Tuesday September 29th, 2020 04:00:49 PM Fan-Yu Kuo
After hitting a 6-year low last month, consumer confidence bounced back in September, as consumers were more upbeat on outlook for economy and the job market. The Consumer Confidence Index, reported by the Conference Board, rose 15.5 points from 86.3 to 101.8 in September, the highest level since March 2020 and the largest monthly gain since April 2003. The Present… Read More ›
The post Consumer Confidence Rebounds Strongly in September first appeared on Eye On Housing.
National home prices continued to increase at a modest pace in July. While Los Angeles posted the strongest annual growth rate among the 19 metro areas, New York experienced a home price decline. The S&P CoreLogic Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth rate of 4.7% in July,… Read More ›
The post Home Price Appreciation Continues in July first appeared on Eye On Housing.
Monday September 28th, 2020 01:00:46 PM Danushka Nanayakkara-Skillington
NAHB analysis of the 2019 Census Bureau Survey of Construction (SOC) data shows that, nationwide, the share of non-conventional financing for new home sales accounted for 35.0% of the market, while conventional financing dominated the market at 65.0%. In 2018, share of non-conventional financing was 28.6% of the market while conventional financing accounted for 71.4% of the market share. Non-conventional… Read More ›
The post Share of Non-Conventional Financing Increased in 2019 first appeared on Eye On Housing.
According to NAHB analysis of the Survey of Construction (SOC), nationally, 891,068 new single-family units were started in 2019, 1% higher than the units started in 2018. It was 107% higher than the trough of 2011 (430,677 units). Among all the nine Census divisions, new single-family units started in the South Atlantic, West South Central and Mountain Divisions exceeded 100k… Read More ›
The post Single-Family Starts Growth Slowed in Seven Divisions in 2019 first appeared on Eye On Housing.
Thursday September 24th, 2020 05:42:53 PM Danushka Nanayakkara-Skillington
New single-family home sales surged in August, as housing demand was supported by low interest rates, a renewed consumer focus on the importance of housing, and rising demand in lower-density markets like suburbs and exurbs. Census and HUD estimated new home sales in August at a 1.01 million seasonally adjusted annual pace, an approximate 4.8% gain over revised July rate… Read More ›
The post New Home Sales at Highest Pace Since September 2006 first appeared on Eye On Housing.
According to the Unemployment Insurance Weekly Claims Report released by the U.S. Department of Labor today, weekly initial jobless claims inched up during the week ending September 19, and continuing claims, which lag initial jobless claims by one week, decreased for the week ending September 12. The data indicate that labor market continues to recover from the COVID-19 pandemic, but… Read More ›
The post Continuing Claims Continue to Decrease first appeared on Eye On Housing.
Wednesday September 23rd, 2020 07:00:53 PM Litic Murali
For the week ending September 18, 2020, the Mortgage Bankers Association’s latest Weekly Application Survey showed a jump in application activity, both in purchasing and refinancing, as its Market Composite Index increased 6.8% from the previous week on a seasonally adjusted basis. Most notably, the Purchasing Activity reached its highest level since January 2009, when it was only 5.3% higher…. Read More ›
The post Home Purchasing Reaches Highest Level in Over a Decade first appeared on Eye On Housing.
Wednesday September 23rd, 2020 12:45:04 PM Natalia Siniavskaia
The residential sector, including single-family, multifamily, and manufactured housing, accounts for about 21.2% of the US energy consumption, according to the 2020 Energy Information Administration’s (EIA) Annual Energy Review. New homes built since 2000 account for just 3.7% of the total energy consumed in the U.S., according to NAHB’s analysis of the 2015 Residential Energy Consumption Survey (RECS) data from… Read More ›
The post New Homes Account for 3.7% of the US Energy Consumption first appeared on Eye On Housing.
Tuesday September 22nd, 2020 04:02:41 PM Fan-Yu Kuo
As the housing market continued its rebound from the pandemic, existing home sales, as reported by the National Association of Realtors (NAR), reached its highest level in nearly 14 years in August. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, rose 2.4% to a seasonally adjusted annual rate of 6.00 million in August, the highest level since… Read More ›
The post Existing Home Sales Reach 14-year High in August first appeared on Eye On Housing.
Tuesday September 22nd, 2020 01:45:38 PM Carmel Ford
Data from the U.S. Census Bureau’s Survey of Market Absorption (SOMA) show that the absorption rate of unfurnished, unsubsidized apartments (the share rented out in the first three months following completion) fell to 45 percent in the first quarter of 2020 (from 53 percent in the first quarter of 2019) (Figure 1).This is the lowest absorption rate on record for… Read More ›
The post COVID-19 Impacts Apartment and Condominium Absorption Rates first appeared on Eye On Housing.
Home Deport reported sales growth that missed Wall Street’s forecasts. The company specifically cited a ‘slow start’ to spring as a problem. Bad weather did hurt sales. But rising mortgage rates might be a bigger problem going forward.