The National Association of Home Builders’ analysis of Census Bureau data reveals that lot values for single-family detached spec homes continued to increase in 2022.
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US New Residential Single-Family Home Sales Decline Month-Over-Month in August
New residential single-family home sales for August were at a SAAR of 675,000, according to estimates. This is 8.7% below the revised July rate.
FHFA House Price Index Increased Month-Over-Month and Year-Over-Year in July
The Federal Housing Finance Agency US House Price Index rose 0.8% month-over-month in July, seasonally adjusted. Year-over-year, prices rose 4.6%.
S&P CoreLogic Case-Shiller US Home Price Index Rises 0.6% Month-Over-Month in July
The S&P CoreLogic Case-Shiller US National Home Price NSA Index for July reported an annual gain of 1.0%, after posting no change in June.
The Conference Board US Consumer Confidence Index Retreats for Second Consecutive Month in September
The Conference Board Consumer Confidence Index® declined to a reading of 103.0 (1985=100) in September, down from a revised August reading of 108.7.
Freddie Mac Multifamily Apartment Investment Market Index Climbs Higher for Second Consecutive Quarter
The Freddie Mac Multifamily Apartment Investment Market Index® for Q2 rose by 5.1%, marking the second straight quarter of the AIMI increasing nationwide and in all 25 markets.
Market Share of Single-Family Homes Built Offsite Lags Industry Expectations
The total share of non-site built single-family homes (modular and panelized) was 2% of all single-family homes in 2022, according to the Census Bureau and NAHB.
State-Level Analysis of Construction Sector Employment for August
31 states reported month-over-month employment gains in August, while 14 states lost construction sector jobs. Montana, Oklahoma, and Utah each reported no change.
Canada’s Unemployment Rate Increases to 5.5% in July—The Third Consecutive Monthly Increase
The number of Canadians receiving regular Employment Insurance (EI) benefits increased by 25,000, or 6.0%, to 438,000 in July.
Existing US Home Sales Decline in August
Total existing home sales declined 0.7% month-over-month in August to a seasonally adjusted rate of 4.04 million homes, the National Association of Realtors reported.