Eye On Housing
Initial Jobless Claims Continue to Fall
The U.S. Department of Labor released the Unemployment Insurance Weekly Claims Report for the week ending May 30th. Weekly initial claims fell below 2 million for the first time since the week ending March 14th. Continuing claims, which lags initial jobless claims by one week, rose slightly to nearly 21.5 million in the week ending May 23rd. The data indicate... Read More ›
Home Purchasing Continues Gains
The latest round of the Mortgage Bankers Association’s (MBA) Weekly Application Survey showed a decline in its benchmark Market Composite Index for the week ending on May 29 by 3.9% from the previous week on a seasonally adjusted basis. Refinancing activity, fell sharply from the previous week by 8.6%. However, purchase application activity rose by 5.3%. Continuing the trend that... Read More ›
HBGI: Increased Home Building in Lower-Density Markets Ahead
The COVID-19 pandemic is likely to hasten a housing trend already taking place across the nation – residential construction activity that is expanding at a more rapid rate in lower density markets such as smaller cities and rural areas. This conclusion is among the findings of the latest quarterly National Association of Home Builders Home Building Geography Index (HBGI). An... Read More ›
Private Residential Spending Slides in April
NAHB analysis of the Census Construction Spending data shows total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $536.8 billion in April. It was down 4.5% in April, after a 0.2% dip in March, due to the economic consequences of the COVID-19 lockdowns. On a year-over-year basis, however, total private construction spending rose 6.2%. The... Read More ›
52% of Builders Used Incentives to Bolster Sales in May 2020
The NAHB/Wells Fargo Housing Market Index survey conducted in May 2020 reveals that 48% of single-family builders are not using incentives to bolster sales and/or limit cancellations. This of course implies that slightly more than half, 52%, are using some kind of incentive to achieve that objective. What specific incentives are they using£ Figure 1 shows the complete list, but... Read More ›
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