Housing News Weekly Recap 7-1-2017 (Video)

by: EconMatters

We discuss the week's economic housing data in this housing market video in Mortgage Applications data and the Pending Home Sales Index data. The weekly Housing Data has seen a slight pullback in most categories as of late, except for Home Prices.

We find a continuing theme in the Housing Industry, a shortage of new housing inventory causing existing home prices to rise. We have a shortage of construction workers in the industry who left after the Housing Crash and many of these workers haven't come back to the industry. The forecasts predict a worker shortage for the foreseeable future, so if you are looking for employment opportunities, fit and handy, this may be a field for you that has long-term potential.

MBA Mortgage Applications

Released On 6/28/2017 7:00:00 AM For wk6/23, 2017
Prior Actual
Composite Index - W/W Change 0.6 % -6.2 %
Purchase Index - W/W Change -1.0 % -4.0 %
Refinance Index - W/W Change 2.0 % -9.0 %

Pending Home Sales Index

Released On 6/28/2017 10:00:00 AM For May, 2017
Prior Prior Revised Consensus Consensus Range Actual
Pending Home Sales Index - M/M -1.3 % -1.7 % 0.5 % 0.4 % to 0.8 % -0.8 %
Pending Home Sales Index - Level 109.8 109.4 108.5

The number of people working in construction is still below what it was in 2007.

Source: Bureau of Labor Statistics