Interest for new home construction was essentially unchanged between the final quarter of 2022 and the first quarter of 2023, as the share of prospective buyers looking to buy a newly built home barely edged from 20% to 21%. Meanwhile, the share interested in existing homes dropped from 39% to 37% during this period, while…
Lower mortgage rates and limited existing inventory helped to push new home sales up in March, even as builders continue to grapple with increased construction costs and material supply disruptions. The U.S. Department of Housing and Urban Development and the U.S. Census Bureau estimated sales of newly built, single-family homes in March at a 683,000…
The retreat in mortgage interest rates during the first quarter of 2023 (from the 20-year peak reached in the fall of 2022) led a record share of adults in the US – 18 percent – to declare having plans to buy a home within a year – the largest share since the inception of this…
Nonfarm payroll employment increased in 36 states and the District of Columbia in March compared to the previous month, while 14 states lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 236,000 in March, following a gain of 326,000 jobs in February. On a month-over-month basis, employment data…
In 2022, Florida had the highest population growth rate of any state at 1.9% and the second largest nominal growth in population at 416,754. Florida’s population was at 22,244,823 as of July 1st, 2022, the third largest state population in the U.S. The population of Florida has not experienced a decline since 1946. Because of…
After reversing a 12-month slide last month, existing home sales retreated in March as mortgage rates began to increase again in February, according to the National Association of Realtors (NAR). With inflation continuing to ease and rent growth expected to slow, existing home sales will rebound, despite the slight drop in March. Total existing home…
Findings from a recent national poll* that reveal 30% of American adults typically work from home at least two days a week could offer clues to the long-term financial health and value of commercial office space in the United States. How this share evolves over time, whether it drops due to employers tightening work-from-home policies…
