New Home Sales Exceed Projections in May

New single-family home sales in the U.S. are on the rise. According to the Census Bureau and Department of Housing and Urban Development, sales increased 16.6% in May to a seasonally adjusted annual rate of 676,000. This is better than expected as MarketWatch reported analysts predicted a rate of 650,000, and Reuters' economists forecasted sales wo...
Continue reading
  919 Hits
  0 Comments
919 Hits
0 Comments

Housing Starts See Modest Rebound in May

U.S. housing starts have started to rebound; however, they are still well below the data from a year ago. Housing starts increased 4.3% in May, according to this week's announcement from the Census Bureau and Department of Housing and Urban Development. Yet, this is 23.2% below May 2019. Housing starts were at a seasonally adjusted rate of 974,000 ...
Continue reading
  871 Hits
  0 Comments
871 Hits
0 Comments

Existing Home Sales Continue Decline in April

COVID-19 continues to impact existing home sales, resulting in the second-straight month of declines. The National Association of Realtors announced May 21 that sales dropped 17.8% in April from March, and sales are down roughly the same amount from April 2019. The steep fall is the largest month-over-month decline since July 2010. "The economic lo...
Continue reading
  959 Hits
  0 Comments
959 Hits
0 Comments

COVID-19 Affects Nonresidential Building

COVID-19 continues to impact industries left and right and is now hitting the nonresidential building sector. The Dodge Momentum Index declined 6% in April, according to a release from Dodge Data & Analytics. The index measures the initial report of nonresidential projects in planning. Despite the significant drop, the full impact of COVID-19 h...
Continue reading
  974 Hits
  0 Comments
974 Hits
0 Comments