News in end use

Overall employment was little changed in July. The employment rated declined 0.2 percentage points to 60.9%.

The 30-year fixed-rate mortgage averaged 6.47%, down from last week when it averaged 6.73%, Freddie Mac reported.

The advance figure for seasonally adjusted initial unemployment claims was 233,000, a decrease of 17,000 from the previous week’s revised level.

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.

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.

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 loan application volume increased 6.9% on a seasonally adjusted basis from one week earlier, MBA reported.

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.

National nonresidential construction spending declined 0.2% in June, according to ABC. Private nonresidential spending fell 0.1%.

Employment in the construction sector increased by 25,000 in July, the BLS and NAHB reported.