Eye On Housing
Author Archives
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Home Price Appreciation Continues in July
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 ›
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Single-Family Starts Growth Slowed in Seven Divisions in 2019
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 ›
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Continuing Claims Continue to Decrease
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 ›
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Weekly Initial Jobless Claims and Continuing Claims Decrease
According to the Unemployment Insurance Weekly Claims Report released by the U.S. Department of Labor today, weekly initial jobless claims decreased during the week ending September 12, and continuing claims, which lag initial jobless claims by one week, decreased as well for the week ending September 5. The data indicate that labor market improves modestly, but the road to a… Read More ›
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Consumer Prices Increase in August
Both the CPI and “core” CPI continued to increase in August, as food and energy prices increased slightly. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose by 0.4% in August on a seasonally adjusted basis, slower than a 0.6% increase in July. Excluding the volatile food and energy components, “core” CPI rose by 0.4%… Read More ›
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Weekly Jobless Claims Remain Unchanged
Weekly initial jobless claims remained unchanged for the week ending September 5, and continuing claims, which lag initial jobless claims by one week, increased by 93,000 for the week ending August 29. This week’s data indicate a slow improvement in labor market that badly damaged by the COVID-19 pandemic. The U.S. Department of Labor released the Unemployment Insurance Weekly Claims… Read More ›
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1.4 Million Jobs Added in August
In August, total payroll employment rose by 1.4 million and the unemployment rate fell to 8.4%. The U.S. labor market continues to recover from the COVID-19 crisis. Residential construction employment rose by 27,700 in August to 2.9 million. Total construction industry (both residential and nonresidential) employment rebounded to 7.2 million in August. It is worth noting, however, that nonresidential construction… Read More ›
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Weekly Jobless Claims Fall as A New Methodology Applies
Both weekly initial jobless claims and continuing claims, which lag initial jobless claims by one week, declined, mainly reflecting a change in the methodology from the Labor Department. Starting in September 3, 2020, instead of multiplying the unadjusted number by the seasonal factor, the Bureau of Labor Statistics (BLS) has decided to use the additive method to seasonally adjust the… Read More ›
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Home Price Appreciation Continues in June
National home prices increased modestly in June. While Las Vegas, San Francisco, New York, Chicago, Seattle, Boston and Cleveland experienced price declines, Charlotte posted the strongest annual growth rate among the 19 metro areas in June. 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… Read More ›
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Weekly Jobless Claims Jump to Over 1.1 Million
Weekly initial jobless claims jumped back to above 1 million in the week ending August 15. Continuing claims, which lags initial jobless claims by one week, has declined for three weeks in a row. This week’s data indicate that the road to economic recovery may not be smooth, but bumpy. The U.S. Department of Labor released the Unemployment Insurance Weekly… Read More ›