Inflation slowed to a 6-month low in March, largely driven by lower energy costs, especially in gasoline prices. Despite the easing, the report likely only captures part of the first wave of global tariffs announcement. The inflationary pressure from tariffs and escalating trade war continues to threaten the economic growth and complicate the Fed’s path…
Sentiment declined among remodelers in the first quarter of 2025, following a similar trend last month in single-family home builder sentiment. The NAHB/Westlake Royal Remodeling Market Index (RMI) posted a reading of 63 in the first quarter, down five points compared to the previous quarter. While this reading is still in positive territory, this is only the second time since…
Around 48% of the U.S. housing stocks dates back to the 1980s and earlier. The median age of owner-occupied homes has climbed to 41 years in 2023, up from 31 years in 2005 according to the latest data from the American Community Survey[1]. The U.S. owner-occupied housing stock has aged rapidly particularly, particularly since the…
The Market Composite Index, which measures mortgage loan application volume based on the Mortgage Bankers Association (MBA) weekly survey, rose 14.0% month-over-month on a seasonally adjusted (SA) basis, driven primarily by a surge in refinancing activity. Year-over-year, the index is up 29.2% compared to March 2024. The Purchase Index rebounded 8.3% (SA) from the previous…
The U.S. job market unexpectedly accelerated in March, while the figures for January and February were revised downward substantially. The unemployment rate ticked up slightly to 4.2% in March, from 4.1% the previous month. This month’s jobs report highlights the continued resilience of the labor market despite sticky inflation, a drop in consumer confidence, mass…
Manufactured homes play a measurable role in the U.S. housing market by providing an affordable supply option for millions of households. According to the American Housing Survey (AHS), there are 7.2 million occupied manufactured homes in the U.S., representing 5.4% of total occupied housing and a source of affordable housing, in particular, for rural and…
Private residential construction spending increased by 1.3% in February, rebounding from a 1.2% dip in January. The growth was largely driven by higher spending on single-family construction and residential improvements. On a year-over-year basis, the February report showed a 1.6% gain, indicating a modest growth in private residential construction spending during market uncertainties. The monthly…
