According to the latest NAHB/Wells Fargo Housing Market Index (HMI) for May, builders confidence in the market for newly built single-family homes increased to 7 points to a reading of 37.
News in end use
Retail Sales Decline 16.4% in April
With many consumers sheltering in place last month and only leaving their homes only to purchase essential goods and services, retail sales declined 16.4% in April.
U.S. Homeownership Rate Hits Highest Level Since 2012
Americans view homeownership as something of great value. And the COVID-19 pandemic, and the need for many Americans to shelter in place, has helped that feeling to grow even stronger.
Canadian Home Sales and Listings Record Decline in April
Canadian home sales and national home listings fell 56.8% in April, when compared to the previous month.
A Closer Look at Building Permits in March 2020
A deeper dive into housing permits for March 2020, and the first quarter of 2020, reveals a robust start of the year for permits.
Layoffs in the Construction Sector Soar in March
According to the BLS, there were 618,000 layoffs in the construction sector during March 2020.
Mortgage Delinquencies Grow in First Quarter of 2020
The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 4.36% of all loans outstanding at the end of the first quarter of 2020.
Consumer Confidence Comfort Index Declines for Eighth Week in a Row
U.S. household sentiment declined, although at a slower pace, for the eighth straight week in a row.
FEA’s Weekly Order Survey – May Sales Not as Strong as in April
Dealers are reporting that, to date, their May sales are OK. However, they are definitely not as strong as they were in April.
Mortgage Rates Continue to Hold Steady
The PMMS shows that 30-year fixed-mortgage rate averaged 3.28% with an average 0.7 point, up slightly from last week when it averaged 3.26%.