The Conference Board, a non-partisan, not-for-profit think tank, which was founded in 1916, released today (2-23-21) their Consumer Confidence Index® (CCI) for February 2021. The Index now stands at 91.3 (1985=100), up from 88.9 in January.
News in end use
Town House Construction Reaches a 2.5 Year High in Q4 2020
Analysis of the most recent U.S. Census Bureau’s data of Starts and Completions by Purpose and Design, provided by the National Association of Home Builders (NAHB) reveals that townhouse construction expanded to a 2.5 year high during Q4 of 2020.
New Family Home Size Stabilize in Q4 2020 as Pandemic Shifts Consumer Preferences
According to Q4 2020 data from the U.S. Census Bureau’s Quarterly Starts and Completion by Purpose and Design and analysis provide by the National Association of Home Builders (NAHB), new home sizes did level off in 2020 after years of decline. This was driven by the impact of the COVID-19 pandemic and home buyers’ need for additional space as people use their homes for more purposes.
January Housing Market Remains Red Hot with Double-Digit Increases in Home Sales and Prices
Redfin, the Seattle-based technology-powered real estate brokerage is reporting that the national medium home-sale price rose 14% year-over-year to $ 330,500 in January.
The Conference Board’s Leading Economic Index Increases in January 2021
The Conference Board, which was founded in 1916 as a non-partisan, not-for-profit think tank, today (2-22-21) released their January 2021, Leading Economic Index (LEI) for the U.S. According to the release, the LEI, which is based on ten separate components, increased 0.5% in January 2021 to a reading of 110.3 (2016=100), following a 0.4% increase in December 2020 and 0.9% increase in November 2020.
Canadian Confidence Index Reaches 16-Month High in February 2020
The Bloomberg Nanos Canadian Confidence Index (CFI), which measures Canadian household sentiment on subjects such as job security, personal finances and their outlook for both the economy and real estate prices, jumped last week to the highest since October 2019.
Existing-Homes Sales Climb Higher in January 2021 – Up Year-Over-Year by 23.7%
The National Association of Realtors® (NAR) reported that total existing home sales, completed transactions that include single-family homes, townhomes, condominiums, and co-ops, increased 0.6% from December 2020 to a seasonally adjusted annual rate of 6.69 million in January 2021.
Builders and Developers Experience Lower Interest Rates and Improved Credit Conditions in Q4 2020
The lower mortgage interest rates that home buyers have been enjoying at the end of 2020, have finally made their way to builders and developers, who are now experiencing lower interest rates and improved credit conditions.
Year-Over-Year Construction Starts on Single-Family Homes Built for Rent Increase by 50% in Q4 2020
A deeper look into the U.S. Census Bureau’s Quarterly Starts and Completion by Purpose and Design, conducted by the National Association of Home Builders reveals that the number of single family-homes built for rent (SFBFR) construction starts posted a year-over-year increase in Q4 of 2020.
30-Year Mortgage Rate Moves to its Highest Level Since Mid-November in Week Ending February 18, 2021
The PMMS reports that 30-year fixed-rate mortgage averaged 2.81% with an average 0.7 point, up from last week when it averaged 2.73%.