Existing Home Sales

May 21, 2020 Existing home sales fell 17.8% in April to 4,330 thousand after having declined 8.5% in March  It is likely that home sales will continue to decline in May. Lawrence Yun, NAR chief economist said that “The economic lock-downs – occurring from mid-March...

Housing Starts

May 19, 2020 Housing starts .plunged 30.2% in April to 891 thousand after having fallen 18.6% in March,   Because these data are particularly volatile on a month-to-month basis, it is best to look at a 3-month moving average of starts (which is the series shown...

Homebuilder Confidence

May 18, 2020 Homebuilder confidence rebounded by 7 points in May to 37 after having plunged by 42 points in April which was the biggest single-month decline in the history of this series.. NAHB Chairman Dean Mon said that, “The fact that most states classified housing...

Construction Spending

May 1, 2020 . Construction spending (the green bars above) rose 0.9% in March after having declined 2.5% in February.  But none of this matters much.  Construction is going to collapse in the months ahead as economic activity has come to a standstill following the...

Homeownership Rates

April 30, 2020 Home ownership rose 0.2% in the first quarter of this year to 65.3%/  It hit a low of 62.9% in the second quarter of 2016 but has risen considerably in the past 3 years. The upswing in home ownership in the past two years  has been most pronounced...

Pending Home Sales

April 29, 2020 .Pending home sales plunged 20.8% in March as dramatic measures to halt the spread of the corona virus began to shut down the U.S. economy.  Without a doubt these sales will decline further in April as containment measures intensified. Lawrence Yun, the...