News in end use

According to the latest Census Bureau’s Survey of Construction (SOC) data, with analysis provided by the National Association of Home Builders (NAHB), lot values for single-family detached homes started in 2020 surged 18%. This resulted in the median lot price reaching a new record high of $53,000.

The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance decreased by 7 basis points from 3.47% of servicers’ portfolio volume in the prior week to 3.40% as of August 1, 2021. According to MBA’s estimate, 1.7 million homeowners are in forbearance plans.

The Federal Reserve Board has released the Q2 2021 G-19 Report. The G-19 reveals that in Q2 2021, non-real estate-secured consumer credit increased at a seasonally adjusted annual rate (SAAR) of 8.8%. Revolving debt increased by 10.7% and nonrevolving debt increasing by 8.3%.

The Bureau of Labor Statistics (BLS) reported on Tuesday (8-10-21) that nonfarm business sector labor productivity increased 2.3% in Q2 of 2021. This occured as output increased 7.9% and hours worked increased 5.5% at a seasonally adjusted annual rate (SAAR).

Redfin, the Seattle-based, technology-powered, real estate company, is reporting that in the four-week period ending July 25, 2021, for the first time since early March 2021, the median home-sales price of $362,750 did not set a new record high. Instead, it was flat (-0.2%) but was still 18% higher year-over-year.

According to the latest CoreLogic Home Price Index™ (HPI) and HPI Forecast™ for June 2021, home prices have increased 17.2% from June 2020 — a rate of growth not seen since the late 1970’s. Month-over-month home prices increased by 2.3% compared to May 2021.

A look at the Bureau of Labor Statistics (BLS) Job Opening and Labor Turnover Survey (JOLTS) with a focus on construction, and with analysis provided by the National Association of Home Builders (NAHB), reveals the count of open construction jobs increased in June to 339,000 unfilled positions. Overall, hiring in the construction sector remained solid in June, increasing to a 4.8% rate.

The U.S. Bureau of Labor Statistics (BLS) today (8-9-21) reported its Job Opening and Labor Turnover Survey (JOLTS) for June 2021. According to the JOLTS report, as of the last business day in June, the number and rate of job openings was at a series record high of 10.1 million, or +590,000.

Statistics Canada (StatsCan) today (8-6-21) released the July Labor Force Survey (LFS), which reflects labor market conditions during the week of July 11 to July 17, 2021. According to the LFS, employment in Canada rose by 94,000 (+0.5%) in July, adding to an increase of 231,000 (1.2%) in June.

The U.S. Bureau of Labor Statistics (BLS) reported today (8-6-21) that total nonfarm payroll employment increased by 943,000 in July, following a 938,000 increase in June, 559,000 increase in May, disappointing increase of 278,999 in April, and surge of 785,000 in March.