Eye On Housing
Author Archives
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Slowdown in Single-Family Permits in May 2022
Over the first five months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 473,997. On a year-over-year (YoY) basis, this is a 2.0% decline over the May 2021 level of 483,878. Year-to-date ending in May, single-family permits declined in three out of the four regions. The South posted a moderate increase of 1.0% while the… Read More ›
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State-Level GDP in the First Quarter of 2022
Real gross domestic product (GDP) decreased in 46 states and the District of Columbia in the first quarter of 2022. New Hampshire, Vermont, Massachusetts, and Michigan saw modest GDP growth. According to the U.S. Bureau of Economic Analysis (BEA), the percent change in real GDP ranged from 1.2 percent increase in New Hampshire to 9.7 percent decline in Wyoming. Nationwide, growth… Read More ›
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Employment Situation in May: State-Level Analysis
Nonfarm payroll employment increased in 32 states and the District of Columbia in May compared to the previous month while 18 states lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 390,000 in May, following a gain of 436,000 jobs in April. On a month-over-month basis, employment data was strong in Texas, which… Read More ›
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Multifamily Permits Holding Steady in April 2022
Over the first four months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 377,713. On a year-over-year (YoY) basis, this is a 1.7% decline over the April 2021 level of 384,196. Year-to-date ending in April, single-family permits declined in three out of the four regions. The South posted a modest increase of 2.8% while… Read More ›
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Employment Situation in April: State-Level Analysis
Nonfarm payroll employment increased in 41 states and the District of Columbia in April compared to the previous month while eight states lost jobs. North Dakota remained unchanged. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 428,000 in April, following a gain of 428,000 jobs in March. On a month-over-month basis, employment data was… Read More ›
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Multifamily Permits Strong At The End of First Quarter of 2022
Over the first three months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 278,189. On a year-over-year (YoY) basis, this is a 0.8% increase over the March 2021 level of 276,110. Year-to-date ending in March, single-family permits declined in three out of the four regions. The South posted a modest increase of 4.8% while the… Read More ›
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Annual Permits Per Capita: 2001-2021
Population growth in the United States amounted to just 0.12% in 2021 (between July 2020 and July 2021), the slowest rate on record dating back to 1900. The sharp slowdown in population growth over the past two years is almost entirely due to pandemic-related factors, namely decreased birth rates, increased mortality and decreased net international migration. Thirty-three states registered a… Read More ›
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New Home Sales Fall on Higher Rates
New single-family home sales declined in March as mortgage rates jumped to the highest levels since the start of the pandemic. Per Freddie Mac, the 30-year fixed rate mortgage was 3.89 at the end of February and had climbed to 4.67 at the end of March. The U.S. Department of Housing and Urban Development and the U.S. Census Bureau estimated… Read More ›
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Employment Situation in March: State-Level Analysis
Nonfarm payroll employment increased in 34 states and the District of Columbia in March compared to the previous month while 16 states lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 431,000 in March, following a gain of 750,000 jobs in February. On a month-over-month basis, employment data was strong in California, which… Read More ›
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Slight Pick-Up in Single-Family Permits February 2022
Over the first two month of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 170,716. On a year-over-year (YoY) basis, this is a 3.5% increase over the February 2021 level of 164,901. Year-to-date ending in February, single-family permits declined in two out of the four regions. The South posted an increase of 7.6% while the Midwest… Read More ›