Eye On Housing
Author Archives
-
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 ›
-
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 ›
-
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 ›
-
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 ›
-
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 ›
-
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 ›
-
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 ›
-
Residential Construction Employment Is Higher Than a Year Ago
The recovery of overall labor market continued but at a slow pace. In October, 638,000 nonfarm payroll jobs were added, and the unemployment rate fell to 6.9%. However, October residential construction employment was 11,500 higher than a year ago, marking the first year-over-year gain since the recession of 2020. Residential construction employment rose by 23,800 in October to 2.9 million… Read More ›
-
Jobless Claims Decline Slightly
Weekly initial jobless claims declined slightly for the week ending October 31, and continuing claims, which lag initial jobless claims by one week, continued a downward trend for the week ending October 24. The modest decreases in initial and continuing claims reflect that labor market continues to recover from the COVID-19 pandemic but the pace is slow. According to the… Read More ›
-
Jobless Claims Continue to Fall
Weekly initial jobless claims decreased for the week ending October 24, and continuing claims, which lag initial jobless claims by one week, fell for the week ending October 17. The decreases in initial and continuing claims reflect that labor market continues to recover from the COVID-19 pandemic gradually. According to the Unemployment Insurance Weekly Claims Report released by the U.S…. Read More ›