Homeownership Rates

August 4, 2022 Home ownership rose 0.4% in the second quarter to 65.8 after having declined 0.1% in the first quarter.  Homeownership had been rising gradually for several years before the pandemic hit.  It jumped 2.6% in the second quarter of 2020 to 67.9, but has...

Construction Spending

August 1, 2022 . Construction spending (the green bars above) declined 1.1% in June after having risen 0.1% in May.   In the past 12 months it has risen 8.3%. Private construction spending (excluding the government sector) rfell 1.3% in June after having risen 0.2% in...

Pending Home Sales

July 27 2022 Pending home sales fell 8,6% in June to 91.0 after having risen 0.4% in May.  Pending home sales are being impacted by the combination of both higher prices and rapidly rising mortgage rates.  However, keep in mind that sales are also being constrained...

New Home Sales

July 26, 2022 New home sales  fell 8.1% in June to 590 thousand after having risen 6.3% in May.  The combined impact of a sharp rise in mortgage rates and rapid price appreciation has triggered a sharp drop in the pace of new home sales.   It appears that the jump in...

Case Shiller Index of Home Prices

July 26, 2022 The Case Shiller Index of Home Prices in 20 cities rose 1.3% in May after climbing 1.7% in April and 2.4% in March.  Over the past year home prices have risen 20.5%. A broader index  for the entire U.S. — which would include a large number of...

Existing Home Sales

June 21, 2022 Existing home sales fell 5.4% in June to 5,120 thousand after having declined 3.4% in May.  In fact, this is the fifth consecutive decline in sales since reaching a peak in January.  Clearly home sales are being impacted by the combination of still...