The affordability outlook is mixed, but there are markets that remain affordable for the potential first-time home buyer, like Buffalo, Pittsburgh and Detroit, despite the turbulence of today’s housing market.
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April Housing Starts Up 2.2%
Housing starts posted a modest increase in April, the Census Bureau and HUD reported Wednesday.
April Employment Beats Expectations
The U.S. economy added 253,000 jobs in April, and the unemployment rate fell again to match a 53-year low, beating analyst expectations, the Bureau of Labor Statistics reported Friday.
Housing Market Roundup Apr. 24, 2023
Here is a summary of housing market reports that have come across the MBA NewsLink desk:
March Housing Starts Down 1%; Single-Family Starts, Permits, Completions Up
Housing starts fell by 0.8 percent in March, the Census Bureau and HUD reported Tuesday, although single-family starts, permits and completions all rose amid growing home builder sentiment.
Employment Show Signs of Slowing
Total nonfarm payroll employment rose by 236,000 in March, the Bureau of Labor Statistics reported Friday—the smallest increase in more than two years, but enough to push the unemployment rate down to 3.5 percent.
Industry Briefs Apr. 7, 2023: HUD Extends AFFH Proposed Rules Comment Period by 2 Weeks
HUD extended the public comment date for its Affirmatively Furthering Fair Housing proposed rule by 14 days, to April 24, per a notice in the Federal Register.
Pending Home Sales up 3rd Straight Month
Pending home sales rose in February, marking the third consecutive monthly increase, the National Association of Realtors reported Wednesday.
February New Home Sales Rise, But Revisions Put Damper on Report
New home sales improved in February, HUD and the Census Bureau reported Thursday, the third straight monthly increase, but only because of downward revisions to previous months.
Fed Adds 25 Basis Points to Federal Funds Rate
The Federal Open Market on Wednesday raised the federal funds rate by another 25 basis points, a move widely anticipated by analysts and financial markets.