(1) One indicator with a strong record for reliability concerning the health of the U.S. labor market is the weekly initial jobless claims figure released by the Bureau of Labor Statistics (BLS). A number above 300,000 generally correlates with high unemployment and recession. As the figure descends below 300,000, however, the labor market is tightening. Down around 200,000, the unemployment rate will be about as low as it ever manages to go. Tha
Confidence among U.S. single-family home builders fell for a record 12th straight month in December as even a scramble to offer incentives for prospective buyers failed to boost traffic and lift sales in today's high-inflation, high-interest rate environment.Kicking off a week of key reports on the health of the foundering U.S. housing market, the National Association of Home Builders on Monday said its NAHB/Wells Fargo Housing Market Index dropp
Housing starts fell 0.5% below October levels, to a seasonally adjusted rate of 1.43M, while completions rose 10.8% month over month, according to US Census Bureau data issued Tuesday Housing starts and new building permits both posted declines in November while building completions logged a monthly increase during the same period, according to U.S. Census Bureau data released Tuesday.Newly issued building permits dropped 11.2
NAR Chief Economist Lawrence Yun draws the distinctions between today’s real estate market and that of more than a decade ago. Many homeowners are still haunted by the 2008 housing crash when property values collapsed and foreclosures spiked. The memory of sudden catastrophe at a time when the real estate market had been riding high may help explain why 41% of Americans say they now fear a housing crash in the next year, according to a new surv
It has been a decade! A full 10 years of striving to provide better real estate services and lifestyles for everyone in our grasp. We thank every one of our loyal members and look forward to continuing our relationship on even more prosperous grounds. And we also thank each and every individual that has put their faith into our members and worked with us to get your own dreams fulfilled. With over $300 million in sales in over 1K transactions, sa
New housing construction has fallen but is on par historically The following is one of the hundreds of data sets available on TRD Pro — the one-stop real estate terminal for all the data and market information you need.Given inflation, rising interest rates, economic uncertainty and flatlining home prices, one would expect that housing construction would be at an all-time low.Not even close.Though new housing starts in the U.S. have d
The U.S. Census Bureau on Thursday reported that total U.S. construction spending was at a seasonally adjusted annual rate of approximately $1.79 trillion in October, a decrease of 0.3% from September's revised figure of $1.8 trillion.Total spending was 9/2% higher than what the Census Bureau reported for October 2021. Spending from January through October of 2022 totaled almost $1.51 trillion, 10.8% higher than the same period in 2021.Total
UK-based construction productivity startup adds new tool for daily site decisions Disperse.io, a U.K.-based construction technology company with a platform that uses artificial intelligence to help project managers track work, capture data from building sites and make better project decisions, has launched a new product, Impulse, that highlights issues gleaned from 360° site scans captured in its platform.Impulse integrates performance insights
Builders have become more eager to offer prospective home buyers incentives— including more affordable rate buy-downs, reduced closing costs and free amenities—as mortgage rates soared to a 22-year high last quarter and more homes emerged on the market.KEY FACTS Ryan Marshall, president and CEO of home construction company PulteGroup Inc., said during a second-quarter earnings call that a majority of incentives offered are longer-
A measure of US homebuilder sentiment dropped for a 10th straight month in October, hitting the lowest level since the early days of the pandemic and illustrating a housing market battered by soaring mortgage rates.The National Association of Home Builders/Wells Fargo gauge decreased 8 points to 38, the weakest since May 2020, figures showed Tuesday. The gauge was weaker than the most pessimistic forecast in a Bloomberg survey of economists.Senti
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