The Conference Board, a non-partisan, not-for-profit think tank, founded in 1916, released today (6-27-23), its Consumer Confidence Index® (CCI) for […]
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Associated Builders and Contractors Construction Backlog Indicator Holds Steady in May
The Associated Builders and Contractors’ Construction Backlog Indicator remained unchanged month-over-month at 8.9 months in May. Year-over-year, the reading was 0.1 months lower.
Fannie Mae’s Economic and Strategic Research Group’s June Economic Commentary: Recession Likely
Recent months of mixed macroeconomic information has painted a jumbled picture of conditions; however, the Group continues to believe a recession is the most likely outcome of the rapid tightening of monetary policy and the late stages of business cycle dynamics.
Zillow Explores the US Housing Affordability Crisis and the Millions of “Missing” Households
Zillow reported in a new market analysis that a substantial shortage of affordable housing options is fueling an affordability crisis in the US. Zillow notes that in particular those looking to move out on their own for the first time are being significantly impacted.
State-Level Analysis of Construction Sector Employment for May
Analysis provided by the National Association of Home Builders reveals that 23 states reported an increase in construction jobs in May compared to April, while 21 states lost construction sector jobs.
US Existing-Home Sales Inched Higher Month-Over-Month in May
The National Association of Realtors® reported that total existing home sales recorded a 0.2% increase in May from April to a seasonally adjusted rate of 4.30 million homes. Year-over-year, sales are down 20.4%.
Fixed Mortgage Rates Creep Lower in the Week Ending June 22nd
The 30-year fixed-rate mortgage averaged 6.67%, down from last week when it averaged 6.69%. A year ago at this time, the 30-year FRM averaged 5.81%.
US Leading Economic Index® Declined Further in May, The Conference Board Reports
The Conference Board Leading Economic Index® (LEI) for the US declined 0.7% in May to a reading of 106.7 (2016=100), after posting declines of 0.6% in April and 1.2% in March. The LEI has dropped 4.3% over the six-month period from November 2022 to May.
US Weekly Jobless Claims Unchanged in the Week Ending June 17th
The advance figure for seasonally adjusted initial unemployment claims was 264,000 during the week ending on Saturday, June 17th. This is unchanged from the previous week’s revised level. The 4-week moving average was 255,750—an increase of 8,500.
Number of US Homes For Sale Declines Year-Over-Year in May, Reaching The Lowest Level Since 2012
Redfin reported that in May the number of homes for sale in the US declined 7.1% year-over-year to 1.4 million units on a seasonally adjusted basis. That is the lowest level in Redfin’s database, which dates back to 2012.