In January, net new payroll job gains (those receiving steady W-2 statement salaries) totaled 517,000. Net job gains should continue because there are far more job openings than the number of unemployed searching for jobs.
The rate on a 30-year fixed mortgage dropped to 6.09% from 6.13% the previous week.
In 2022, 15.6% of young adults aged 25 to 34 lived at home with family. In 2020, the share of young adults aged 25 to 34 living at home grew to the highest share recorded since 1960, 17.8%.
After a historically low moving rate in 2021, data indicates that even fewer Americans moved across the country in 2022. Using the United States Postal Service® change-of-address data, we see a persistent declining migration trend for 2022.
December’s pending home sales pace increased 2.5% last month but fell 33.8% from a year ago.
The rate on a 30-year fixed mortgage dropped to 6.13% from 6.15% the previous week.
December’s sales of existing homes weakened by 34.0% from December 2021, marking eleven consecutive months of home sales declines.
Commercial real estate performed well overall in 2022. However, this year will be challenging for most commercial real estate market sectors, with higher vacancy rates in the office and multifamily sectors.
The rate on a 30-year fixed mortgage dropped to 6.15% from 6.33% the previous week.
The average rate on a 30-year fixed mortgage fell to 6.33% from 6.48% the previous week.
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