#census-bureau

#census-bureau

If there's one sector of the economy that benefits from the very low levels of total housing inventory, it's the homebuilders, but for a reason you might not think.If national housing inventory were back to normal, we would have 2 to 2.5 million active listings, and these active listings would be direct competition for the builders.

To combat higher mortgage rates, builders have been cutting prices and buying down rates to move product.They still have a lot of work to do here, so we shouldn't expect anything good to come from the housing permits side of the economy in 2023.New home sales
From : Sales of new single-family houses in January 2023 were at a seasonally adjusted annual rate of 670,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

New home sales rose in January from December, as mortgage rates eased off their highs of the past year at the start of 2023.Sales of newly constructed homes were up 7.2% in January from December, but fell 19.4% from a year ago, according to a joint report from the US Department of Housing and Urban Development and the US Census Bureau.

New home sales increased in December - a sign that new residential sales have continued to rebound in recent months.Last month, new home sales increased by 2.3% to a seasonally adjusted annual rate of 616,000, according to data published by the U.S. Census Bureau and the Department of Housing and Urban Development (HUD).

Contractors build the framing of a roof on a house under construction at the Norton Commons subdivision in Louisville, Kentucky, U.S., on Tuesday, Feb. 8, 2022.The U.S. Census Bureau is scheduled to release housing starts figures on Feb. 17. (Bloomberg)The housing market has fallen off a cliff, but for now, homebuilders are biding their time.

Skift Take
Working from home offers many benefits, but building trust and forging connections is harder.Designing purposeful, engaging events can help.The Covid pandemic has led to an unprecedented surge in remote work.According to the U.S. Census Bureau, 17.9 percent of the U.S. workforce worked primarily from home in 2021, the highest number since tracking started in 2005.

(Getty) The exodus out of California to other states has tapped the brakes.The number of outbound moving vans fell nearly 4 percent last year from 2021, but was still 55.7 percent of all trips, according to a study by the Orange County Register.The Register crunched annual migration reports from the Allied, Atlas and United van lines, and compared them to interstate relocation data by the Census Bureau.

The Looking Glass ponders economic and real estate trends through two distinct lenses: the optimist's glass half-full and the pessimist's glass half-empty.Buzz: Relocation trends by van line suggest California's outmigration challenges more residents departing than arriving are shrinking but still appear immense.

Real Estate Non-New Englanders are flocking to the Granite State to buy a slice of heaven within an hour of Boston, the beach, and the mountains.A new real estate report ranks two New Hampshire cities among the nation's most coveted places to buy a house.On Wednesday, the Wall Street Journal and Realtor.com

First-time home buyers around the country are struggling to amass a down payment in this high-inflation economy.But there may be hope.For those who work remotely or are open to relocating, a recent study by Rocket Homes can help find a new locale.The study compared 383 major metropolitan areas to find the best ones for home buyers with household incomes of $65,000 just below the median national household income of $70,784, the most recently reported figure from the U.S. Census Bureau.

First-time home buyers around the country are struggling to amass a down payment in this high-inflation economy.But there may be hope.For those who work remotely or are open to relocating, a recent study by Rocket Homes can help find a new locale.The study compared 383 major metropolitan areas to find the best ones for home buyers with household incomes of $65,000 just below the median national household income of $70,784, the most recently reported figure from the U.S. Census Bureau.

When the 30-year fixed rate dropped for the third straight week in late March, homebuyers responded, giving a boost to mortgage applications.And, following investors' rush into bonds after the recent bank failures earlier this month, yields moved even lower last week - and mortgage rates followed.Mortgage applications increased 2.9% week over week on a seasonally adjusted basis for the week ending March 24, according to the Mortgage Bankers Association (MBA).

New home sales continued to rise in February, jumping 1.1% from January to a seasonally adjusted annual pace of 640,000 homes, according to data published on Thursday by the U.S. Census Bureau and the Department of Housing and Urban Development ( HUD).On a year-over-year basis, however, new home sales are still down 19.0%.

US home building jumped higher in February, turning around after five consecutive months of falling even as mortgage rates were climbing last month.Housing starts, a measure of new home construction, rose by 9.8% in February from January.But that's still down 18.4% from a year ago, according to data released Thursday by the Census Bureau.

New home sales started off 2023 on a positive note, rising 7.2% from December to a seasonally adjusted annual pace of 670,000 homes, according to data published by the U.S. Census Bureau and the Department of Housing and Urban Development ( HUD) on Friday.This marks the second consecutive month of increases and the strongest sales pace since March 2022.

What is happening with homebuilders and the new home sales sector as we head into the spring housing market?We have had some conflicting data points recently.On the one hand, cancelation rates have been rising.On the other hand, mortgage rates have gone down more than 1% since Oct. 20, 2022.The builders' stock prices have done well as mortgage rates have fallen, and this illustrates the simplicity of the homebuilders' position: their story is really about mortgage rates and moving products.

It turns out high-income people are also fleeing the state - a new twist in the California exit.That should worry ruling liberal Democrats who love to tax wealthy people and spend their money, especially on social programs.Some golden geese are taking flight.For years, once-burgeoning California has been hemorrhaging population.

The man charged in the shooting of an unarmed Black man last month has resigned from the Shreveport, Louisiana, police department.Former Officer Alexander Tyler, 23, resigned from the force late last week, according to Shreveport Mayor Tom Arceneaux.Tyler had been on administrative leave since being charged with negligent homicide after the February 3 shooting death of Alonzo Bagley.

Congratulations: Valentine's Day is over, you're still single, and you're fine with it.Well, maybe except for the rent.Single renters pay a premium over couples and roommates who split expenses (even when the roommates have separate bedrooms).Moreover, a recent report from Moody's Analytics showed that the typical American renter is rent burdened (paying 30 percent or more of income for rent), making things particularly rough right now for singles.

My grandson has been married three times and has two children: a baby boy with his third wife and an 8-year-old daughter from his first marriage.He refuses to have any contact with his daughter or pay any child support to his first wife.I am hurt and angry by his abandonment of his child!I have not seen his new baby yet, nor do I want to.

Were you born in Michigan?Then your spouse probably was too!Michiganders appear loath to marry folks born outside their pleasant peninsulas: Their rate of interstate marriage is the lowest in the nation, our analysis of Census Bureau data shows.It's a regional trend.Data from 2017 to 2021 shows the most insular states, maritally speaking, lap up against the Great Lakes.

Parents are having a difficult time finding and affording childcare.They're turning to a variety of options to get by, including nanny sharing and co-parenting.But most of these options come with their drawbacks.When 27-year-old Brittany Wilson-DeMarco began looking for daycare for her two-year-old son last year, the most affordable option she could find cost $1,200 per month.

Getty Images If you follow the rule of thumb that households should spend no more than 30% of gross income on rent, then most U.S. cities are unaffordable.A monthly NerdWallet rent-to-income ratio analysis of 225 cities in the U.S. finds that, based on the most recent data, 65% of rents on the market are equal to or above the recommended 30% ratio in February.

The typical American renter is now rent-burdened meaning that 30 percent of the median U.S. income is required to pay the average rent, according to a new report from Moody's Analytics.This 30 percent is a symbolic threshold, a milestone, said Thomas LaSalvia, the director of economic research at Moody's.

Housing starts, which include construction of both new single-family and multifamily residences, rose 9.8% month over month to a seasonally adjusted annual rate of 1,450,000 units, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development said in a press release.Year over year, starts were down 18.4%.

After pulling back at the start of the year, homebuilders jumped back in during February as homebuyer demand and builder confidence trended upward.Homes were started at an estimated annual pace of 1.45 million in February, up 9.8% month over month, according to a report released Thursday by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development (HUD).

With economic uncertainty and supply chain issues plaguing the industry, homebuilders pulled back last month.Homes were started at an estimated annual pace of 1.309 million in January, down 4.5% month over month, according to a report released Thursday by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development (HUD).

Never-married women are the fastest growing cohort in the labor market.Yet, as their ranks have swelled their wage gap has, too.The group's median weekly earnings are 92.1% of what men who have never married make, a new report from Wells Fargo released Wednesday found.That gap has increased from a decade ago, when they brought in 95.8% of what men did.

California's housing supply issues will never be cured because developers will slam the brakes on homebuilding when the market gets dicey.As autumn began, pricey mortgages scared off house hunters and upset builders.Home prices dipped.Falling rents unnerved landlords.And my trusty spreadsheet's review of monthly building permit data from the Census Bureau found construction plans for ownership and rental units dramatically slowed.

Renting Nationally, the Hub landed at 10th on RentCafe's list of millionaire hotspots.The number of Boston renters earning more than $150,000 a year doubled between 2015 and 2020, according to a report listing database RentCafe released Friday, but another Massachusetts city saw a whopping 125% increase.

A new report from Zillow has stark findings for housing affordability in the United States.The report examined the affordability of two-bedroom apartments for minimum wage earners and found that two workers with full-time, minimum wage jobs can only afford a two-bedroom apartment in 10 out of the 50 biggest cities in the U.S.
"Using minimum wage data from the Economic Policy Institute, Zillow analyzed how many full-time minimum wage jobs would be required to afford the typical rent in the 50 largest U.S. cities and in the U.S. overall," the site explains.

Our snazzy new tool allows you to build a custom area and look at it through a variety of lenses, seeing how it compares to the city at large.Simply select some census tracts on the map below to get started.You can use the dropdown menu to select a dataset, and hit the download button to peruse the raw data yourself.

Like a priest at the pulpit, Boston condo sellers are saying with clarity and conviction they're not going to drop asking prices by 20, 15 or even 10% now or in the near future.How long can this last, who knows.But one thing is certain, the religious fervor displayed by todays Boston condo sellers won't be ending anytime soon.

Author(s)
Simson Garfinkel (NIST), Phyllis Singer (U.S. Census Bureau), Joseph Near (University of Vermont), Aref Dajani (U.S. Census Bureau), Barbara Guttman (NIST)
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