Oil prices hit highest level since March on vaccine hopes

Oil prices touched their highest level since March on Tuesday, rising towards $47 a barrel after a raft of positive vaccine news sparked a comeback in one of the sectors hardest hit by the pandemic.

Brent crude, the international benchmark, hit a high of $46.72 a barrel in Asia trading, as traders bet that travel and other energy-intensive industries would pick up in 2021 if coronavirus can be brought under control. The marker is up 24 per cent so far in November, putting it on course for one of its largest monthly percentage gains in recent decades.

Analysts at PVM oil brokerage in London said that traders were increasingly treating the prospect of vaccines as a “game changer” for the energy sector, though prices still remain well below the near $70 a barrel they traded at before the pandemic.

“The fight against the coronavirus is intensifying and is proving to

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Portland homes hit highest average sale price of $516,500 due to low inventory, pent-up demand

A historically low supply of Portland area homes for sale, rock-bottom lending rates and pent-up demand have pushed residential property prices to a new high: In October, the average sale price was $516,500, according to the latest report from the local listing service RMLS.

Another boost to sellers: October traditionally starts a slowdown until spring. But not so far this year.

“In 2019, we peaked in June and started dropping, ending up 3.28% lower in December for the average sale price,” said Dustin Miller of Windermere Realty Trust in Lake Oswego. “This year is totally different. We just kept going up.”

Comparing the first 10 months of 2020 to the same period in 2019, the average sale price has increased 6.5%, from $459,000 to $489,000. In the same comparison, the median sale price climbed 6.1%, from $410,000 to $435,000, according to RMLS.

The median sale price, the point in the

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The cities with the highest (and lowest) property taxes | Real Estate

Although the majority of large cities with the highest effective property tax rates are located in Texas, Milwaukee claims the top spot with an effective property tax rate of 2.17 percent, over twice the national effective property tax rate of 1.03 percent. In addition to Texas, Illinois, New Jersey, and Connecticut claim many of the small and midsize cities with the highest property taxes, with effective property tax rates that are several times higher than the national rate. Indeed, three small cities in New Jersey and Connecticut have effective property tax rates over 3.0 percent. The median property taxes paid is nearly $9,000 in Elizabeth, NJ, the small city with the highest effective property tax rate.

To determine the cities with the highest property taxes, researchers at Roofstock analyzed the latest data from the U.S. Census Bureau’s 2019 American Community Survey. Cities were ranked according to their effective property

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Brokerage log-ins for sale on dark web, Robinhood sees highest prices

As a new generation of investors flock to the stock market, criminals are looking for ways to exploit them. 

Hackers have turned to the dark web, where log-ins for accounts at major brokerage firms are listed for sale, according to security analysts and listings seen by CNBC. 

For just a few dollars, criminals are selling credentials for customers of E*Trade, Charles Schwab, TD Ameritrade, Robinhood and others, according to New York-based security firm Intsights. The demand has only increased during the pandemic, according to the firm’s chief security officer Etay Maor.

“You have more people wanting to do more online from home, and on the other hand the attackers who are actively looking and seeking to take advantage of this situation,” Maor told CNBC. “What you end up with is a lot of credentials, and a lot of information being bought and sold on the criminal underground.”

The list of

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Florida’s foreclosure rate second highest in the U.S., filings increase as courts open

HILLSBOROUGH COUNTY, Fla. — A moratorium on foreclosures offers protection to families unable to pay their mortgages because of the COVID-19 pandemic. But I-Team Investigator Kylie McGivern found foreclosure filings are on the rise with Florida currently ranked second in the nation.

While some experts say this is different than the Great Recession, others are bracing for another housing crash.

Rick Sharga, the executive vice president of RealtyTrac, which publishes a nationwide database of foreclosure properties, told the I-Team that foreclosures have dropped dramatically because of the protections.

“We’re in a very unusual time right now, because of the enormous efforts that the government and the industry have put in place to prevent foreclosures from happening,” Sharga said.

According to data from RealtyTrac’s parent company, ATTOM Data Solutions, as of September, Florida had the second-highest foreclosure rate in the country behind South Carolina.

“Florida is definitely an outlier. Most states

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Home Price Gains Highest in 25 Months

The last time that the S&P CoreLogic Case-Shiller’s National Composite Index matched August’s 5.7% growth rate was 25 months ago, in July 2018. If it grows at similar rates in the following months, S&P Dow Jones Indices is ready to conclude that the COVID-related deceleration is behind us.

“A trend of accelerating increases in the National Composite Index began in August 2019 but was interrupted in May and June, as COVID-related restrictions produced modestly-decelerating price gains,” Craig J. Lazzara, Managing Director and Global Head of Index Investment Strategy at S&P Dow Jones Indices said in a prepared statement. “We speculated last month that the accelerating trend might have resumed, and August’s results easily bear that interpretation.”

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index was up from 4.8% in July. The 10-City Composite annual increase came in at 4.7%, up from 3.5% in the previous month. The 20-City

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U.S. Market For New Homes Surges To Highest Level Since Bubble

The market for new homes in the U.S. continued to surge in September 2020, with the trailing twelve-month market cap reaching levels not seen since the days of the first housing bubble.

Our initial estimate of the trailing twelve-month average of the market capitalization of new homes sold throughout the U.S. in September 2020 is $26.87 billion. In nominal terms, only the period between July 2004 and June 2006 saw higher value for the market cap of new homes sold in the U.S.

The story is similar after adjusting for inflation, although here the first bubble period with higher national new home market caps stretches between December 2002 and April 2007.

Much of today’s demand is being fueled by American families seeking to escape corrupt cities that permitted sustained breakdowns in public order during the summer of 2020, sparking sharply increased demand in the U.S. market for new homes. That

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September existing home sales climb 9.4%, highest since ’06

CHARLOTTE, N.C. (AP) — Sales of existing homes climbed 9.4% in September, the National Association of Realtors said Thursday, the latest sign that the housing market remains red hot despite the coronavirus pandemic.



In this Friday, Sept. 25, 2020 photo, a "sale pending" sign is posted on.a home in Westfield, Ind. Sales of existing homes climbed 9.4% in September, the National Association of Realtors said Thursday, the latest sign that the housing market remains red hot despite the coronavirus pandemic. On a seasonally-adjusted rate, the selling pace of existing homes climbed to 6.54 million annualized units. That is the highest level for that metric since February 2006, at the peak of the previous housing bubble. (AP Photo/Michael Conroy)


© Provided by Associated Press
In this Friday, Sept. 25, 2020 photo, a “sale pending” sign is posted on.a home in Westfield, Ind. Sales of existing homes climbed 9.4% in September, the National Association of Realtors said Thursday, the latest sign that the housing market remains red hot despite the coronavirus pandemic. On a seasonally-adjusted rate, the selling pace of existing homes climbed to 6.54 million annualized units. That is the highest level for that metric since February 2006, at the peak of the previous housing bubble. (AP Photo/Michael Conroy)

On a seasonally-adjusted rate, the selling pace of existing homes climbed to 6.54 million annualized units. That is the highest level for that metric since February 2006,

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Suddenly, the Hartford area’s real estate market is red hot; home sales are third highest in nation

Home sales in the Hartford metro area ranked the third highest in the country in September in a new national survey released Thursday, fresh evidence of the hot housing market in Connecticut.

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The Hartford metro area — which includes Hartford, Tolland and Middlesex counties — had a 33.3% jump in closed sales in September, compared with a year ago, placing it just behind the perennially hot market of San Francisco, which came in with a 34.7% increase. Billings, Montana grabbed the top spot with sales that soared 37.1%.

The survey, released by real estate giant RE/MAX, was based on a study of 53 metro areas across the country. The study combined sales of single-family houses, condominiums and townhouses.

Sales in the Hartford metro area blew past the national increase of 21.1% compared with a year earlier.

The median sale price — where half the sales are above, half

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For-Sale Housing Market Posts Highest Monthly Jump in 15 Years

The house sales market remains hot as the typical home value rose to $259,906 in September.

The month-over-month growth rate moved up 0.8%, the most significant jump since November 2005, according to the Zillow Real Estate Market Report. The quarterly growth of 2.2% was the largest increase since 2013 and the annual growth of 5.8% was the largest in nearly two years.

For the third consecutive month, home values have risen in every major US metro compared to the month prior. The median national list price rose 11.6% year-over-year as of the week ending Oct. 10.

With recent data showing double-digit annual growth in both list and sale prices, Zillow predicts seasonally adjusted home values to increase 2.9% more through the end of 2020 and rise 7% in the next year. Prior forecasts called for a 4.8% rise through next year.

“Home values are accelerating more quickly than any time

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