyn, respectively, released legislation previous 7 days aimed at combating “secretive patterns of actual estate expense in New York Town among international elites as a result of anonymous LLCs and the use of New York LLCs by rich Russian nationals in New York point out to obtain luxurious households.” 

The invoice would have to have LLCs to disclose their entrepreneurs to the New York Office of Point out and would build a community databases of which LLCs share widespread possession. It asserts that nameless LLC landlords have brought about code violations for decades in the Hudson Valley, prompting a 2019 point out senate investigation, as very well as tens of thousands of pandemic-era rental assistance programs to be unnecessarily delayed. 

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But the use of LLCs to invest in large-conclude true estate is a common practice, so it is really unclear if the proposed laws will achieve any traction. 

“Each individual one purchaser we’ve at any time had established a new LLC for just about every and every home. I imagine the majority of rich persons invest in an LLC for every single rationale in the entire world,” Lenz stated. “We would welcome any transparency to every transaction. We individually go the further lawn to make certain we know who we’re dealing with. Even even though we do not have (know-your-shopper) procedures in genuine estate like they do in banking – have to vet everybody they talked to – we really do not have to, but we do.” 

“We will not want to chat to any person we think is unsavory,” she extra. “It’s not simply because they’re unsavory, it’s because they’re scared of becoming tied to this circumstance.”

FOX Business’ Sumner Park contributed to this report. 

New York’s luxury market sees record volume: UrbanDigs

New York’s luxury market sees record volume: UrbanDigs

Real estate

December 28, 2021

View from penthouse condo at the Baccarat Hotel & Residences in Manhattan. Image credit: Douglas Elliman

 

New York luxury real estate had a record year in terms of volume, according to new findings from UrbanDigs.

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”,”iv”:”fd73a0064f61f541f4d5f285089ffcdf”,”s”:”98bcc1e5a04331e0″