Dealers continue to report strong sales to their contractor customers jobsites but noted that deliveries for Friday were a bit on the light side.
News in end use
Year-Over-Year Total Nonfarm Employment Increased in June
According to the Bureau of Labor Statistics (BLS) total nonfarm employment increased by 4.8 million jobs in June and the unemployment rate has dropped to 11.1%.
Weekly Jobless Claims Modestly Decline for Week Ending June 27th
The U.S. Department of Labor is reporting that an additional 1.427 million Americans made their initial filing for unemployment benefits during the week ending on Saturday June 27th.
ADP National Employment Report® – Private Sector Employment Increased Between May and June
According to the ADP National Employment Report®, private sector employment increased by 2,369,00 jobs from May to June.
Mortgage Applications Decline in Week Ending June 26th 2020
According to data from the MBA Weekly Mortgage Application Survey, for the week ending June 26th, 2020, the Market Composite Index decreased -1.8% on a seasonally adjusted basis from one week earlier.
U.S. Construction Spending Report for May 2020
The U.S. Census Bureau is reporting that total construction spending during May 2020 was estimated at a seasonal adjusted annual rate (SAAR) of $1,356.4 billion.
The Conference Board’s Consumer Confidence Index® Increases in June
After being basically unchanged in May, the Conference Board’s Consumer Confidence Index® (CCI) increased in June.
Increases in Canadian Home Prices will be Limited by High Unemployment and Lower Immigration
A recent Reuters poll indicates that Canadian home prices will increase at a much slower pace this year, than predicted just three short months ago.
A Full V-Shaped Housing Recovery Continues
According to Logan Mohtashami, a columnist with Housewire.com, last Wednesday’s Mortgage Banker Association applications data, confirmed a full V-shaped recovery in the housing market.
Home Prices Rise in April, Despite Nationwide COVID-19 Economic Shutdown
According to the S&P CoreLogic Case-Shiller National Home Price Index (HPI), prices for existing homes rose 4.7% compared with April 2019 and were up 4.6% in the previous month (March).