The median price increased 5% year-over-year to $380,250, just $3,095 shy of the all-time high in June 2022.
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State-Level Analysis of Construction Sector Employment for March
36 states and DC saw month-over-month gains in March, the BLS and NAHB reported. Overall, the industry added a net 39,000 jobs.
30-Year Fixed-Rate Mortgages Surpass 7%
The 30-year fixed-rate mortgage averaged 7.10%, up from last week when it averaged 6.88%, Freddie Mac reported.
US Existing-Home Sales Decline Month-Over-Month and Year-Over-Year in March
US existing-home sales fell 4.3% month-over-month in March to a seasonally adjusted annual rate of 4.19 million, NAR reported.
The Conference Board US Leading Economic Index® Declines Unexpectedly in March
The Conference Board Leading Economic Index® (LEI) decreased 0.3% in March, following a 0.2% increase in February.
Delinquency Rates on Mortgages Backed by Office Properties Continue to Rise in Q1
Delinquency rates overall for mortgages backed by commercial properties were unchanged in Q1, the MBA reported.
US Weekly Jobless Claims Unchanged in the Week Ending April 13th
The advance figure for seasonally adjusted initial unemployment claims was 212,000, unchanged from the previous week’s revised level.
US Median Monthly Housing Payment Reaches All-Time High
The median monthly housing payment hit an all-time high of $2,747 during the four-week period ending April 7th, Redfin reported.
Fannie Mae Home Price Index Moves Higher Quarter-Over-Quarter and Year-Over-Year in Q1
The Fannie Mae Home Price Index increased 7.4% year-over-year in Q1, up from 6.6% in 2023Q4.
Mortgage Applications Increase in the Week Ending April 12th
Mortgage loan application volume increased 3.3% on a seasonally adjusted basis from one week earlier, the MBA reported.