News in end use


Pending Homes Sales Index Drops -4.4% in April

The National Association of Realtors® (NAR) has reported their Pending Homes Sales Index (PHSI) — which is based on signed real estate contracts, not actual closings, for existing single-family homes, condos, and co-ops — declined -4.4% in April 2021 to a reading of 106.2. The PHSI has now declined three out of the past four months.

Mortgage Rates Drop Below 3% in the Week Ending May 27, 2021

Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending May 27, 2021. The PMMS reports that 30-year fixed-rate mortgage averaged 2.95% with an average 0.7 point, down from last week when it averaged 3.00%. A year ago, at this time, the 30-year FRM averaged 3.15%.

Median Age Of U.S. Construction Workforce

Analysis of the most recent 2019 American Community Survey (ACS) data provided by the National Association of Home Builders (NAHB) reveals that the median age of construction workers is 41, the same as typical worker in the national labor force.