HouseCanary, Inc., the San Francisco-based technology and data-forward national real estate brokerage firm, has released its latest Market Pulse Report (MPR) covering 22 listing-targeted measures and comparing data between January 2021 and January 2022. The Market Pulse is an ongoing review of proprietary data and insights from HouseCanary’s nationwide platform.
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Multifamily Housing Sector Experiences Record-Breaking Growth in 2021
According to a new report from CBRE Group Inc., 2021 was a record-breaking year for the multifamily housing industry. In Q4 2021, total investment volume was $148.9 billion, a 73% quarter-over-quarter increase. This growth brings 2021’s total investment to $335.3 billion, which is nearly double the previous record of $193.1 billion set in 2019.
Canadian Unemployment Rate Rises in January
Statistics Canada (StatsCan) reported today (2-4-22) that Canadian employment fell by 200,000 (-1.0%) in January, and the unemployment rate increased 0.5 percentage points to 6.5%. The total number of unemployed people increased by 106,000 (+8.6%) to 1.34 million. This marks the first increase in the unemployment rate in nine months.
Construction Sector Employment Declined in January 2022
A closer look at the Bureau of Labor Statistics (BLS) Nonfarm Payroll Report, with a specific emphasis on the construction industry and analysis provided by the National Association of Home Builders (NAHB), reveals that employment in the construction sector overall declined by 5,000 in January — ending six consecutive months of increases.
U.S. Nonfarm Payroll Increases by 467,000 in January; Unemployment Inches Higher to 4.0%
The U.S. Bureau of Labor Statistics (BLS) reported today (2-4-22) that total nonfarm payroll employment increased by 467,000 in January. Nonfarm payroll employment has increased by 19.1 million since April 2020 but is down by -2.9 million, or -1.9%, from its pre-pandemic level in February 2020.
30-Year Fixed Mortgage Rate Flat, but 15-Year Fixed Rate Slightly Lower in Week Ending February 3, 2022
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending February 3, 2022. The PMMS reports that the 30-year fixed-rate mortgage averaged 3.55% with an average 0.8 point, unchanged from last week. A year ago at this time, the 30-year FRM averaged 2.73%.
Weekly Jobless Claims Decline for Second Consecutive Week in the Week Ending January 29, 2022
The U.S. Department of Labor is reporting that an additional 238,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, January 29, 2022. This is a decrease of 23,000 from the previous week’s revised level. The 4-week moving average was 255,000.
U.S.-Based Employers Job Cut Report Little Changed Month-Over-Month in January 2022
According to the latest Job Cut Report from Challenger, Gray & Christmas (CG&C), Inc, a global outplacement and business and executive coaching firm, job cuts announced by US-based employers in January 2022 were almost identical to the December 2021 levels. January’s job cuts were 19,064 — up 0.063% from December’s 19,052.
Canadian Building Permits Decline in December
Statistics Canada (StatsCan) reported today (2-2-22) that the total value of building permits decreased -1.9% to $11.2 billion (CAD) in December. Declines were reported in both the residential and non-residential sectors. On a constant dollar basis (2012=100), the total value of building permits decreased -3.1%.
Residential Vacancies and Homeownership Statistics Released for Q4 2021
The national vacancy rates in Q4 2021 were 5.6% for rental housing and 0.9% for homeowner housing. The rental vacancy rate was -0.9 percentage points lower than the rate in Q4 2020 of 6.5% and not statistically different from the rate in the Q3 2021 of 5.8%. The homeowner vacancy rate of 0.9% was -0.1 percentage points lower than the rate in Q4 2020 of 1.0% and was the same as the rate in Q3 2021, 0.9%.