January 26, 2023
According to the National Association of Home Builders, a Housing Recession is indicated by the decline in single-family home sales, month over month, for six consecutive months.
If those stats are pressing enough, the recent mortgage interest rate adjustments set in place by the federal reserve are a telling sign that the US housing market is in dire need of an adjustment. Read More
Nonresidential construction spending expected to moderate through 2024
WASHINGTON – January 17, 2023 – While spending on nonresidential construction picked up momentum toward the end of 2022, construction spending will moderate in 2023 and slow significantly in 2024, according to a new report from the American Institute of Architects (AIA).
Despite macroeconomic headwinds such as inflation, rising interest rates, and weak consumer sentiment scores, the AIA’s Consensus Construction Forecast panel—comprising leading economic forecasters—is projecting nonresidential construction spending to grow 5.8 percent in 2023 but slow to under 1 percent in 2024
January 26, 2023
Freddie Mac – Mortgage Rates Continue to Fall, Hitting Lowest Level Since Mid-September
The Freddie Mac fixed rate for a 30-year loan declined again this week, to 6.33%, as investors watched for more signs of slowing inflation. https://www.realtor.com/research/blog/
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