Eye On Housing
Author Archives
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U.S. GDP Rebounded in the Third Quarter
The U.S. economy rose at the fastest rate on record in the third quarter of 2020 as the economy recovery took hold. Real GDP in the third quarter was close to the pre-recession level, but further recovery is needed. According to the “advance” estimate released by the Bureau of Economic Analysis (BEA), real gross domestic product (GDP) increased at an… Read More ›
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Home Price Appreciation Accelerates in August
In August, home price appreciation accelerated in major markets across the nation. The S&P CoreLogic Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth rate of 12.1% in August, faster than an 8.9% increase in July. It marks the highest annual growth rate since April 2013. On a year-over-year basis,… Read More ›
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Initial Jobless Claims Fall to 787,000
Weekly initial jobless claims decreased for the week ending October 17, and continuing claims, which lag initial jobless claims by one week, fell for the week ending October 10. The decreases in initial and continuing claims partially reflect that labor market continues to recover from the COVID-19 pandemic, albeit slowly. Also, as unemployment benefits are expiring, claimants may move to… Read More ›
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Continuing Claims Continue to Decline
According to the Unemployment Insurance Weekly Claims Report released by the U.S. Department of Labor today, weekly initial jobless claims increased for the week ending October 10, while continuing claims, which lag initial jobless claims by one week, fell for the week ending October 3. Labor market continues to struggle to recover from the COVID-19 pandemic. In the week ending… Read More ›
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Consumer Prices Increase Slowly in September
Consumer prices rose at a slower pace in September, while energy prices increased and food prices were unchanged. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose by 0.2% in September on a seasonally adjusted basis, slower than a 0.4% increase in August and a 0.6% increase in July. Excluding the volatile food and energy… Read More ›
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Continuing Claims Fall Sharply
According to the Unemployment Insurance Weekly Claims Report released by the U.S. Department of Labor today, weekly initial jobless claims decreased slightly for the week ending October 3, and continuing claims, which lag initial jobless claims by one week, fell sharply for the week ending September 26. The data indicate that labor market continues to recover from the COVID-19 pandemic,… Read More ›
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Employment Growth Slows in September
Employment growth slowed in September. Total payroll employment rose by 661,000 and the unemployment rate fell to 7.9% for the month. The U.S. labor market continues to recover from the COVID-19 crisis, but admittedly now at a slower pace. Residential construction employment rose by 22,100 in September to 2.9 million as housing remains a bright spot. Total construction industry (both… Read More ›
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Initial and Continuing Claims Fall
According to the Unemployment Insurance Weekly Claims Report released by the U.S. Department of Labor today, weekly initial jobless claims declined by 36,000 in the week ending September 26, and continuing claims, which lag initial jobless claims by one week, decreased by nearly 1 million to 11.8 million for the week ending September 19. The decreases in initial jobless claims… Read More ›
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Home Price Appreciation Continues in July
National home prices continued to increase at a modest pace in July. While Los Angeles posted the strongest annual growth rate among the 19 metro areas, New York experienced a home price decline. The S&P CoreLogic Case-Shiller U.S. National Home Price Index, reported by S&P Dow Jones Indices, rose at a seasonally adjusted annual growth rate of 4.7% in July,… Read More ›
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Single-Family Starts Growth Slowed in Seven Divisions in 2019
According to NAHB analysis of the Survey of Construction (SOC), nationally, 891,068 new single-family units were started in 2019, 1% higher than the units started in 2018. It was 107% higher than the trough of 2011 (430,677 units). Among all the nine Census divisions, new single-family units started in the South Atlantic, West South Central and Mountain Divisions exceeded 100k… Read More ›