Inventories Persist at Record Lows
Homes for sale fell to another record low during the week ending November 28, said Redfin, Seattle. Sustained demand pushed the median home price to another record high, and one-third of homes sold in one week or less.
Initial Claims Rise Over Holiday
Initial claims for unemployment insurance climbed back up last week after falling to pre-pandemic levels the previous week, the Labor Department reported Thursday.
Office Space Demand Falls Again
VTS, New York, reported new demand for office space fell for the second consecutive month in October to a level last seen in the first quarter.
Fitch: Mortgage Insurers See Consistent Losses, Market Stability in 2022
Fitch Ratings, Chicago, said the operating environment for U.S. mortgage insurers is expected to remain steady in 2022, as economic indicators have generally improved since the low point of the pandemic, with lower than expected losses from the pandemic fallout and continued home price appreciation supportive of credit fundamentals of the rated peer group of private MIs.
RIHA Study: U.S. Household Net Worth Up 17.6% Between 2016-2019
The median net worth of U.S. households increased from $103,000 in 2016 to $127,000 in 2019 – a gain of 17.6% and the highest amount since 2007, according to The Distribution of Wealth in America Since 2016, a new report released Thursday by the Mortgage Bankers Association's Research Institute for Housing America.