Texas is an illustrative example of a state in which home values hardly, if at all, explain real estate tax bills faced by homeowners. While Texas ranks 27th in the country for average home values, it is 10th in average real estate taxes paid.

Census Bureau data shows that the homeownership rate actually hit 67.9% in the second quarter of 2020, up from 64.1% from a year before.

The monthly gains are attributed to the strong growth of spending on improvements, while spending on single-family and multifamily constructions slipped.

The share of single-family homes started with four bedrooms or more increased from 42.6 percent in 2019 to 45.2 percent in 2020.

Mortgage applications fell last week as the interest rate on a 30-year fixed mortgage rose to 3.1% from 3.03%

The value of owner-occupied real estate in the United States posted its largest quarterly increase on record.

Construction sector jobs in the U.S. increased by 193,000 year-to-date, which is a 2.7% increase from August 2020.

An analysis by National Association of Home Builders shows that single-family construction activity recently closed that gap with multifamily.

It seems likely that active inventory is down close to 25% year-over-year, rather than 13.4%.