U.S. Employment Situation – August 2023
Total nonfarm payroll employment increased by 187k, in August 2023, with the unemployment rate rising to 3.8%.
housing
New Single-Family Home Size Reach Decade Low
rewrite the content without plagiarism for 1500 words Recent analysis from the NAHB’s Eye on Housing shows that for new single family homes, the median single-family square floor area declined to 2,191 square feet, the lowest reading since the end of 2010. In addition, the average (mean) square footage for new single-family homes fell to
Zumper’s National Rent Report for August ’23
rewrite the content without plagiarism for 1500 words Rental information site Zumper recently released their latest monthly National Rent Report for August, 2023. According to their data, rent for 1-bedroom apartments was $1,510 (up 1.6% year over year) and the median two-bedroom rent was $1,864 (up 3.9% year over year) . Be sure to check
S&P CoreLogic Case-Shiller Index Flat in June
rewrite the content without plagiarism for 1500 words The latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 0% annual change for June, 2023. Their 10-City Composite decreased 0.5% and their 20-City Composite decreased 1.2%, year-over-year. However, all 20 major metro markets reported month-over-month price increases for the fourth straight month “As
Seriously Delinquencies Hit Lowest Level Since 2006
According to Black Knight’s latest Mortgage Monitor, the total U.S. loan delinquency rate (loans 30 days+ past due but not in foreclosure) was 3.12% in June, up 0.55% from May and down 2.80% year over year. In addition, the number of serious delinquencies (loans 90+ days past due) dropped to 471K – the lowest since
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Real GDP by U.S. State
The U.S. Bureau of Economic Analysis is reporting that America’s real gross domestic product (GDP) increased in 46 states (and D.C) in Q4 of 2022. The percent change in real GDP ranged from 7% in Texas to –4.3 percent in South Dakota. Click here to read the full report at the Bureau of Economic Analysis.
Countries that Hold the Most U.S. Debt
This is certainly something to make you go hmmmm. Today’s infographic from the Virtual Capitalist illustrates how America owes foreign investors of its national debt $7.3 trillion – all in the form of Treasury securities. Interestingly, they point out that central banks often use them for foreign exchange reserves and private investors flock to them
Nationwide Property Tax Revenues See Largest Increase Since 2009
According to recent analysis from the NAHB’s Eye on Housing, state and local tax data from the U.S. Census show that $286 billion in taxes were paid by property owners in Q4 of 2022. In fact, state and local governments collected $714 billion in property taxes in 2022, $46 billion more than 2021. The Eye
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Black Knight Says Inventory Levels Continue to Deteriorate
According to Black Knight’s latest Mortgage Monitor, home prices saw their first monthly increase after 7 straight monthly declines as sales picked up on lower interest rates. However, they point out that available inventory levels continue to deteriorate. Indeed… “The unfortunate reality is that the scarce supply of inventory that’s the source of so much
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US Mortgage Delinquencies Fall for 22nd Straight Month
According to the latest CoreLogic Loan Performance Insights Report, in January 2023, 2.8% of mortgages were delinquent by at least 30 days or more including those in foreclosure. This figure represents a 0.5-percentage point decrease in the overall delinquency rate compared with January 2022. CoreLogic says measuring early-stage delinquency rates is important for analyzing the
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