News in end use


Demand for Second Homes Continued to Cool in May

According to Redfin, the Seattle-based technology-powered real estate brokerage company, the number of buyers who locked in mortgage rates to purchase a second home nationwide rose 48% year-over-year in May. While that is a lofty number, it is the first time in a year that annual growth rate fell below 80%.

U.S. Real Estate Values Soar Higher in Q1 2021

According to the latest results from the Federal Reserve’s Z.1 Financial Accounts of the United States, also known as the ‘Flow of Funds”, with analysis provided by the National Association of Home Builders (NAHB) in Q1 of 2021, the aggregate market value of all owner-occupied real estate in the US registered the largest numerical quarterly increase in the last 20 years’ worth of data.

Mortgage Credit Availability Eases in May

According to Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI), which analyzes data from the Ellie Mae’s AllRegs® Market Clarity® business information tool, mortgage credit availability increased in May. The MCAI rose by 1.4% to 129.9.

Construction Shift to Suburbs Continued in Q1 2021

According to the latest National Association of Home Builders’ (NAHB) Home Building Geography Index (HBGI), the trend that started in Q2 2020, in response to COVID-19 pandemic, of single-famil home building shifting to lower-density and low-cost markets continued unabated through Q1 2021. The suburban shift, however, has been even more pronounced in the multifamily sector, which is experiencing growth in 2021 after a slight decline in 2020.