February new home sales fell by 2 percent from January as home builders continued to face supply chain bottlenecks, HUD and the Census Bureau reported Wednesday.
Tag: Wells Fargo Economics
Housing Starts Give Spring Home Buying Season Early Momentum
These days, is there really a spring home buying season? Especially when every month feels like buyers are knocking down every available door? Even, so, the New Residential Construction report from HUD and the Census Bureau portends what could be an even busier period for the housing market.
Inflation Jumps to Fastest Rate Since 1982
The Consumer Price Index jumped by 0.8 percent in February from January and roared ahead by 7.9 percent to its fastest annual pace in 40 years, the Bureau of Labor Statistics reported Thursday.
JOLTS Report Shows Workers Retain Upper Hand
It’s not exactly a workers’ paradise, but with businesses struggling to hire employees and the “Great Resignation” in full swing, workers still have the upper hand, albeit a little less so than previously, according to the Bureau of Labor Statistics.
Strong February Jobs Report Gives Fed Momentum for March Rate Hike
For the second straight month, employment numbers beat expectations, with the Bureau of Labor Statistics reporting Friday that employment rose by 678,000 in February.
Construction Posts 6th Straight Monthly Gain
Monthly construction spending started the year strongly, increasing for the sixth consecutive month, the Census Bureau reported Tuesday.
January New Home Sales Down 4.5%
January new home sales fell by 4.5% amid supply chain and inventory shortages, HUD and the Census Bureau reported Thursday.
Consumer Confidence Falls 2nd Straight Month
The Conference Board, New York, said its Consumer Confidence Index fell for the second straight month in February to its lowest level since October, as expectations continued to weaken.
Home Prices Finish Year at Highest Rate of Increase in 34 Years
The S&P CoreLogic Case-Shiller Home Price Indexes finished 2021 with the single-highest rate of increase in 34 years of data-keeping. In a separate report, the Federal Housing Finance Agency said 2021 home prices rose by 17.5 percent.
Existing Home Sales Fire Up as Rates Rise
Ahead of rapidly rising interest rates and a dearth of new housing, the National Association of Realtors on Friday said January existing home sales jumped by nearly 7 percent from December.