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2025 labor market holds key for mortgage rates

Housing Wire

Employment trended up in health care, financial activities, transportation and warehousing, and social assistance. economy can withstand job losses in the government sector, reduced spending in the economy, and a housing market on the brink of losing residential construction projects. Bureau of Labor Statistics.

Marketing 439
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Florida struggles with affordable housing despite bulking up construction

Housing Wire

Despite bolstering its construction activities and the availability of single-family homes , the state of Florida continues to endure shortages in its affordable housing stock that impact the workforce and retirees living on fixed incomes. Sales volume was also higher in the populous Southeast Florida counties and Orange County.

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DataDigest: Construction costs easing for homebuilders

Housing Wire

New home construction exploded early in the pandemic as soaring home demand squeezed existing inventory nationwide, giving homebuilders a much bigger share of a shrinking pie. Index values for most construction inputs are down from 2022 but remain above pre-pandemic levels. That could set the backdrop for a slower pace of construction.

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Inventory needs to increase to balance housing market: Fed Beige Book

Housing Wire

High inflation has reduced consumers’ purchasing power, which has led to weakened sales and construction across all 12 Federal Reserve districts. While home prices have started to inch down, more inventory is needed for a balanced housing market, the Federal Reserve Beige Book said. However, housing affordability worsened.

Inventory 448
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Florida’s housing affordability crisis is reaching a breaking point

Housing Wire

“We need solutions that protect homeowners without pricing them out.” “We need solutions that protect homeowners without pricing them out.”

Insurance 221
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The Altadena story, from Jackie Robinson’s home to ground zero

Housing Wire

The construction of Interstate 210 (aka the Foothill Freeway) through the northwest neighborhoods of Pasadena displaced about 3,000 Black residents in the 1950s. When house prices are inflated, it’s not that the construction cost is inflated the land underneath the house has gone way up.

Insurance 355
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Mortgage rates are falling as the labor market falters

Housing Wire

Job gains in July were most notable in industries like health care (55,000 jobs), transportation and warehousing (14,000 jobs), and construction (25,000 jobs), a positive for the housing industry. Overall, for the past year, the construction sector has added an average of 19,000 jobs per month.

Marketing 493