Commentary After months of decline, May’s report on homebuilding showed a surge in activity. This news gives evidence of the emergence of the crosscurrents that inflation often brings to the residential real estate market. On one side is the depressing effect of rising mortgage rates. Running counter is the attraction of real estate as an…
Housing Starts Fall to Lowest Level in 13 Months, 7 Percent Monthly Fall in Building Permits
June 17, 2022
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Business & Marketseconomyhomebuildinghousing startsinflationmortgage interest ratesnew building permitsnew constructionThe Department of Housing and Urban DevelopmentUS
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U.S. homebuilding fell to its lowest level in 13 months in May, according to the latest monthly new residential construction data released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. “Privately‐owned housing starts in May were at a seasonally adjusted annual rate of 1,549,000,” a June 16 press release…
New Report Details People’s Financial Pain; Mortgage Rates See Biggest Weekly Jump Since ’87 | NTD Business
Most Americans are struggling with rising prices, dipping into savings just to cover expenses. A new report details people’s financial pain. U.S. homebuilding plummets in May to its lowest level in over a year. What’s behind the drop? Cosmetics giant Revlon files for bankruptcy, weighed down by heavy debt, supply chain issues, and surging costs. Apple…
US Construction Spending Surges in January on Homebuilding
WASHINGTON—U.S. construction spending surged in January, boosted by strong outlays on single-family homebuilding and private nonresidential structures. The Commerce Department said on Tuesday that construction spending increased 1.3 percent. Data for December was revised higher to show construction outlays rising 0.8 percent instead of 0.2 percent as previously reported. Economists polled by Reuters had forecast…
Home Prices Rise as Construction Remains Stagnant With Supply Chain Shortages
November 18, 2021
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Business & EconomyeconomyhomebuildinginflationMarketssingle-familysupply chain bottleneckU.S. home pricesUS
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Single-home construction went down in October, while authorizations given for starting construction jumped to a 15-year high, revealing a market discrepancy with high demand but a significant shortage of supply. Single-family housing starts dropped 3.9 percent to a seasonally adjusted annual rate of 1.039 million units last month, according to a report from the Commerce…
Home Sales Dip, Prices Ease in August
Sales of previously occupied homes in the United States fell in August, breaking two consecutive months of growth, while prices eased somewhat, according to the National Association of Realtors (NAR). Existing home sales—which include single-family houses, condominiums, and co-ops—fell 2 percent in August, after rising 1.6 percent in June and 2.2 percent in July, according…
Stronger Mortgage Demand Suggests Tailwind for Housing Market
The number of applications for home mortgages rose sharply last week, according to the Mortgage Bankers Association (MBA), dovetailing with recent federal data showing a surge in building permits and pointing to a likely boost in future home sales. Total mortgage application volume rose 4.9 percent last week, according to MBA’s composite index that tracks mortgage…
US Housing Construction Tumbled 10.3 Percent in February
WASHINGTON—U.S. homebuilding dropped to a six-month low in February as severe cold gripped many parts of the country, in a setback for a housing market that remains supported by extremely lean inventories amid strong demand for larger homes. Housing starts fell 10.3 percent to a seasonally adjusted annual rate of 1.421 million units last month,…
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