Payroll employment rose 0.1% (25,300) in December after declining 0.1% (14,400) in November. Year-over-year, employment was up 0.9% (158,000) in December.
News in end use
New US Residential Single-Family Home Sales Decline 10.5% in January
New residential single-family home sales for January fell to a seasonally adjusted annual rate of 657,000, a 10.5% decline.
Mortgage Applications Decline in the Week Ending February 21
Mortgage loan application volume decreased 1.2% on a seasonally adjusted basis from one week earlier, MBA reported.
US Multifamily “Missing Middle” Posts Year-Over-Year Gain in Q4
There were 5,000 2- to 4-unit housing unit construction starts in 2024Q4, up 25% from 2023Q3, NAHB reported.
Price Gap Between New and Existing US Homes Continues to Shrink in Q4
The traditional price gap between new and existing homes was nearly nonexistent at the end of 2024, the Census Bureau, NAR, and NAHB reported.
FHFA Home Price Index Increases 4.5% Year-Over-Year in Q4
The FHFA House Price Index rose 4.5% year-over-year in Q4. Compared to Q3, prices were up 1.4%.
US Consumer Confidence Index Declines for Third Consecutive Month in February
The Conference Board Consumer Confidence Index declined 7.0 points to a reading of 98.3 in February, down from 104.1 in January.
S&P CoreLogic Case-Shiller Index Reports 3.9% Annual Gain in US Home Prices in December
The S&P CoreLogic Case-Shiller US National Home Price NSA Index posted an annual gain of 3.9% in December, up from an increase of 3.7% in November.
Typical Down Payment on US Home Increases 7.5% Year-Over-Year in December
The typical homebuyer’s down payment was $63,188 in December, up 7.5% from a year earlier and the biggest increase in five months, Redfin reported.
US Single-Family Home Size Increases in Q4
The median single-family square floor area was 2,205 square feet in Q4, the highest reading since mid-2023, the Census Bureau and NAHB reported.