Year-over-Year Gains for Construction Job Openings
…additional labor, lots and lumber and building materials to add inventory. Hiring in the construction sector remained solid in December, albeit easing to a 4.3% growth rate. The post-virus peak…
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Housing Share of GDP: 16.4%
…a 6.9% growth rate, driven by inventory investment. Residential fixed investment (home building and remodeling) was effectively flat. During the fourth quarter of 2021, housing’s share of GDP stood at…
Market Share of FHA-Backed New Home Sales Smallest Since 2007
…Association of Realtors, 23% of existing home transactions were all-cash sales in December 2021, down from 24.0% in November 2021 and up from 19.0% in December 2020. Different sources of…
Fed Rate Hike Coming in March
At the conclusion of its January policy meeting, the Federal Open Market Committee strongly signaled that it will undertake its first, post-covid increase of the federal funds rate in March….
New Home Sales Increase in December
…gain over revised November rate of 725,000. The December 2021 rate is 14.0% below the December 2020 estimate of 943,000, when demand was unsustainably strong due to historically low mortgage…
Employment Situation in December: State-Level Analysis
…of 5,600 jobs. In percentage terms, West Virginia employment increased by 0.8% while South Dakota reported a 0.3% decline between November and December. Year-over-year ending in December, 6.4 million jobs…
Impacts of Rising New Home Costs
…start of the pandemic). Since then, however, interest for new construction has fallen steadily, as costs for building materials – especially lumber – have experienced double-digit growth. By the final…