Fueled by deals, new-home sales soar to highest level in 17 months
New-home sales rose 4.4% in July to an adjusted annual rate of 714,000 as the supply of existing homes continues to drop, according to data released Wednesday by the US Census Bureau
by Ben Verde Aug 23
A man laying brick using mortar
Monthly housing starts rose 12.2% in August to a seasonally adjusted rate of 1,575,000, according to US Census Bureau data released Tuesday. August 2022 levels fell 0.1% year over year
by Ben Verde Sep 20
Housing inflation isn't slowing yet. And it may prove tough to tame
The slowing housing market has yet to significantly reduce costs for most Americans. But economists believe more rate hikes may be on the way
by Daniel Houston Sep 13
Housing starts dip modestly in October amid supply chain issues
Privately owned housing starts dipped 0.7% in October while single-family housing starts dropped 3.9%, according to US Census Bureau residential construction data
by Lillian Dickerson Nov 17
Rising rates are slowing home construction
Housing starts plummeted in February as interest rates and lumber costs soared, according to data released Wednesday by the US Commerce Department
by Patrick Kearns Mar 17
The real estate industry added a meager 7,100 jobs in January
The gains come at a time when unemployment remains high at 6.3% on the heels of the US adding just 49,000 jobs, according to data released Friday by the US Department of Labor
by Patrick Kearns Feb 5
638,000 jobs added in October — but unemployment remains high
The unemployment rate declined to 6.9%, according to the Bureau of Labor Statistics, but the country as a whole is still down about 10M jobs since February's pre-pandemic levels
New jobs report suggests home affordability could weaken
A dip in prime age participation typically goes hand-in-hand with slower wage growth, according to Odeta Kushi, the deputy first economist at First American
by Patrick Kearns Oct 2
Ramped-up mortgage purchases signal high homebuying demand
Mortgage purchase applications were up 28% year over year, according to data released Wednesday by the Mortgage Bankers Association
by Patrick Kearns Sep 2
Housing starts soar 22.6% in July
'Strong builder confidence and heavy buyer traffic point to further production gains in the near term,' said Chuck Fowke, chairman of the National Association of Home Builders
Here's why one economist believes a foreclosure wave is unlikely
Odeta Kushi, the deputy first economist at First American, doesn't believe the COVID-19 crisis will lead to a massive spike in foreclosures
by Patrick Kearns Aug 10
US homeownership rate hits near 12-year high — or did it?
New data from the Census Bureau indicates that the homeownership rate surged to its highest point since the third quarter of 2008, but a change in data collection methodology may have impacted the results
by Lillian Dickerson Jul 28
Mortgage rates hit all-time low heading into July 4th weekend
The average 30-year mortgage hit a new all-time low of 3.07% this week, according to data from Freddie Mac released Thursday
by Patrick Kearns Jul 2
Unemployment rate continues decline in June, but virus still looms
The real estate sector — not including rental and leasing — added more than 18,000 jobs in June, according to the US Department of Labor in a report released Thursday
by Patrick Kearns Jul 2
Explosion of housing permits a good sign for 2020: Economist
Housing starts are up 11.1% over November 2018 while permits increased by 13.6%
by Patrick Kearns Dec 17