Condos Are Selling for a Record 17% Discount to Single-Family Homes as the Coronavirus Fuels Demand for Space

SEATTLE, Nov. 25, 2020 /PRNewswire/ — (NASDAQ: RDFN) — The typical single-family home that sold in the U.S. this year was purchased for an average of 17.3% more ($58,000) than the typical condo, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. That’s up from 15.4% last year and represents the largest premium since at least 2013, when Redfin began recording this data.

The U.S. housing market has been on fire this year, with record-low mortgage rates and remote work prompting scores of Americans to relocate. But the condo market has missed out on much of the gains as homebuyers have left dense cities in search of more space and privacy—AKA single-family homes—during the coronavirus pandemic.

The median sale price of single-family homes surged 15.5% year over year in October, outpacing the condo market’s 9.9% growth. Condos are also taking longer to sell—the

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Waddle Exteriors, A Story City Roofing Contractor, Now Offering Huge Discount On New Roofs – Press Release

Story City, IA – Waddle Exteriors is one of the leading roofers in Story City, IA. The roofing contractor boasts years of experience and a team that remains committed to delivering exceptional quality roofing solutions at all times. Having been in business for years and handled several roofing projects successfully, Waddle Exteriors is proud to be giving back to its community by offering a huge discount on all new roof installation services offered.

Members of the Story City, IA area who wish to install new roofs on their building, whether residential or commercial, can now rely on Waddle Exteriors to deliver exceptional quality services while also saving them as much as $500 on all new roof installation service.

“Our team of factory-trained roofers consists of clean-cut professionals who have many years of experience working on virtually all types of roofs, and complete every project with meticulous craftsmanship and careful attention

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Wait to Buy Target Stock at a Discount



an image of bullseye the target (TGT) dog in a target store


© n/a
an image of bullseye the target (TGT) dog in a target store

Target (NYSE:TGT) has long been my favorite retail stock. In 2018 I defended Target stock after an earnings miss. I pounded the table for it in 2019. I called it a cheap stock early in the pandemic.



an image of bullseye the target (TGT) dog in a target store


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an image of bullseye the target (TGT) dog in a target store

Investors who have stayed with the company since Brian Cornell became CEO in 2014 have been rewarded. Its strategy of premium house brands, and of clean stores in urban settings, has paid off.

But now that it has caught up to Walmart (NYSE:WMT), and differentiated itself, where can Target find growth? If you’re buying the stock now, growth is what you’re betting on. Now trading at nearly $155 per share, Target’s market cap is $77.5 billion.

That’s about the

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Condo developers try discount pricing

Condo developers try discount pricing

Recovery strategies focus on bolstering cash flow through sales promotions or shrinking land banks, says JLL



a group of people sitting at a table in front of a building


© The Bangkok Post


Bangkok’s condo market has felt the growing impact of the pandemic on Thailand’s economy and outlook. All market segments are witnessing a slowdown in sales and more intense competition.

In response to an increasingly challenging market environment, developers are compelled to reimagine their approach to managing cash flows, says property consultancy JLL.

“Many property developers in Bangkok, particularly in the condominium sector, are using various strategies to bolster sales and mitigate risk as they face an unprecedented period of slow sales because of a supply glut and softening demand,” said Michael Glancy, head of transaction business at JLL.

Promotional packages are commonplace. These include incentives such as police discounts, free furniture, no ownership transfer fee, down payment-free periods for up to 24 months, and zero

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PulteGroup: A Leading Home Builder At A Discount (NYSE:PHM)

Introduction

Home builders have traded at a lower earnings multiple than the S&P 500 for the past decade. This article discusses factors in play that strengthen fundamentals for home builders. I believe home builder stocks have strong upside in the next few years. While the bullish thesis applies to the entire home builder sector, I am particularly bullish on PulteGroup (PHM) due to its lower valuation among peers in the sector despite strong performance in 2020.

Background

PulteGroup is the third largest home builder in the US in terms of number of homes closed (data source: builderonline.com), and it operates in 23 states and 42 major markets. Their business is diversified to cater to a wide range of buyer budgets.

Image Source: PulteGroup website

Image Source: PulteGroup website

Performance and Valuation

Since my previous article on the company – PulteGroup: Bullish On Home Buying, the stock is up almost 48%.

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