Home showings in June 2020 showed a strong rebound from the level in May.
The commercial real estate sector continues to struggle as a result of the coronavirus pandemic.
In the week ending July 4, new unemployment claims decreased to 1.3 million, a decrease of 99,000 from the previous week's revised level.
With most states lifting the restrictions of business and public spaces, hundreds of millions of people started moving around again. Mobility typically brings economic development and, subsequently, a faster recovery in the local economy from the recent shutdown orders.
In considering where to move, potential home owners and renters have to keep their fingers on the pulse of home price and rent growth.
The Coronavirus Crisis has people struggling to pay bills: twelve percent of homeowners did not pay on time their mortgage last month, according to the U.S. Census.
With significant improvements in the job market, employment grew by 4.8 million new jobs in June.
The near 5 million job additions in a single month in June is off-the-chart the best ever by a wide margin.
May’s pending home sales pace rose 44.3% last month and fell 5.1% from a year ago. Even with the declines, pending sales bounced back from the prior two months.
Existing-home sales data showing that housing market activity this May fell 9.7% from April 2020. May’s sales of existing homes dropped 26.6 % from May 2019.
Search Economists' Outlook