November Housing Starts Rise for 3rd Straight Month
November housing starts rose for the third straight month, boosted by builder confidence and strong consumer demand, HUD and the Census Bureau reported yesterday.
Initial Claims Continue to Backslide
Initial claims for unemployment benefits jumped for the second consecutive week, raising concerns about the sustainability of the current economy and raising alarms with unemployment benefits set to expire.
Bidding Wars Strong for 7th Straight Month; Homes Selling at Fastest Pace in 8 Years
The national median home price rose 14% year over year to $335,519 in November, according to Redfin, Seattle. And in many housing market hotspots, bidding wars persist for more than half of home sales.
ACES: Critical Defect Rate Highest Since 2018
ACES Quality Management, Denver, said its quarterly Mortgage QC Trends Report for the second quarter reported the overall critical defect rate of 1.88% is the highest quarterly rate since 2018.