Articles Tagged with ''market reports''

Elevated mortgage rates that averaged 7.62% in October per Freddie Mac, the highest rate since 2000, depressed buyer demand and pushed down new home sales in October.

Despite mortgage rates that are at a 23-year high, new home sales posted a double-digit percentage gain in September because of a lack of inventory in the resale market.

Despite elevated mortgage rates averaging above 7%, single-family starts posted a solid gain in September as more buyers are turning to new homes because of a dearth of inventory in the resale market.

The National Association of Home Builders (NAHB) released its NAHB/Westlake Royal Remodeling Market Index (RMI) for the third quarter, posting a reading of 65, declining three points compared to the previous quarter.

U.S. job openings have fallen to 8.8 million last month, the lowest in more than two years, according to the U.S. Bureau of Labor Statistics.

Confidence in the market for new multifamily housing was in positive territory for the second quarter, according to results from the Multifamily Market Survey (MMS) released by the National Association of Home Builders (NAHB).

A lack of existing inventory and solid demand helped offset rising mortgage rates and push single-family production higher in July, even as builders continue to grapple with elevated construction and financing costs as well as a lack of skilled labor.

Union apprenticeship programs in Michigan’s construction industry deliver more training hours, better diversity outcomes, and no student debt while delivering earnings for graduates that achieve near parity with comparable workers with four-year college degrees.

More than 60% of homeowners say they plan to stay in their homes for 11 years or more following a 2022 renovation. Additionally, the share of homeowners undertaking renovations with a plan to sell their home soon has declined by half since 2018.

The National Association of Home Builders (NAHB) redesigned its Multifamily Market Survey (MMS) in the first quarter of 2023 to make it easier to interpret and more similar to the NAHB/Wells Fargo Housing Market Index for single-family housing.