The construction of new residential buildings is an indicator of new housing construction and is considered a key economic indicator.
The start of construction is counted as soon as the laying of the foundation begins, and each unit in the multi-family housing project is considered as a separate start of construction.
Seasonally adjusted data for the last month is compared with data for previous months.
Monthly changes can be erratic, but the long-term trend reflects a critical sector of consumer spending and the economy as a whole.
The 48 Hour Rule refers to the part of the mortgage allocation process related to the purchase and sale of Mortgage Backed Securities (MBS) to be announced (TBA).
A major improvement is a long-term upgrade, adaptation, or improvement to a property that adds value to it, often including structural changes or restoration.
Effective gross income is calculated by adding the potential gross rental income to other income and subtracting the vacancy and loan costs of the rental property.
A land lease is a contract whereby the tenant can develop the property for the duration of the lease, after which it is transferred to the property owner.