According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending September 25th, 2020, the Market Composite Index, a measure of mortgage loan application volume, decreased -4.8% on a seasonally adjusted basis from one week earlier.
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Pending Home Sales Increase 8.8% in August – New Record High
The National Association of Realtors® (NAR) is reporting that their Pending Homes Sales Index (PHSI), which is based on signed real estate contracts, not actual closings, for existing single-family homes, condos, and co-ops, increased 8.8% in August to a reading of 132.8 – a record high.
Consumer Confidence Rebounds in September
The Conference Board’s Consumer Confidence Index® increased in September, following a sharp decline in August. The Index now stands at 101.8 (1985=100), up from 86.3 in August.
Strong Buyer Demand in July 2020, sends National Home Price Index Values Higher
According to the S&P CoreLogic Case-Shiller U.S. National Home Price Index, strong homebuyer demand in July, combined with historically low mortgage interest rates propelled home prices higher in major markets across the U.S. Nationally, home values rose 4.8% annually up from a 4.3% gain in June.
Home Listing for New Construction Dropped 4% in August
According to the latest report from Redfin, a technology-powered residential real estate company, based in Seattle Washington, new listings of newly-built homes dropped -4.1% year over year to a seasonally-adjusted rate of 74,000 in August, reversing course after a 3.8% gain in July.
Construction Employment Decreases in 39 States Year-Over-Year in August
According to the Associated General Contractors of America (AGC) analysis of government data, construction employment decreased in 39 states year-over-year (YOY) between August 2019 and August 2020.
Homeowners Gain Equity in Q2 of 2020, Despite COVID-19 Pandemic
According to a new report from CoreLogic, Inc., the Irvine California based corporation that provides financial, property, and consumer information analytics and business intelligence, homeowners are gaining wealth during the COVID-19 pandemic.
U.S. Consumer Sentiment Rises to Six-Month High
According to the University of Michigan’s preliminary Sentiment Index for September, U.S. consumer sentiment increased more than expected reaching a six-month high as more Americans were upbeat about the economy’s prospects.
Study Examines COVID-19 Pandemics Impact on Homeowners Vs. Renters
A recently released report from Clever Real Estate sought to discover the impact of COVID-19 on homeowners vs. renters. The report found that COVID-19 pandemic has and continues to cause housing payment – owned or rented – delinquencies.
FEA’s Weekly Order Survey Participants Report Season Sales Volumes
Dealers who responded to this week’s Builder Activity Survey continue to report that their sales volumes are close to seasonal norms. Participants along the Gulf Coast, who are dealing with flooding rains and in the West where wildfires continue to burn, are somewhat less enthusiastic than participants in other areas of the country.