In June, 65% of home offers written by Redfin agents faced competition, down from a revised rate of 72.1% in May and a pandemic peak of 74.1% in April, according to a new report from Redfin, the technology-powered real estate brokerage. Still, that's higher than the 56.8% bidding-war rate Redfin saw in June 2020, when the housing market was starting to rebound from a … [More]

The NFIB Optimism Index increased 2.9 points in June to 102.5, the first time the Index exceeded 100 since November 2020. Seven of the 10 Index components improved and three declined. The NFIB Uncertainty Index increased four points to 83. “Small businesses optimism is rising as the economy opens up, yet a record number of employers continue to report that there … [More]

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.9 percent in June on a seasonally adjusted basis after rising 0.6 percent in May, the U.S. Bureau of Labor Statistics reported today. This was the largest 1-month change since June 2008 when the index rose 1.0 percent. Over the last 12 months, the all items index increased 5.4 percent before seasonal … [More]

Starter home prices are growing almost seven times faster than renter incomes, making what was likely already the biggest challenge for first-time home buyers ― saving for a down payment ― even more difficult. But there is good news for today's first-time buyers: With mortgage rates near record lows, monthly payments can remain affordable even with a smaller down payment, and … [More]

In the week ending July 3, the advance figure for seasonally adjusted initial claims was 373,000, an increase of 2,000 from the previous week's revised level. The previous week's level was revised up by 7,000 from 364,000 to 371,000. The 4-week moving average was 394,500, a decrease of 250 from the previous week's revised average. This is the lowest level for this average since … [More]

CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for May 2021. Converging pressures of severe inventory shortages and sustained demand pushed home prices to record highs in May, with the year-over-year increase in home prices at its highest level … [More]

According to NFIB’s monthly jobs report, 46% of small business owners reported job openings they could not fill in the current period, down two points from May but still above the 48-year historical average of 22%. Small business owners continue to struggle to find qualified workers for their open positions while raising compensation at a record high level. “In the … [More]

Total nonfarm payroll employment rose by 850,000 in June, and the unemployment rate was little changed at 5.9 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in leisure and hospitality, public and private education, professional and business services, retail trade, and other services. This news release presents statistics from two … [More]

In the week ending June 26, the advance figure for seasonally adjusted initial claims was 364,000, a decrease of 51,000 from the previous week's revised level. This is the lowest level for initial claims since March 14, 2020 when it was 256,000. The previous week's level was revised up by 4,000 from 411,000 to 415,000. The 4-week moving average was 392,750, a decrease of 6,000 … [More]