Construction Worker Wages Are Growing Incredibly Fast
Residential construction worker wages are growing at a 5 percent annual pace, almost double the 2.9 percent pace of wage growth for all workers -- as clear a signal as any of the depth of labor shortages home builders face as they struggle to ramp up building as their costs keep rising.
Americans Likely to Reinvest Billions in Tax Savings Back into Housing
Zillow estimates homeowners and renters could put $13.2 billion in tax savings directly into the American housing market in 2018, using some of their tax cut to rent or buy a bigger home.
April Home Sales Forecast: Retreat From Recent Highs
New home sales have surged since the start of the year, rising in March to their second-highest level since the housing bust. We expect this three-month trend ended in April.
Oil Prices, Fed Comments Push Mortgage Rates to Five-Year High
A combination of strong data, geopolitical risk and comments from several Federal Reserve officials contributed to the jump.
Boosts in Wages, Inflation and Oil Prices Keep Mortgage Rates Aloft
Last Friday’s monthly jobs report was not stellar, but probably sufficient to keep an expected interest rate hike in June on track.
Mortgage Rates Touch Highest Levels in Four Years
Mortgage rates retreated late last week from the four-year highs they had touched during the previous week.
Hispanics, Young Adults Pushing Up U.S. Homeownership Rate
The seasonally adjusted U.S. homeownership rate is currently enjoying its longest uninterrupted run of quarterly gains since the turn of the 21st century, driven higher by advances among Hispanics and younger adults.
Mortgage Rates Touch Highest Levels in Four Years
After flatlining for much of the past two months, mortgage rates again moved definitively upward over the past week, touching their highest levels since January 2014.
March New Home Sales: Inventory Maintains Earlier Gain
The median seasonally adjusted price of new homes sold in March increased by 2.1 percent from February to $336,100, a new all-time high beating the previous record of $334,900 reported in November 2017.
Rapid Reaction: March New Home Sales
March new home sales rose 4 percent from February and 8.8 percent from a year ago, to 694,000 units (SAAR), according to the U.S. Census Bureau. Data from the prior three months was also revised up by a combined 152,000 units.
