Housing Market Roundup Nov. 5, 2021: Home Prices Ramp Up; Pressure on Margins; More Affordable Homes Available
Another end to the week; another flurry of economic and housing reports. Here’s a quick summary of what’s come across the MBA NewsLink desk:
Most Americans Cannot Afford a New Construction Home
A new analysis by Knock, New York, a digital homeownership platform, reported most American households are being priced out of the new home market even as builders shift their focus to smaller homes to accommodate the entry-level market.
Initial Claims Down Another 14,000 to New Post-Pandemic Low; S&P Sees Structural Shift in Workforce
Initial claims for unemployment insurance fell by 14,000 last week and are now less than 15,000 per week away from pre-coronavirus pandemic lows, the Labor Department reported Thursday.
Welcome News for the Retail Sector
The retail sector’s solid performance in recent quarters has been a welcome surprise, said Moody’s Analytics, New York.
MBA: 3Q Commercial/Multifamily Borrowing Jumps Nearly 120% Year over Year
Commercial and multifamily mortgage loan originations increased by 119 percent in the third quarter from a year ago and increased by 19 percent from the second quarter, the Mortgage Bankers Association’s Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations reported.
