According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending 21st August 2020, the Market Composite Index, a measure of mortgage loan application volume, decreased -6.5% on a seasonally adjusted basis from one week earlier.
News in end use
Work Stoppage at Port of Montreal Ends with Talks Scheduled to Resume
According to the Canadian Press, the 12-day work stoppage at the Port of Montreal ended on Friday August 21st, with a truce being declared between the longshore workers and the Port Authority.
An In-depth View of the July Construction Industry Sector Job Data
The National Association of Home Builders has conducted a deeper dive into the Bureau of Labor Statistics nationwide total nonfarm payroll employment for the month of July.
The International Code Council® Has Developed a List of Suggested Remote Virtual Inspection Practices
The COVID-19 pandemic has changed the way builders and contractors are performing their jobsite activities. The same holds true for how cities, counties and states are conducting jobsite inspections.
Single New Family Home Sales Soar in July
The U.S. Census Bureau and U.S. Department of Housing and Urban Development are reporting that according to estimates sales of new single-family houses in July 2020 were at a seasonally adjusted annual rate of 901,000.
U.S. Home Prices Increase in Q2 of 2020
According to the Federal Housing Finance Agency (FHFA) House Price Index (HPI) U.S. house prices rose 5.4% from the second quarter of 2019 to the second quarter of 2020.
S&P CoreLogic Case-Shiller Index Reports Home Prices Gained 4.3% in June
According to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, home prices rose annually 4.3% in June, unchanged from the gain seen in May.
Consumer Confidence Declines For Second Consecutive Month in August
According to the Conference Board Consumer Confidence Index®, declined further in August, after declining in July. The Index now stands at 84.8 (1985=100), down from 91.7 in July.
Single-Family Built-for-Rent Construction Posts Small Decline in Q2 2020
According to analysis provided by the National Association Home Builders of the U.S. Census Bureau’s Quarterly Starts and Completion by Purpose and Design, the number of single-family homes built-for-rent (SFBFR) posted a minor year-over-year decline in the second quarter of 2020.
Dodge Data Shows Decline in Nonresidential Projects as Housing Starts and Permits Soar
Unlike this week’s U.S. Census Bureau’s Housing Starts and Permits report for July, which indicated a strong rebound in residential building, the three private measures of recent and expected nonresidential construction activity were all in the negative.