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Home prices accelerating in areas without mass transit

Housing Wire

to a record $418,100 since January 2020, while it has risen 15.6% “Since the start of the pandemic, there has been a huge influx of people moving out here from the Bay Area, and the reason is simple — the houses are bigger and the prices are lower,” Mojourau said. to a record $540,500 in transit-accessible neighborhoods.

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Job gains exceed expectations in December

Housing Wire

While this is below the job growth in 2021 and 2022, when the economy was rebounding from the sharp job losses in 2020, it is still a much higher pace of job growth than we had before the pandemic,” Bright MLS Chief Economist Lisa Sturtevant said in a statement. With December’s numbers in, a total of 2.7 million jobs were added to the U.S.

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Mortgage rates fall as labor market normalizes

Housing Wire

The four-week moving average declined slightly by 750, to 212,250 Below is an explanation of how we got here with the labor market, which all started during COVID-19. I wrote the COVID-19 recovery model on April 7, 2020, and retired it on Dec. We are more in line with where the labor market should be when averaging 140K-165K monthly.

Marketing 496
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May jobs report complicates things for the Fed

Housing Wire

Even though the pace of layoffs has picked up, many businesses, particularly in transportation, healthcare, and hospitality, continue to have strong demand for workers,” Mike Fratantoni , the Mortgage Bankers Association’s chief economist, said in a statement. in April, with the total number of unemployed persons rising to 6.1

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Why mortgage rates fell with a stronger jobs report

Housing Wire

What a week this has been for the housing market , from the fireworks of Fed Chair Jay Powell’s Congressional testimony to an attempt to break over a critical line on the 10-year yield. Employment declined in information and in transportation and warehousing. recovery would happen in 2020 and I retired it on Dec.

Mortgage 382
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Are we seeing cracks in the labor market?

Housing Wire

Here are my three key points on the labor market recovery since I retired my COVID-19 recovery model on Dec. 9, 2020: 1. Employment continued growing in government, health care, social assistance, and construction, while transportation and warehousing lost jobs. Job openings should get to 10 million. (We percent, the U.S.

Marketing 478
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DataDigest: Construction costs easing for homebuilders

Housing Wire

after the initial lockdowns in 2020 before rocketing to almost 206 in June 2022. Transportation and warehousing services peaked around 150 in May of 2022 and has fallen slightly in most proceeding moths, landing at 130 last December. Energy, residential homebuilders’ most volatile net input, nosedived to 49.5