As of December 2023, the US housing market gained $2.4 trillion in value over the last year, bringing its total value to $47.5 trillion, Redfin reported.
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US Real GDP Increases at an Annual Rate of 3.2% in 2023Q4, BEA Reports in Its “Second” Estimate
US real GDP increased at an annual rate of 3.2% in Q4, following an increase of 4.9% in Q3.
FHFA House Price Index Increases Month-Over-Month and Year-Over-Year in December
The Federal Housing Finance Agency House Price Index® increased 0.1% month-over-month in December (seasonally adjusted).
S&P CoreLogic Case-Shiller US National Home Price Index Rises 5.5% Year-Over-Year in December
The S&P CoreLogic Case-Shiller US National Home Price NSA Index reported an annual gain of 5.5% in December, up from 5.1% in November.
The Conference Board’s US Consumer Confidence Index Moves Lower in February
The Conference Board Consumer Confidence Index® declined to a reading of 106.7 in February, down from January’s revised reading of 110.9.
New US Residential Single-Family Home Sales Up Month-Over-Month and Year-Over-Year in January
New residential single-family home sales in January were at a SAAR of 661,000, 1.5% above the revised December 2023 rate.
Labor Shortages in New US Home Building Lessen but Remain Above Housing Boom of 2004–06
With home building volumes lower, labor shortages have eased significantly since the record level set in 2021, according to the latest NAHB/Wells Fargo Housing Market Index.
Fannie Mae’s Economic and Strategic Research Group Releases Its February Commentary
The ESR Group expects existing-home sales and new single-family housing starts to modestly grow in 2024 amid lower mortgage rates and slowly strengthening homebuyer sentiment.
Increase in New Listings of Existing-Homes For Sale Offset by Higher Mortgage Rates
For the four-week period ending on February 18th, new home listings rose 10% year-over-year—the biggest increase in two months, Redfin reported.
Confidence in the Market for New Multifamily Housing Falls Into Negative Territory in 2023Q4
The National Association of Home Builders Multifamily Market Survey’s Multifamily Production Index was at reading of 41 in 2023Q4—below the break-even point of 50.