Real Estate News & Commentary

Real Estate News by the Numbers: Week of March 31 – April 6

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A quick rundown of the important real estate news from the week of March 31 – April 6, by the numbers:

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120,000 – New jobs added to the U.S. economy in March. The number was disappointing, as it was half the jobs added the previous month.

8.2% – Unemployment rate in March, down from 8.3% in February. However, the drop was largely due to a shrinking labor force, as many stopped looking for jobs.

$15.2 Million – Purchase price of singer Julio Inglesias’ new Miami home. The 5,504 square foot home is located next to a 4-acre lot he owns.

$29.6 Million – Listing price for an apartment in the Dakota in New York City. The apartment, with 100 feet fronting Central Park, has a 70-foot long gallery and 12 foot-high ceilings.

4.9% – Mulitfamily vacancy rate in the first quarter of 2012. The rate is 30 basis points lower than the previous quarter and the lowest rate in a decade.

2.96 Million Square Feet – Increase in the amount of occupied U.S. shopping center space in the first quarter. It’s the second largest increase since the second quarter of 2008.

3.98% – Average rate on a 30-year fixed mortgage this week according to Freddie Mac. The rate is down slightly from last week's 3.98% average rate.

64.6% – Population growth in Charlotte from 2000-2010. Charlotte topped CNNMoney’s “10 Fastest Growing U.S. Cities.”

12.9% – Increase in rents in Sarasota, Florida, in the past 12 months. It’s the largest increase of the major 100 metros Trulia surveyed. Miami and San Francisco had the next largest rental increases, at 12.1% and 11.1%, respectively.

    Replied about 8 years ago
    The unemployment numbers here are interesting – the fact that we improved the unemployment percentage, but only added half as many jobs as we had before. Jobs need sustained growth to help us fix the economy. The trend of adding jobs one money, yet barely doing so in the bigger picture the next month suggest we’ll be waiting out this recovery for awhile. My university published an article recently that discussed, in part, how inventory levels have dropped dramatically and have caught everyone off guard. Home builders are struggling, apparently, to find the workforce to help them build houses as they did during the boom. It seems while unemployment may be high, there is still work that many people are not willing to participate in, at the wages the market will sustain right now. If you’re interested, you can find the article at: