In a sign that lower mortgage rates continue to boost the housing market, single-family production surpassed the million mark for the second straight month in December. According to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau overall housing starts fell 4.3% in December. The seasonally adjusted annual rate…
Over the first eleven months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 843,654. On a year-over-year (YoY) basis, this is 8.5% below the November 2022 level of 921,626. Year-to-date ending in November, single-family permits declined in all four regions. The range of permit decline spanned 6.8% in the South…
Nonfarm payroll employment increased in 37 states and the District of Columbia in November compared to the previous month, while 13 states lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 199,000 in November, following a gain of 150,000 jobs in October. On a month-over-month basis, employment data…
Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the third quarter of 2023. According to the U.S. Bureau of Economic Analysis (BEA), the percent change in real GDP increase ranged from 9.7 percent in Kansas to 0.7 percent in Arkansas. Nationwide, growth in real GDP (measured on a…
Over the first ten months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 773,526. On a year-over-year (YoY) basis, this is 10.7% below the October 2022 level of 865,815. Year-to-date ending in October, single-family permits declined in all four regions. The range of permit decline spanned 8.6% in the Northeast…
Real gross domestic product (GDP) increased in 44 states and the District of Columbia in the second quarter of 2023. Economic activity contracted in six states. According to the U.S. Bureau of Economic Analysis (BEA), the percent change in real GDP increased ranged from 8.7 percent in Wyoming to -1.9 percent in Vermont. Nationwide, growth in…
Pets can have a significant impact on home buying decisions for many people. According the U.S. Census Bureau, 2021 data shows that there are 63.8 million occupied housing units have at least one pet which represents almost 50% of the 128.5 million occupied housing units. A recent U.S. Bureau of Labor Statistics Consumer Expenditure Surveys…
