Eye On Housing
Author Archives
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Significant Regional Employment Losses in April
Year-over-year (YoY), total nonfarm employment fell by 19.4 million jobs on a seasonally adjusted basis (SA), or -12.9% from April 2019 to April 2020. During this time, total nonfarm employment decreased across all the regions. The Northeast declined by 18.2%, the Midwest by 14.5%, the Western region by 12.6% and the South by 10.7%. According to the Bureau of Labor… Read More ›
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Single-Family Permits Were Solid in March
Over the first three months of 2020 – and prior to the impact of the coronavirus, the total number of single-family permits issued year-to-date (YTD) nationwide reached 220,416. On a year-over-year (YoY) basis, this is an 18.9% increase over the March 2019 level of 185,336. Year-to-date ending in March, single-family permits reported growth across the four regions ranging from 21.7%… Read More ›
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Widespread Job Losses Across the Country in March
Year-over-year (YoY), total nonfarm employment increased by 1.5 million jobs on a seasonally adjusted basis (SA), or 1.0% from March 2019 to March 2020. During this time, total nonfarm employment in the Western region increased by 1.2%. The South and the Northeast recorded gains at 1.0% and 0.2% respectively, during this time. Midwest recorded a decline of 0.2% for this… Read More ›
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Single-Family Permits Were Strong in February
Over the first two months of 2020 – and prior to the impact of the coronavirus, the total number of single-family permits issued year-to-date (YTD) nationwide reached 141,467. On a year-over-year (YoY) basis, this is a 21.8% increase over the February 2019 level of 116,189. Year-to-date ending in February, single-family permits reported growth across the four regions ranging from 27%… Read More ›
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Southwest Led GDP Growth In 2019
Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in 2019 compared to 2018, according to the U.S. Bureau of Economic Analysis (BEA). The percent change in real GDP ranged from 4.4 percent in Texas to 0.6 percent in Nebraska. Nationwide growth in GDP, measured on a seasonally adjusted annual rate basis, reached 2.3 percent… Read More ›
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Mortgage Rates Fall Back in March
Information compiled by Freddie Mac shows that mortgage rates decreased on a monthly basis. As of end of March, the 30-year FRM – Commitment rate, declined by two basis points to 3.45 percent from 3.47 percent in February. The cycle peak was 4.87 percent in 2018 November. Given the market volatility due to the rapidly spreading Coronavirus COVID-19, the Federal… Read More ›
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Texas Led Job Gains in February
Year-over-year (YoY), total nonfarm employment increased by 2.4 million jobs on a seasonally adjusted basis (SA), or 1.6% from February 2019 to February 2020. During this time, total nonfarm employment in the Western region increased by 1.8%. The South, Northeast, and Midwest recorded gains at 1.5%, 1.0% and 0.4% respectively, during this time. It is important to note that this… Read More ›
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Housing Permits Started 2020 Strong
Over the first month of 2020 – and prior to the impact of the coronavirus, the total number of single-family permits issued year-to-date (YTD) nationwide reached 70,386. On a year-over-year (YoY) basis, this is a 21.2% increase over the January 2019 level of 58,086. Year-to-date ending in January, single-family and multifamily permits reported growth across the country. Northeast led in… Read More ›
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Mortgage Rates Fall Back in February
Information compiled by Freddie Mac shows that mortgage rates decreased on a month-over-month basis. As of end of February, the 30-year FRM – Commitment rate, declined by 16 basis points to 3.47 percent from 3.62 percent in January. The cycle peak was 4.87 percent in 2018 November. Given the recent market volatility, the Federal Reserve cut the benchmark interest rate… Read More ›
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Housing Starts Mark a Solid Start in 2020
Total housing starts posted a 3.6 percent decline in January (1.57 million units) compared to an upwardly revised December estimate of 1.63 million units according to the joint data release from the Census Bureau and HUD. Relative to January 2019 (during the housing soft patch), total starts are 21.4 percent above the annual pace of 1.29 million units. Single-family starts… Read More ›