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Home prices accelerating in areas without mass transit

Housing Wire

to a record $418,100 since January 2020, while it has risen 15.6% “Since the start of the pandemic, there has been a huge influx of people moving out here from the Bay Area, and the reason is simple — the houses are bigger and the prices are lower,” Mojourau said. to a record $540,500 in transit-accessible neighborhoods.

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Job gains exceed expectations in December

Housing Wire

While this is below the job growth in 2021 and 2022, when the economy was rebounding from the sharp job losses in 2020, it is still a much higher pace of job growth than we had before the pandemic,” Bright MLS Chief Economist Lisa Sturtevant said in a statement. With December’s numbers in, a total of 2.7 million jobs were added to the U.S.

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Labor market report is good news for mortgage rates

Housing Wire

Let’s look at my labor economic model that started on April 7, 2020, and see where are we today. The current state of the labor market results from a series of events, with COVID-19 being a significant catalyst. I wrote the COVID-19 recovery model on April 7, 2020, and retired it on Dec. Today, we are at 158,286,000.

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Mortgage rates fall as labor market normalizes

Housing Wire

The four-week moving average declined slightly by 750, to 212,250 Below is an explanation of how we got here with the labor market, which all started during COVID-19. I wrote the COVID-19 recovery model on April 7, 2020, and retired it on Dec. We are more in line with where the labor market should be when averaging 140K-165K monthly.

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Boston suburb’s housing battle with state echoes national issues

Housing Wire

As localities across the country wrestle with housing shortages, one Massachusetts town will make its case to a panel of judges next week to argue against a plan that requires the construction of more multifamily units, according to reporting by USA Today and state records reviewed by HousingWire. According to 2020 data from the U.S.

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Why mortgage rates fell with a stronger jobs report

Housing Wire

What a week this has been for the housing market , from the fireworks of Fed Chair Jay Powell’s Congressional testimony to an attempt to break over a critical line on the 10-year yield. Employment declined in information and in transportation and warehousing. recovery would happen in 2020 and I retired it on Dec.

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May jobs report complicates things for the Fed

Housing Wire

Even though the pace of layoffs has picked up, many businesses, particularly in transportation, healthcare, and hospitality, continue to have strong demand for workers,” Mike Fratantoni , the Mortgage Bankers Association’s chief economist, said in a statement. in April, with the total number of unemployed persons rising to 6.1