The National Association of Realtors® (NAR) is reporting that 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, increased 8.0% to a reading of 114.7 in May.
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ADP Reports Private Sector Employment Increased by 692,000 Jobs in June
According to the June ADP® National Employment Report™, nonfarm private sector employment private sector employment increased by 692,000 jobs from May to June.
Mortgage Applications Drop -6.9% in the Week Ending June 25th, 2021
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending June 25th, 2021, the Market Composite Index , a measure of mortgage loan application volume decreased -6.9% on a seasonally adjusted basis from one week earlier.
The Conference Board Reports Consumer Confidence Continued to Improve in June 2021
The Conference Board, a non-partisan, not-for-profit think tank, which was founded in 1916, released today (6-29-21) their Consumer Confidence Index® (CCI) for June 2021. The CCI improved further in June, following gains in each of the previous four months.
Home Prices in April Surge 14.6% Annually in New S&P CoreLogic Case-Shiller Home Price Index
According to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. Census divisions, home prices experienced a 14.6% annual gain in April 2021, up from 13.3% in March. The 10-City Composite annual increase came in at 14.4%, up from 12.9% in the previous month.
Federal Housing Finance Agency Reports U.S. Home Prices Increase 1.8% Month-Over-Month and 15.7% Year-Over-Year in April 2021
According to the Federal Housing Finance Agency (FHFA) House Price Index (HPI®) U.S. house prices increased 15.7% from April 2020 to April 2021. FHFA’s seasonally adjusted monthly index for April 2021, was up 1.8% from March 2021 upwardly revised 1.6% increase.
Shares of Mortgages in Forbearance Decline for 17th Week in a Row in Week Ending June 20th, 2021
The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance decreased by 2 basis points from 3.93% of servicers’ portfolio volume in the prior week to 3.91% as of June 20, 2021.
Real GDP at State-Level for Q1 2021
According to the latest U.S. Bureau of Economic Analysis (BEA), with further evaluation provide by National Association of Home Builders (NAHB), real gross domestic product (GDP) when compared to Q4 of 2020, advanced in all 50 states and the District of Columbia in Q1 2021.
Housing Market Continues to Cool as Mortgage Rates Move Higher
Redfin is reporting that the Redfin Homebuyer Demand Index (HDI) has fallen below 2020 levels for the first time this year, down -1% year-over-year in the week ending June 20th, 2021.
Home Builders Cut Construction Time by 10-days in 2020
According to the U.S. Census Bureau’s 2020 Survey of Construction (SOC), with analysis provided by the National Association of Home Builders (NAHB), the average completion time of a single-family house was around 7.8 months, which typically includes a little over a month from authorization to start and
another 6.8 months to finish the construction. It took approximately 10 days less in 2020 when compared to 2019, pausing the upward trend started in 2014.