On Thursday, Redfin reported that according to its data, the total value of US homes gained $3.1 trillion over the past 12 months to reach a record $49.6 trillion.
News in end use
US Multifamily Developer Confidence in Q2 Declines Year-Over-Year
The NAHB produces two separate indices: The Multifamily Production Index had a reading of 44, a decrease of 12 points year-over-year, while the Multifamily Occupancy Index had a reading of 81, falling 8 points year-over-year.
Fannie Mae Home Purchase Sentiment Index® Trends Lower in July
The HPSI decreased 1.1 points in July to a reading of 71.5, as an overall lack of affordability continues to hamstring consumer sentiment toward the housing market.
Mortgage Applications Increase in the Week Ending August 2nd
Mortgage loan application volume increased 6.9% on a seasonally adjusted basis from one week earlier, MBA reported.
Nonresidential Construction Employment Increases in July
The construction industry added 25,000 jobs on net in July, the Census Bureau and ABC reported. Year-over-year, industry employment has expanded by 239,000.
Nonresidential Construction Spending Declines in June
National nonresidential construction spending declined 0.2% in June, according to ABC. Private nonresidential spending fell 0.1%.
US Construction Employment Increases in July
Employment in the construction sector increased by 25,000 in July, the BLS and NAHB reported.
Potential US Homebuyers Remain Sidelined Even As Payments Hit Lowest Level Since March
The median US monthly housing payment was $2,667 during the four-week period ending on July 28th, Redfin reported.
US Nonfarm Payroll Increases in July, but Unemployment Trends Higher
Nonfarm payroll employment increased by 114,000 in July. The unemployment rate increased 0.2 percentage points to 4.3%.
US Monthly Construction Spending Declines in June
Total construction spending during June was estimated at a SAAR of $2,148.4 billion, 0.3% below the revised May estimate of $2,154.8 billion.