Eye On Housing
Author Archives
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Jobless Claims Rise to the Highest Level Since Early September
In the week ending December 12, weekly initial jobless claims increased to 885,000, the highest level since early September. Continuing claims, which lag initial jobless claims by one week, decreased by 273,000. The number of initial jobless claims increased in the first two weeks of December as cities and states tightened COVID-19 restrictions. According to the Unemployment Insurance Weekly Claims… Read More ›
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Jobless Claims Rise to 853,000
In the week ending December 5, weekly initial jobless claims increase to 853,000, the highest level since mid-September. Continuing claims, which lag initial jobless claims by one week, ticked up for the first time after twelve consecutive decreases. There is no doubt that the labor market is recovering from the COVID-19 pandemic gradually. However, increases in both initial jobless claims… Read More ›
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Consumer Prices Increase in November
Both headline inflation and core inflation increased to 0.2% in November after three straight months of deceleration. In November, the monthly increase in the CPI was broad-based, though inflationary pressures remained weak. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose by 0.2% in November on a seasonally adjusted basis, after no change in October…. Read More ›
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Residential Construction Is Recovering Faster Than Non-Residential Construction
Job gains slowed sharply in November as the COVID-19 surge continued. Nonfarm payrolls increased by 245,000 in November, and the unemployment rate fell to 6.7%. Total construction industry (both residential and non-residential) employment totaled 7.4 million in November. Residential construction employment rose by 15,400 in November to 2.9 million. In the past seven months, job gains in residential construction offset… Read More ›
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Jobless Claims Fall to 712,000
During Thanksgiving week, weekly initial jobless claims declined to the lowest level since the end of March. Continuing claims, which lag initial jobless claims by one week, continued a downward trend for the week ending November 21. The labor market has been recovering from the COVID-19 pandemic gradually for the past eight months. However, it is worth noting that a… Read More ›
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Home Price Appreciation Soars in September
In September, national home price appreciation accelerated, while all 19 major markets reported home price gains. 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 18.3% in September, faster than a 17.0% increase in August. It marks the highest annual growth rate since March 2013…. Read More ›
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Jobless Claims Rise After Four Consecutive Declines
For the week ending November 14, weekly initial jobless claims rose for the first time since early October. Continuing claims, which lag initial jobless claims by one week, continued a downward trend for the week ending November 7. The labor market has been recovering from the COVID-19 pandemic gradually for the past seven months. Looking forward, the path to recovery… Read More ›
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Jobless Claims Continue to Decline
Weekly initial jobless claims declined slightly for the week ending November 7, and continuing claims, which lag initial jobless claims by one week, continued a downward trend for the week ending October 31. Labor market continues to recover from the COVID-19 pandemic but the pace is slow. According to the Unemployment Insurance Weekly Claims Report released by the U.S. Department… Read More ›
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Consumer Prices Unchanged in October
Headline inflation and core inflation have decelerated for the past three months, after increases of 0.6% in June and July. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) was unchanged on a seasonally adjusted basis, after 0.6%, 0.4% and 0.2% increases in the past three months. Excluding the volatile food and energy components, “core” CPI… Read More ›
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New Homes Built with Private Wells and Individual Septic Systems in 2019
NAHB Economics analysis of the Survey of Construction (SOC) data shows that about 9% of new single-family homes started in 2019 were served by individual wells and almost 17% have private septic systems. These shares, however, vary widely across the nine Census divisions with the corresponding shares reaching 37% and 45% in New England – the highest occurrence rates in… Read More ›