Nonfarm payroll employment increased in 48 states and the District of Columbia in January compared to the previous month, while Wyoming and Rhode Island lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 504,000 in January, following a gain of 260,000 jobs in December. On a month-over-month basis,…
Declining mortgage rates and home prices in January, coupled with home builders use of sales incentives, helped boost new home sales last month. The U.S. Department of Housing and Urban Development and the U.S. Census Bureau estimated sales of newly built, single-family homes in January at a 670,000 seasonally adjusted annual pace, which is a…
Due to elevated mortgage rates and high construction costs, overall housing starts decreased 4.5% to a seasonally adjusted annual rate of 1.31 million units in January, according to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Although rising builder sentiment indicates a turning point for housing later this…
For 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 972,180. On a year-over-year (YoY) basis, this is 12.5% below the 2021 level of 1,111,414. Year-to-date ending in December, single-family permits declined in all four regions. The South posted a decline of 10.4%, while the Western region reported the steepest decline of…
While new home sales posted a modest gain in December, elevated mortgage rates and higher construction costs continue to hinder housing affordability and put a damper on consumer demand. The U.S. Department of Housing and Urban Development and the U.S. Census Bureau estimated sales of newly built, single-family homes in December at a 616,000 seasonally…
Nonfarm payroll employment increased in 32 states and the District of Columbia in December compared to the previous month, while 18 states lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 223,000 in December, following a gain of 256,000 jobs in November. On a month-over-month basis, employment data…
