Coronavirus-Related Initial Claims Top 33.5 Million

The Labor Department yesterday reported an additional 3.17 million initial unemployment claims filed the week ending May 2, bringing total claims filed over the past seven weeks to 33.5 million.

March Pending Home Sales Tumble by Nearly 21%

As expected, March pending home sales fell as the early effects of the coronavirus pandemic took hold, the National Association of Realtors reported yesterday.

March New Home Sales Feel Brunt of Coronavirus

The expected hit to new home sales from the coronavirus pandemic fully manifested itself in March, falling by more than 15 percent from February to its lowest level in six years, HUD and the Census Bureau reported yesterday.

March Existing Home Sales Fall—But Worst Is Yet to Come

After a promising start to the spring home-buying season, existing home sales tumbled in March to a nearly five-year low, the National Association of Realtors reported yesterday—and because of the coronavirus pandemic, the outlook for April isn’t any better.

Home Builder Confidence Suffers Historic Drop

The economic effects of the coronavirus clobbered the home building industry this month, with the National Association of Home Builders reporting its Housing Market Index plunged a record 42 points to its lowest reading in nearly eight years.

Another Week for Record Unemployment Claims

The Labor Department yesterday reported a record 6.648 million Americans filed initial unemployment insurance claims last week, smashing the previous record set the previous week.

February New Home Sales Meet Expectations, Pre-Coronavirus

February new home sales dipped a bit, HUD and the Census Bureau reported yesterday. Sales of new single-family houses came in at a seasonally adjusted annual rate of 765,000, down by 4.4 percent from the revised January rate of 800,000, but 14.3 percent higher than a year ago (669,000).