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.
News in end use
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.
Existing Home Sales Set New Record High in July
The National Association of Realtors® (NAR) is reporting that total existing-home sales on July, set a new monthly record increasing 24.7% above June, to a seasonally-adjusted annual rate of 5.86 million.
Multifamily Builders Confidence Edges Higher in Q2 but Vacancy Rate Increases
According to the National Association of Home Builders (NAHB) Multifamily Production Index (MPI) builders confidence in the market for new multifamily housing increased 10 points to a reading of 37 in the second quarter of 2020.
Townhouse Construction in Q2 Remains Weak
A closer look at the U.S. Census Bureau’s data of Starts and Completions by Purpose and Design, by the National Association of Home Builders (NAHB) reveals that townhouse construction declined during the second quarter of 2020.
FEA’s Weekly Order Survey Participants Respond Favorably to Housing Industry News
Dealers responding to the FEA Weekly Order Survey could not help but feel encouraged by the latest housing industry news. With the Census Bureau reporting that housing starts, and permits both up in July over June and year-over-year.
Canadian Home Prices Rise Modestly in July
According to the Teranet-National Bank Composite House Price Index, Canadian home prices rose in July by 0.3% from June.
Mortgage Rates Creep Higher in Week Ending August 20th, 2020
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending August 20th, 2020. The PMMS shows that 30-year fixed-rate mortgage averaged 2.99% with an average 0.8 point, up from last week when it averaged 2.96%.
Weekly Jobless Claims Climb Back Over 1 Million in the Week Ending August 15th, 2020
The U.S. Department of Labor is reporting that an additional 1,106,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, August 15th.