Home prices jump higher due to stronger demand from buyers seeking more space due to coronavirus pandemic.
News in end use
Townhouse Construction Declines Further in Q3 2020
Analysis provided by the National Association of Home Builders (NAHB) reveals that townhouse construction continues to decline.
COVID-19 Pandemic Proves to be a Catalyst for Home Improvement
The COVID-19 pandemic has altered how many Americans work and go to school. Instead of large office complexes and classrooms, many Americans continue to work and receive educational instruction from their homes.
Large City Canadian Condo Owners Struggle to Sell Their Units Delaying Moves to Single-Family Home
Condo owners in Canada’s largest cities like Toronto and Vancouver are ready to pack up and move to new single-family detached homes. The current interest rates are attractive and having a back yard for the kids to play would be a real bonus.
Consumer Comfort Index Matches Early April Levels
The Bloomberg Consumer Comfort Index (BCCI), which was released on Thursday (11/19) rose 1.8 points to a reading of 49.8 last week. Not only matching a mid-September reading that was strongest since early April, but also marking three straight weeks of improvement.
New Single-Family Home Sizes Are Stabilizing and Starting to Grow
According to Q3 2020 data from the US Census Bureau’s Quarterly Starts and Completion by Purpose and Design report, and with analysis provided by the National Association of Home Builders (NAHB), after years of steady decline, new home sizes appear to be finally stabilizing and perhaps even growing.
Outlook for Multifamily Housing Market Continued to Improve in Q3 2020
After hitting a rough patch in Q1 of 2020, confidence in the multifamily housing market continued to grow in Q2 and again in Q3.
Leading Economic Indicators in U.S. Continued to Increase in October
The Conference Board Leading Economic Index® (LEI) for the U.S. increased 0.7% in October to a reading of 108.2 (2016 = 100), this following a similar 0.7% increase in September and a 1.6% increase in August.
Existing Home Sales Increase 4.3% Month-Over Month and 26.6% Year-Over-Year in October
The National Association of Realtors® (NAR) has reported that total existing-home sales in October, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 4.3% above September, to a seasonally-adjusted annual rate of 6.85 million in October.
Mortgage Rates Set New Record Lows in the Week Ending 19th November 2020
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending 12th November 2020. The PMMS shows that 30-year fixed-rate mortgage averaged 2.72% with an average 0.7 point, down from last week when it averaged 2.84%.