The National Association of Home Builders (NAHB) /Wells Fargo Housing Market Index (HMI) indicates that builder confidence in the market for newly built single-family homes declined 3-points to a reading of 83 in January.
News in covid 19
Federal Housing Finance Agency Extends Moratorium on Single-Family Foreclosures and Real Estate Evictions Through February 2021
The Federal Housing Finance Agency (FHFA) announced today (1/19/21) that Fannie Mae and Freddie Mac are once again extending moratoriums on single-family foreclosures and real estate owned evictions through the February 28th, 2021.
Canadian Home Sales Jump 7.2% from November to December – 47.2% Year-Over-Year
The Canadian Real Estate Association (CREA) is reporting that home sales in Canada jumped 7.2% in December from November. Setting a new record amid surging demand in the Greater Toronto and Vancouver areas. CREA noted that actual sales, not seasonally adjusted, rose 47.2% year-over-year.
U.S. Consumer Sentiment Moves Lower in Early January
According to the latest (1/15/21) University of Michigan’s Consumer Sentiment Survey U.S. consumer sentiment declined in early January to a reading of 79.2 down from December’s final reading of 80.7.
Shares of Mortgages in Forbearance Declined in Weekending January 3rd, 2021
The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance decreased from 5.53% of servicers’ portfolio volume in the prior week to 5.46% as of January 3, 2021.
Small Business Confidence Drops in December
The National Federation of Independent Business (NFIB) Small Business Optimism Index declined 5.5 points from November, to a reading of 95.9 in December. Falling below the historical average reading of 98, which was established in 1973.
October’s Monthly Furniture Insight Survey Reports Increasing Demand for Residential Furniture as Economy Continues to Recover from the COVID-19 Pandemic
Smith Leonard’s latest Monthly Furniture Insight survey of residential furniture manufacturers and distributors continues to show ongoing improvement. The survey considered a 40% increase in new orders over October 2019.
The Number of Homes For Sale in U.S. Hits New Record Low Level in December
According to the Monthly Housing Trends Report published by Realtor.com, the number of U.S. homes for sale dipped below 700,000 for the first time, setting a new record low mark for listed inventory. Year-over-year, the number of homes for sale nationally was down by 39.6%, with 449,000 fewer homes for sale when compared to December 2019.
Delinquency Rates on Commercial and Multifamily Properties Increase for Second Consecutive Month in December
According to the latest Mortgage Banker Association’s (MBA) latest monthly MBA CREF Loan Performance Survey, the delinquency rates for mortgages backed by commercial and multifamily properties, which includes lodging and retail properties, increased for the second consecutive month in December.
Nonfarm Payroll Declines in December
The Bureau of Labor Statistics (BLS) is reporting that in December total nonfarm payroll employment declined by 140,000. The unemployment rate held steady at 6.7%, or 10.7 million unemployed persons.