One step back; one step forward. Housing starts have alternated between up and down during 2021, and in keeping with the pattern, improved in May after declining in April, HUD and the Census Bureau reported Wednesday.
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May Employment Up 559,000; Unemployment Rate Drops to 5.8%
Total nonfarm payroll employment rose by 559,000 in May, the Bureau of Labor Statistics reported Friday—up substantially from May’s tepid numbers but still below consensus expectations, as hiring slowly recovers from the coronavirus pandemic.
Supply Issues Hold Back April Housing Starts
Supply constraints continue to prevent a sizzling housing market from turning white-hot, with April housing starts falling by nearly 10 percent, HUD and the Census Bureau reported Tuesday.
April Jobs Numbers Come in Well Below Consensus
In the days ahead of last Friday’s employment report from the Bureau of Labor Statistics, prognosticators went big, with consensus anticipating nearly one million new April jobs and even one economist confidently predicting 2.1 million new jobs. Alas, nearly everyone was wrong.
Industry Briefs May 7, 2021
Freddie Mac, McLean, Va., and Fannie Mae announced new refinancing options aimed at helping lower-income homeowners.
Industry Briefs May 3, 2021
The Consumer Financial Protection Bureau took action against Nationwide Equities Corp. for sending deceptive loan advertisements to hundreds of thousands of older borrowers.
March Housing Starts Post at Highest Rate in 15 Years
Housing starts recovered from a sluggish February to its highest rate since 2006 in March, HUD and the Census Bureau reported Friday.
March Jobs Report: Full Steam Ahead
Another sign that the U.S. economy is heating up: the Bureau of Labor Statistics on Friday reported total nonfarm payroll employment rose by 916,000 in March, while the unemployment rate fell to 6 percent.
Despite Price Spikes, Homeownership Remains Affordable
Two reports—from ATTOM Data Solutions, Irvine, Calif., and First American Financial Corp., Santa Ana, Calif.—say despite sharp spikes in home prices, homeownership remains affordable for most workers, which continues to drive housing demand.
Winter Catches Up with February Housing Starts
Housing starts fell in February for the second straight month, HUD and the Census Bureau reported yesterday, with winter weather largely the culprit.