Employment Situation in July: State-Level Analysis
Nonfarm payroll employment increased in 36 states in July compared to the previous month, while 14 states and the District of Columbia lost jobs. According to the Bureau of Labor…
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Rising Mortgage Rates and Home Prices Put a Damper on Housing Affordability
Rising home prices and interest rates coupled with elevated construction costs, low existing inventory and solid demand resulted in a significant decline in housing affordability during the second quarter of…
New Home Sales Increasingly Backed by FHA Loans
NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the share of new home sales backed by FHA loans climbed from 12.1% (revised) to…
Employment Situation in June: State-Level Analysis
Nonfarm payroll employment increased in 38 states and the District of Columbia in June compared to the previous month, while 12 states lost jobs. According to the Bureau of Labor…
Remodeling Market Sentiment Edged Down in Second Quarter of 2023
The NAHB/Westlake Royal Remodeling Market Index (RMI) for the second quarter of 2023 posted a reading of 68, edging down 2 points from the first quarter of 2023. Even though…
Mortgage Activity Increases Despite Rates Topping 7%
Per the Mortgage Bankers Association’s (MBA) survey through the week ending July 7th, total mortgage activity increased 0.9% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate…
Existing Home Sales Up Slightly in May
After two consecutive monthly declines, existing home sales saw a modest increase in May as mortgage rates were relatively steady in April, according to the National Association of Realtors (NAR)….