January new home sales offered good news for an industry starved of good news as of late.
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Housing Market Roundup: Feb. 21, 2023
Here’s a summary of recent housing industry articles that have come across the MBA NewsLink desk:
Housing Starts Down 5th Straight Month
Housing starts fell in January, HUD and the Census Bureau reported Thursday, marking the fifth straight monthly drop, the longest streak of declines since 2009.
January Jobs Report Smashes Expectations
The labor market defied expectations of even the most skeptical forecasts in January, adding a remarkable 517,000 jobs, the Bureau of Labor Statistics reported Friday.
Fed Raises Funds Rate 25 Basis Points
The Federal Open Market Committee telegraphed its intentions weeks ago; on Wednesday, to no one’s surprise, it raised the federal funds rate by 25 basis points.
Home Price Report Roundup: More Rebalancing
Three reports show a continuing trend of slowly receding home prices, with some markets coming back to earth faster than others. Here’s a summary of those reports:
Pending Home Sales End Six-Month Slide
The National Association of Realtors and Redfin, Seattle, noted improvement in December pending home sales, marking the first improvement since last spring.
Housing Starts Finish 2022 at 6-Month Low
Housing starts ended 2022 down for the second straight month to their lowest level since last July, HUD and the Census Bureau reported Thursday.
2022 Jobs Finish on Strong Note
Although nonfarm payroll employment slowed toward the end of the year, it finished on a strong, steady pace, the Bureau of Labor Statistics reported Friday.
JOLTS Report: U.S. Job Market Remains Tight
In the first of four major jobs reports this week, the Bureau of Labor Statistics reported November job openings fell at a slower-than-expected pace, reflective of a continued tight labor market.