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.
The silent generation, aged 74 to 94 years, made up the smallest share of buyers by age at 6% of all homebuyers in 2019, and represented 8% of sellers.
Housing market conditions improved in May, according to REALTORS® who responded to NAR’s May 2020 Realtors® Confidence Index (RCI) Survey, a survey of REALTORS® about their monthly transactions.
New unemployment claims continue to rise more slowly as some people return to work.
Home showings in May 2020 were still below last year’s level, but activity picked up compared to April.
At the national level, housing affordability remained promising in April 2020 compared to a year ago and rose compared to March.
Younger boomers searched the longest of any age group for a median of 12 weeks, viewing a median of 10 homes, and had a median expected tenure in their home of 20 years.
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