New Home Sales Rise in March
A modest decline in mortgage rates and lean existing inventory helped boost new home sales in March even as builders and consumers contend with uncertain market conditions. Sales of newly…
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State-Level Employment Situation: March 2025
Nonfarm payroll employment increased in 37 states and the District of Columbia in March compared to the previous month, while it decreased in 12 states. Wyoming reported no change during…
Remodeling Market Sentiment Down in First Quarter
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…
Refinancing Continues to Drive Mortgage Activity in March
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…
U.S. Economy Added 228,000 Jobs in March
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…
Affordability Pyramid Shows 94 Million Households Cannot Buy a $400,000 Home
NAHB recently released its 2025 Priced-Out Analysis, highlighting the housing affordability challenge. While previous posts discussed the impacts of rising home prices and interest rates on affordability, this post focuses…
Consumer Expectations Fall Again
Consumer confidence fell for the fourth straight month amid growing concerns about the economic outlook and policy uncertainties, especially potential tariffs. Uncertainties continue to weigh on consumer sentiment as consumer…