Eye On Housing
Author Archives
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Employment Situation in January: State-Level Analysis
Nonfarm payroll employment increased in 36 states in January compared to the previous month while 14 states and the District of Columbia reported job losses. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 166,000 in January, following a decrease of 140,000 jobs in December. On a month-over-month basis, employment data was strong in Minnesota… Read More ›
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Strong Single-Family Permit Gains in January
Over the first month of 2021, the total number of single-family permits issued year-to-date (YTD) nationwide reached 83,921. On a year-over-year (YoY) basis, this is a 19.2% increase over the January 2020 level of 70,386. Year-to-date ending in January, single-family permits reported increases in all four regions. The relatively more affordable Midwest reported the strongest increase of 21.5%, followed by… Read More ›
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Single-Family Permits End On A Strong Note In 2020
For 2020, the total number of single-family permits issued year-to-date (YTD) reached 977,863 nationwide. On a year-over-year (YoY) basis, this is a 14.5% increase over the December 2019 level of 854,158. Year-to-date ending in December, single-family permits reported increases in all four regions. The South reported the strongest increase by 16.9%, followed by the Midwest (+13.1%), the Northeast (+11.6%), and… Read More ›
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Job Growth Decline in December: State-Level Analysis
Nonfarm payroll employment increased in 29 states and the District of Columbia in December compared to the previous month but the job losses in the remining 21 states erased the job gains. The largest increase came from Texas, which added 64,200 jobs during this time. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment decreased by 140,000… Read More ›
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The Missing Middle: A Solution for Adding More Housing
In many communities, 2-4 unit multifamily housing (structures with two, three or four units) is the key to expanding the existing housing stock, in order to solve the housing shortage. Two-four unit multifamily residences such as duplexes, fourplexes, townhomes, courtyard buildings, and cottage courts provide much needed entry-level housing options and/or more affordable housing for the first-time home buyers and… Read More ›
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Housing Starts Ends 2020 Strong
Total housing starts posted a 5.8 percent increase in December (1.67 million units) compared to an upwardly revised November estimate of 1.58 million units according to the joint data release from the Census Bureau and HUD. Relative to December 2019, total starts are 5.2 percent above the annual pace of 1.59 million units. Single-family starts posted a monthly increase of… Read More ›
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Continued Gains for November Single-Family Permits
Over the first eleven months of 2020, total single-family permits issued year-to-date (YTD) nationwide reached 888,217. On a year-over-year (YoY) basis, this is an 12.2% increase over the November 2019 level of 791,452. Year-to-date ending in November, single-family permits across the four regions ranged from an increase of 14.4% in the South to an increase of 8.0% in the Northeast…. Read More ›
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Sharp Rebound in Real GDP in All States and D.C. in the Third Quarter of 2020
Real gross domestic product (GDP) increased in all 50 states and the District of Columbia, in the third quarter of 2020 compared to the previous quarter. The U.S. Bureau of Economic Analysis reported real GDP growth rates, measured on a seasonally adjusted annual rate basis, ranged from 52.2% in Nevada to 19.2% in the District of Columbia. Nationwide, real GDP growth… Read More ›
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Sluggish Job Growth in November: State-Level Analysis
Nonfarm payroll employment increased in 32 states in November compared to the previous month. The largest increase came from Texas, which added 61,000 jobs during this time. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased just 245,000 over the month of November, following an increase of 610,000 jobs in October. Month-over-month (MoM), total nonfarm employment… Read More ›
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Solid Gains for October Single-Family Permits
Over the first ten months of 2020, total single-family permits issued year-to-date (YTD) nationwide reached 808,301. On a year-over-year (YoY) basis, this is an 11.1% increase over the October 2019 level of 727,301. Year-to-date ending in October, single-family permits across the four regions ranged from an increase of 13.3% in the South to an increase of 7.0% in the Northeast…. Read More ›