Browsing Posts In: Economic Updates

August 18, 2015 Posted by: Lawrence Yun, PhD., Chief Economist and Senior Vice President

Homebuilders broke ground at the fastest pace in eight years. A fresh supply of new homes will therefore reach the market in upcoming months to help relieve the inventory tightness. There is no need to worry about an oversupply. Even more production would be welcomed. Specifically, housing starts reached 1.21 million in July. Single-family units […]

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August 7, 2015 Posted by: Lawrence Yun, PhD., Chief Economist and Senior Vice President

Job gains continued in July, thereby providing a solid foundation for home buying and commercial real estate leasing activity. Not all is alright, however. Part-time employment still remains above normal and wages are barely rising. Job gains in the construction industry remain tepid despite the need to build more homes. Specifically, 215,000 net new jobs […]

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August 3, 2015 Posted by: Lawrence Yun, PhD., Chief Economist and Senior Vice President

Construction spending for apartments has been solidly increasing. But there is still a housing shortage and rents are rising at roughly twice the pace of wages. With homeownership rate at near 50-year low, there needs to be an even faster pace of new home construction of all types of homes. Specifically, in June the overall […]

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July 30, 2015 Posted by: Lawrence Yun, PhD., Chief Economist and Senior Vice President

The nation’s economy is humming along unspectacularly. GDP rose by 2.3 percent in the second quarter. Based on year-to-date activity and many other recent economic data, the year 2015 will again mark another subpar GDP growth. Slow growth is not the best of the world but is still leading to positive job creations. GDP growth […]

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July 28, 2015 Posted by: Lawrence Yun, PhD., Chief Economist and Senior Vice President

Today’s homeowners are in the best financial shape in recent memory. Home prices have been rising while overall mortgage debt levels have been falling. As a result the net housing equity has nearly doubled in the past four years. This equity gain, which can be used as a down payment, will provide a greater number […]

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July 24, 2015 Posted by: Lawrence Yun, PhD., Chief Economist and Senior Vice President

New home sales fell for the second consecutive month, but the subdued activity is more of a reflection of homebuilders not actively breaking ground for single-family home construction. Specifically, the new home sales pace on an annualized basis was 482,000 in June, a decline of 7 percent from one month ago. From one year ago, […]

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July 10, 2015 Posted by: Lawrence Yun, PhD., Chief Economist and Senior Vice President

A good-paying job today but an anxiety about a job cut tomorrow does not inspire confidence.  Good thing that the job market has consistently been improving.  No surprise then that more Americans are expressing a greater confidence about the U.S. economy.  Confidence is particularly important for a major purchase like buying a home or a […]

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July 7, 2015 Posted by: Lawrence Yun, PhD., Chief Economist and Senior Vice President

The best state for job creation was Utah as of May, marking several consecutive months of being on top.  Utah’s job creation rate was 3.8 percent over the past 12 months.  The West region is doing particularly well with Washington, Nevada, Idaho, Oregon, and California in the top-ten.  The South was also moving along nicely […]

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July 3, 2015 Posted by: NAR

This blog post was written by La Shawn Skeete. La Shawn is a Summer Research Intern, and is currently studying at The University of Maryland, College Park pursuing a degree in Economics. Seasonally adjusted mortgage loan applications decreased 4.7 % from the week ending June 19th. There were, however, 5.5% more applications made when compared […]

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July 2, 2015 Posted by: Lawrence Yun, PhD., Chief Economist and Senior Vice President

The job market continues to improve.  In June 223,000 net new jobs were added.  The total comes to 2.9 million over the past 12 months.  These gains will provide a solid support for home sales and commercial real estate leasing activity.  The unemployment rate fell to 5.3 percent, the lowest since 2008. Interestingly though the […]

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