Eye On Housing
Author Archives
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California Leads Job Gains in April
Total nonfarm employment, seasonally adjusted (SA) increased by 2.6 million jobs, year-over-year (YoY), or 1.8% from April 2018 to April 2019. During this time, total nonfarm employment in the Western region increased by 2.0%. The South, Northeast, and Midwest recorded gains at 1.7%, 1.2% and 1.0% respectively, during this time. According to the Bureau of Labor Statistics, nonfarm payroll employment… Read More ›
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Single-Family Permit Weakness at Start of 2019
Over the first three months of 2019, the total number of single-family permits issued year-to-date (YTD) nationwide reached 185,336. On a year-over-year basis, this is a 7.3% decline over the March 2018 level of 199,861. Year-to-date ending in March, single-family permits reported growth only in the Northeast region of the country. The South, Midwest, and the West regions declined by… Read More ›
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West Leads GDP Growth In 2018
Real gross domestic product (GDP) increased in 49 states and the District of Columbia and declined in Alaska in 2018 compared to 2017, according to the U.S. Bureau of Economic Analysis. In 2017, 47 states and the District of Columbia recorded growth in GDP while three states (Kansas, Louisiana, and Connecticut) recorded a decline in GDP. As a result, nationwide growth… Read More ›
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30-Year Mortgage Rate Retreated in March
For the fourth straight month, information compiled by Freddie Mac shows that mortgage rates continued to fall in March 2019. The 30-year FRM – Commitment rate, fell by ten basis points to 4.27 percent from 4.37 percent in February. The cycle peak was 4.87 percent in November. The Federal Housing Finance Agency reported that the contract rate for newly-built homes,… Read More ›
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Washington Leads Job Gains in March
Total nonfarm employment, seasonally adjusted (SA) increased by 2.5 million jobs, year-over-year (YoY), or 1.7% from March 2018 to March 2019. During this time, total nonfarm employment in the West region increased by 1.7%. The South, Northeast, and Midwest recorded gains at 1.6%, 0.9% and 0.6% respectively, during this time. According to the Bureau of Labor Statistics, nonfarm payroll employment… Read More ›
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Single-Family Permit Decline in February
Over the first two months of 2019, the total number of single-family permits issued year-to-date (YTD) nationwide reached 116,189. On a year-over-year basis, this is a 6.2% decline over the February 2018 level of 123,871. Year-to-date ending in February, single-family permits reported growth only in the Northeast region of the country. The South, Midwest, and the West regions declined by… Read More ›
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30-Year Mortgage Rate Retreats
For the third straight month, information compiled by Freddie Mac shows that mortgage rates continued to fall in February 2019. The 30-year FRM – Commitment rate, fell by nine basis points to 4.37 percent from 4.46 percent in January. The cycle peak was 4.87 percent in November. The Federal Housing Finance Agency reported that the contract rate for newly-built homes,… Read More ›
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Housing Starts Fall in February
Total housing starts posted a 8.7 percent decrease in February (1.162 million units) compared to a upwardly revised January estimate of 1.273 million units according to the joint data release from the Census Bureau and HUD. Relative to February 2018, total starts are 9.9 percent below the annual pace of 1.29 million units. The rate of single-family starts posted a… Read More ›
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Florida Leads Job Gains in February
Total nonfarm employment, seasonally adjusted (SA) increased by 2.5 million jobs, year-over-year (YoY), or 1.7% from February 2018 to February 2019. During this time, total nonfarm employment in the Western and Southern regions increased by 1.7%. The Midwest and the Northeast recorded the lowest gains at 0.7% and 0.8% respectively, during this time. According to the Bureau of Labor Statistics,… Read More ›
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North Carolina Leads Job Gains in January
On an annual basis, total nonfarm employment in January increased by 2.8 million jobs, which is a 1.9% increase compared to January 2018. During this time, total nonfarm employment in the Western region increased by 1.9% and in the Southern region by 1.8%. The Midwest and the Northeast recorded the lowest gains at 1.0% during this time. According to the… Read More ›