ADP has released their National Employment Report® (NER) for October 2020. According to the report private sector employment increased by 365,000 jobs from September to October.
News in end use
Mortgage Applications Increased 3.8% in Week Ending 30th October 2020
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending October 30th 2020, the Market Composite Index, a measure of mortgage loan application volume, increased 3.8% on a seasonally adjusted basis from one week earlier.
Smaller Multifamily Buildings Gaining Traction
The trend that favored larger multifamily unit buildings over recent years appears to be slowly changing. According to data from the Census Bureau Survey of Construction (SOC) of 2019, there was a slight increase in the number of multifamily units being built on smaller properties.
Redfin CEO Convinced Housing Market Will Stay Tight into 202
Redfin, the Seattle-based real estate brokerage firms, CEO Glenn Kelman says he is convinced that the housing market will stay tight into 2021. Kelman notes that while this is good for sellers, it is not such great news for buyers.
Personal Income Increases in September, Following August’s -2.5% Decline
A closer look into the most recent data release from the Bureau of Economic Analysis (BEA) reveals that personal income increased to a seasonally adjusted annual rate (SAAR) of $19,804 billion in September.
U.S. Construction Spending Up in September and for the First Nine Months of 2020.
The U.S. Census Bureau has announced that total construction spending during September 2020 was estimated at a seasonally adjusted annual rate of $1,414.0 billion, 0.3% above the revised August estimate of $1,410.4 billion.
Housings Impact on the GDP in Q3 2020
According to the ‘advance’ estimate released by the Bureau of Economic Analysis (BEA), real gross domestic product (GDP) increased at an annual rate of 33.1% in Q3 of 2020.
Builder Confidence in the 55+ Single-Family Housing Market Reaches New Record High in Q3 2020
The National Association of Home Builders (NAHB) is reporting that builder confidence in the single-family 55+ housing market reached an all time high in Q3 of 2020, rising 18 points to a reading of 83.
U.S. Consumer Confidence at Lowest Point Since August
According to data released on Thursday (10/29) the Bloomberg Consumer Comfort Index (CCI), a weekly measure of U.S. consumer confidence, fell to a reading of 46.3 last week on a zero to 100 scale.
FEA’s Weekly Order Survey Participants Report a Slight Uptick in Jobsite Sales Activity
Dealers responding to FEA’s Weekly Order Survey noted a slight uptick in their jobsite sales activity. As the calendar moves into November, builders, especially in the northern tier, are rushing to get jobsites under roof and prepared for the onset of more winterlike weather.