The unemployment rate continued to plunge and is now at 4.2%, which is actually below March 2020 levels when the ugly COVID virus came to the country. This measurement should be taken with a grain of salt, however, since only those searching for a job are counted.
The industrial sector is on pace for a historical year despite the supply chain issues that had an impact on the shipping of goods.
The pending home sales pace in October 2021 increased 7.5% last month but fell 1.4% from a year ago.
Mortgage rates remained relatively flat this week, despite rising concerns of the omicron COVID variant, rising slightly to 3.11% from 3.10% the previous week. These low mortgage rates continue to offer favorable conditions to homebuyers and homeowners who want to refinance.
This data visualization shows year-over-year percent change in retail sales by month, retail type, and state for the period January 2019 to August 2021.
Housing market activity in October fell 0.8% from September 2021, with existing-home sales reaching a 6.34 million seasonally adjusted annual rate.
After office occupancy rose by 6 million square feet during 2021 Q3, occupancy fell anew by 2 million square feet as of November compared to 2021 Q3 bringing the total loss in office occupancy to 133 million square feet since 2020 Q2.
First-time buyers continue to struggle to compete with cash and non-primary residence buyers, according to the October 2021 REALTORS® Confidence Index report.
In October 2021, both consumer confidence and retail sales increased, with consumers indicating they intend to purchase housing, vehicles, and appliances.
Mortgage rates rose significantly this week, due to inflation that was higher than expected, with the 30-year fixed mortgage rate moving up to 3.10% from 2.98% the previous week.
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