The combination of increasing virus cases, stay-at-home orders and business operation limitations led to significantly reduced retail brick-and-mortar foot traffic and as a result, substantial retail store closures and significant decreases in retail employment.
Eleven billion dollars in rental assistance is needed per month to assist renters and small landlords.
Buyers purchasing multi-generational homes during the pandemic rose to a series high of 15%.
FHA-insured financing used to be the go-to for first-time buyers who need a lower down payment, but that has changed: more first-time buyers are going with conventional rather than FHA-insured loans.
The number of Americans applying for new jobless claims rose slightly by 13,000 last week to 861,000. Continued claims, which measure the number of people receiving checks for regular unemployment benefits, dropped below 5 million.
Housing market activity this January rose modestly 0.6% from December 2020, reaching a 6.69 million seasonally adjusted annual rate.
January 2021 seasonally adjusted advanced estimates of United States retail and food services sales saw a strong increase from December sales figures, with aid from the government stimulus package, vaccine rollout, and better COVID numbers as momentum from a historic holiday season carried over.
As expected, mortgage rates rose this week following the trend of the 10-year Treasury yield. Specifically, the 30-year fixed rate picked up to 2.81% from 2.73% the previous week.
Affordability increased in December compared to November as the median family income rose by 1.9% while the median home prices grew by 13.5%.
Prices continued to rise in Q4 2020, with 88% of the markets showing double-digit home price appreciation. National median prices rose 14.9% year-over-year to $315,900.
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