Statistics Canada (StatCan) is reporting that total investment in building construction increased 1.5% in December, following three consecutive months of declines. In December, non-residential construction investment remained at $4.4 billion for the third consecutive month.
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Housing Affordability Rates Holds Steady in Q4 2020
According to the National Association of Home Builders (NAHB) / Wells Fargo Housing Opportunity Index (HOI) in Q4 of 2020, record-high homes prices were offset by record-low mortgage rates and as a result affordability rate held steady.
Canadian Unemployment Increases 0.6% in January to 9.4%
Statistics Canada (StatCan) is reporting that January employment fell by 213,000 or -1.2%. The decline in January followed a 53,000 decline or -0.3% in December, bring employment to its lowest level since August 2020. Most of the January losses were in part-time work and concentrated in the Ontario and Quebec retail sectors and in Newfoundland and Labrador.
January 2021 Nonfarm Payroll Employment Numbers Basically Unchanged from December 2020
The U.S. Bureau of 0Labor Statistics (BLS) is reporting that total nonfarm payroll employment was basically unchanged in January 2021, increasing by only 49,000 from December. According to the BLS the improvement in the labor markets reflects the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it.
Builder Confidence in 55+ Housing Market Remained Strong in Q4 2020
The National Association of Home Builders (NAHB) produces two separate 55-housing market reports. One is for single-family homes and the other for multifamily condominiums.
Mortgage Rates Move Unchanged in Week Ending February 4th, 2021
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending February 4th, 2021. The PMMS reports that 30-year fixed-rate mortgage averaged 2.73% with an average 0.7 point, unchanged from last week.
Challenger Job-Cut Report – Planned Job Cuts Rose 3.3% in January 2021
According to the latest released Job- Cut Report from Challenger, Gray & Christmas (CG&C), Inc, a global outplacement and business and executive coaching firm, U.S. based companies announced planned job cuts rose 3.3%, to 79,552, in January 2021 from 77,030 in December 2020.
Weekly Jobless Claims Modestly Decline in the Week Ending January 30th, 2021
The U.S. Department of Labor is reporting that an additional 779,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, January 30th.
U.S. Census Bureau Releases Housing Vacancy Survey for Q4 2020
The U.S. Census Bureau has released its Housing Vacancy Survey (CPS/HVS) for Q4 2020. According to the report U.S. homeownership rate declined to 65.8% in Q4. Year-over-year the national homeownership vacancy rated decreased, while the rental vacancy rate was flat.
Buyer’s Perception of Home Affordability Improved in Q4 of 2020
The Housing Trend Report for Q4 2020, a research product created by the National Association of Home Builders (NAHB) Economics team, is reporting a rise in the number of home buyers who are reporting housing affordability is improving.