A closer look into the Bureau of Labor Statistics (BLS) Job Openings and Labor Turnover Survey (JOLTS), with an eye towards the construction sector, reveals that the August open position count declined in step with the overall declines being reported in the JOLTS report for the month.
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Mortgage Applications Increase 4.6% in Week Ending October 2nd, 2020
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending October 2, 2020, mortgage applications rose 4.6% from the previous week.
U.S. Labor Department Reports Job Openings Declined in August
In its monthly Job Opening and Labor Turnover Survey (JOLTS) for August, the Labor Department reported that job openings, fell by 204,000 to 6.49 million on the last day of August.
New Speculatively Built Single-Family Detached Home Lot Size Drops to Record Low in 2019
According to the U.S. Census Bureau, the average lot size of a speculatively built, new single-family detached homes dropped to 8,177 square feet, or 0.188 of acre in 2019. This is 390 square feet less than in 2018, and sets a new record low.
Housing Inventory at Lowest Level in 10-Years as Demand Continues to Increase
Zillow reported for-sale listings dropped -34.6% below year-ago levels in early June and remain low relative to last year. This is the greatest year-over-year deficit seen since Zillow started tracking weekly statistics in 2009.
Mortgages in Active Forbearance Increase After Six Straight Weeks of Declines
The number of mortgages in active pandemic-related bailout plans rose by 21,000 in the past week after declining for six straight weeks.
Monthly Furniture Insight Survey Reveals Increased Demand for Residential Furniture as Economy Continues to Recover
A recent survey by Smith Leonard shows improving demand for residential furniture.
Personal Income Declines 2.7% in August
The Bureau of Economic Analysis (BEA) is reporting that personal income decreased in August to a seasonally adjusted annual rate (SAAR) of $19,493 billion. That is a drop of -2.7% in August due mainly to the expiration of the expanded unemployment insurance benefit, which provides a weekly supplement pay of $600 through the end of July.
Total Nonfarm Employment Up and Unemployment Down in September
According to the Bureau of Labor Statistics (BLS) Total nonfarm payroll employment rose by 661,000 in September, and the unemployment rate declined by -0.5% to 7.9%. Which represents 12.6 million Americans without employment.
FEA’s Weekly Order Survey Participants’ Views Vary Greatly from Region to Region
FEA’s Weekly Order Survey respondents’ views on their market’s activity not only varied from region to region but also appeared to reflect on whether the builder was building custom homes or tract housing.