News in end use


Home Buyers Are Again Considering Condo Living

In its latest report, Redfin, the Seattle-based technology-powered real estate broker, is reporting that the typical condo in the U.S. sold above its asking price in June, just the second time since at least 2012. The first time was in the month of May, and is signaling renewed homebuyer competition for condos after a pandemic-fuel slump. Nationwide, the typical condo sold for 0.7% above its asking price in June, following a premium of 0.4% in May.

Conference Board Leading Economic Index for the U.S. Increased 0.7% in June

The Conference Board, which was founded in 1916 as a non-partisan, not-for-profit think tank, released Thursday (7-22-21) their June 2021 Leading Economic Index® (LEI) for the U.S. According to the release, the LEI (which is based on ten separate components) increased 0.7% in June to 115.1 (2016 = 100), following a 1.2% increase in May and a 1.3% increase in April.

Existing Homes Sales Increase 1.4% in June

The National Association of Realtors® (NAR) reported that total existing home sales — completed transactions for single-family homes, townhomes, condominiums, and co-ops — increased 1.4% from May to a seasonally adjusted rate at 5.86 million homes in June. Year-over-year sales are up 22.9% (4.77 million June 2020).

Americans Continue to Want to be Homeowners

According to the latest National Association of Home Builders (NAHB) Housing Trend Report (HTR) for Q2 of 2021, 17% of American adults polled indicated that they are considering the purchase of a home within a year. The share (now seasonally adjusted) has increased for five quarters in a row.

Mortgage Applications Declined in the Week Ending July 16, 2021

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending July 16, 2021, the Market Composite Index — a measure of mortgage loan application volume — decreased -4.0% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased -20% compared with the previous week.