According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending 24th July 2020, the Market Composite Index, measure of mortgage loan application volume, decreased -0.8% on a seasonally adjusted basis from one week earlier.
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Consumer Confidence Index® Declines -5.7 Points in July
After a large increase in June, the Conference Board’s Consumer Confidence Index® declined in July. The Index currently is at 92.6 (1985=100), down from 98.3 in June.
FHA Backed Sales Increase in Second Quarter of 2020
A closer examination of the recently released Quarterly Sales by Price and Financing reported by the U.S. Census Bureau reveals that FHA-Backed sales made up 20.4% of new home sales in the second quarter of 2020.
CoreLogic® Reports Home Price Appreciation Slowed Slightly in May 2020
CoreLogic® has released its CoreLogic Home Price Index (HPI™) and HPI Forecast™ for May 2020. The index is reporting that home prices rose 4.5% year-over-year, but were down -0.1% from April’s reported 4.6%.
Affordability Remains a Stumbling Block to Home Ownership in 2nd Quarter of 2020
A deeper look into the second quarter of 2020’s National Association of Home Builders (NAHB) Housing Trend Report (HTR) reveals that only 23% of prospective buyers can afford at least half of the homes available in the areas they are searching.
Shift from Urban Condo to Suburban New House Living Continues
A deeper dive into the U.S. Commerce Department’s report on the sales of new single-family homes for June reveals that as the COVID-19 pandemic continues there is a noticeable move from condos towards new houses.
First-Time Existing Homebuyers Increase Their Share in the Marketplace
According to the June Realtor® Confidence Index Survey, the share of first-time homebuyers who purchased existing homes rose to 35% of total sales.
Canada’s Atlantic Provinces Lumber & Building Materials Dealers Discuss Product Shortages
Lumber, hardware and building materials dealers throughout Canada’s Atlantic provinces are reporting that they are experiencing, a shortage of key lumber, panel, hardware and building materials items.
Lumber and Panel Industry Not Prepared for Surge in DIY and Home Remodeling Projects During COVID-19 Pandemic
According to Statistics Canada, 5.5 million Canadian workers have been impacted by shutdowns, either from loss of employment or COVID-19 related absences.
New Home Sales Climb Higher in June
The U.S. Census Bureau is reporting that sales of new single-family houses in June 2020 were at a seasonally adjusted annual rate of 776,000.