The Federal Reserve’s monetary policy committee held constant the federal funds rate at a top target of 5.5% at the conclusion of its June meeting. In its statement, the Federal
Both overall and core inflation continued to ease in May as decline in gasoline price offset the increase the shelter cost. This is a dovish signal for future monetary policy.
Total outstanding US debt stood at $5.05 trillion for the first quarter of 2024, increasing at an annualized rate of 1.86% (SA), according to the Federal Reserve’s G.19 Consumer Credit
In 2022, around 1.29 million women worked in construction in the United States, accounting for 10.97% of the industry, according to the 2022 American Community Survey. Within the construction industry,
Despite high interest rates, job growth accelerated in May, but the unemployment rate increased to 4.0%. Overall, the labor market remains strong, but there are signs of slowing, which signals
According to Freddie Mac, the average 30-year fixed-rate mortgage increased by 7 basis points (bps) in May 2024, reaching 7.06%, up from 6.99% the previous month. This represents a 64
Despite higher mortgage rates, limited resale inventory and strong growth in demand continued to put upward pressure on house prices. House price appreciation was recorded in all 50 states and
The Market Composite Index, a measure of mortgage loan application volume by Mortgage Bankers Association’s (MBA) weekly survey, has been hovering around 200 since October 2022 as higher mortgage rates
Due to tightened monetary policy, the count of open jobs for the economy and construction is declining, per the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS).
Fueled by a lack of existing inventory and pent-up demand, single-family permit growth is occurring across all tracked geographic regions of the nation. The opposite holds true for the multifamily
Private residential construction spending rose 0.1% in April, following a 0.4% decline in March. The seasonally adjusted annual pace reached $890.4 billion. Total private residential construction spending is 8% higher
The median age of construction workers is 42, one year older than a typical worker in the national labor force, according to NAHB analysis of the most recent 2022 American