Existing Home Sales

September 21, 2023 . Existing home sales declined 0.7% in July to 4,040 thousand after falling 2.2% in July.  Home sales are being curtailed by limited supply and an unwillingness of current homeowners to put their homes on the market because they would be forced to...

Initial Unemployment Claims

September 14, 2023 Initial unemployment claims fell 20 thousand in the week ending  September 16 to 201 thousand after rising 4 thousand in the previous week.  Thus far, in the face of rising interest rates and the fear of a recession, employers are reluctant to lay...

Housing Starts

September 19, 2023 Housing starts plunged by 11.3% in August to 1,283 thousand after having risen 2.0% in July.  But given the sharp rise in building permits (see below) it is clear that starts will not remain at this depressed level for long.  Starts tend to be one...

Homebuilder Confidence

September 18, 2023 Homebuilder confidence fell 5 points in September to 45 after having declined 6 points in August.  This series hit bottom in December 2022 at 31. Rising mortgage rates which have climbed to the 7.2% mark has spooked builders. NAHB Chairman Alicia...