NAHB - Eye on Housing
April Personal Income Up 10.5% Due to CARES
Fri, 29 May 2020 15:33:18 +0000
The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income surged in April to a seasonally adjusted annual rate (SAAR) of $20,674 billion. The 10.5% increase in personal income was largely the effects of Federal Pandemic Response Programs. Among the $360.5 billion increase in unemployment insurance, there were $132.0 billion in Pandemic Unemployment Compensation... Read More ›
Most Vulnerable Housing Markets
Fri, 29 May 2020 12:45:26 +0000
Analysis of the American Community Survey (ACS) suggests that renters and young adults under the age of 34 are likely to face higher prolonged unemployment risks as a result of the coronavirus pandemic hitting the labor market. The labor market risks are also uneven across states, with state economies heavily reliant on leisure, entertainment, retail and personal services being most... Read More ›
Pending Home Sales Fall in April
Thu, 28 May 2020 18:00:55 +0000
Following a considerable drop last month, pending home sales fell for a second straight month in April, as economic and social activities were significantly reduced. The Pending Home Sales Index (PHSI), reported by the National Association of Realtors (NAR), is a forward-looking indicator based on signed contracts. The PHSI plunged 21.8% from 88.2 in March to 69.0 in April, the... Read More ›
Continuing Jobless Claims Drop
Thu, 28 May 2020 15:43:49 +0000
The U.S. Department of Labor released the Unemployment Insurance Weekly Claims Report for the week ending May 23rd. Initial claims have declined for the eighth straight week after it hit a record peak of 6.9 million in the week ending March 28th. Continuing claims dropped by 3.86 million in the week ending May 16th, suggesting some unemployed workers are finding... Read More ›
Mortgage Activity Buoyed by Growth in Purchasing
Wed, 27 May 2020 18:00:43 +0000
The latest home buying and refinancing data have shown an increase in overall mortgage activity, as indicated by the Mortgage Bankers Association’s Weekly Application Survey. The benchmark Market Composite Index increased by 2.7% on a seasonally adjusted basis from one week earlier. The Primary Mortgage Market Survey’s interest rate hovered 2 basis points above the historical low of 3.40% reached... Read More ›
Significant Regional Employment Losses in April
Wed, 27 May 2020 13:00:14 +0000
Year-over-year (YoY), total nonfarm employment fell by 19.4 million jobs on a seasonally adjusted basis (SA), or -12.9% from April 2019 to April 2020. During this time, total nonfarm employment decreased across all the regions.  The Northeast declined by 18.2%, the Midwest by 14.5%, the Western region by 12.6% and the South by 10.7%. According to the Bureau of Labor... Read More ›