New residential single-family home sales for May were at a SAAR of 619,000, according to estimates. This is 11.3% below the revised April rate of 698,000.
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State-Level Analysis of Construction Sector Employment for May
Overall, the construction industry added a net 21,000 jobs in May, and 26 states reported month-over-month employment gains, the BLS and NAHB reported.
Mortgage Applications Increase in the Week Ending June 21st
Mortgage loan application volume increased 0.8% on a seasonally adjusted basis from one week earlier, MBA reported.
FHFA Home Price Index Increases in April
According to the FHFA HPI, US house prices increased 0.2% month-over-month in April, seasonally adjusted. Year-over-year, house prices climbed 6.3%.
S&P CoreLogic Case-Shiller US Home Price Index Reports 6.3% Annual Gain in April
The S&P CoreLogic Case-Shiller US National Home Price NSA Index reported an annual gain of 6.3% in April, following a 6.5% gain in March.
US Consumer Confidence Index Declines in June
The Conference Board Consumer Confidence Index® (CCI) declined to a reading of 100.4 (1985=100) in June, down from 101.3 in May.
Share of Mortgage Loans in Forbearance Inches Lower in May
The total number of loans in forbearance as of May 31st was 0.21% of servicers’ portfolio volume, according to the Mortgage Bankers Association.
Canadian Consumer Price Index Inches Higher in May
The Canadian Consumer Price Index (CPI) increased 2.9% year-over-year in May, up from a 2.7% gain in April.
Freddie Mac’s US Economic, Housing, and Mortgage Market Outlook for June
Freddie Mac expects the US economy to continue to cool as consumers adjust their spending in response to higher interest rates.
Fannie Mae Economic and Strategic Research Group Lowers Expectations for 2024 Home Sales and GDP
Affordability constraints continue to limit the number of buyers willing and able to make home purchases, even as listing of for-sale homes are on the rise, the ESR Group said.