Recent content by Hoca
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Household Real Estate Asset Value Falls to Start the Year
The market value of household real estate assets fell from $48.1 trillion to $47.9 trillion in the first quarter of 2025, according to the most recent release of U.S. Federal Reserve Z.1 Financial Accounts. The value of household real estate assets declined for three consecutive quarters after...- Hoca
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- Forum: Wildlife photography
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Producer Prices Rise in May: New Construction Input Analysis
Prices for inputs to new residential construction—excluding capital investment, labor, and imports—rose 0.2% in May, following a (revised) decrease of 0.2% in April. These figures are taken from the most recent Producer Price Index (PPI) report published by U.S. Bureau of Labor Statistics. The...- Hoca
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- Forum: Wildlife photography
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Inflation Up Slightly in May
Despite inflationary pressure from tariffs, inflation in May rose slightly but came in softer than expected. The Consumer Price Index increased from 2.3% in April to 2.4% in May year-over-year, according to the Bureau of Labor Statistics’ report. While this report reflected consumer prices after...- Hoca
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- Forum: Wildlife photography
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House Price Appreciation by State and Metro Area: First Quarter 2025
House price growth slowed in the first quarter of 2025, partly due to a decline in demand and an increase in supply. Persistent high mortgage rates and increased inventory combined to ease upward pressure on house prices. These factors signaled a cooling market, following rapid gains seen in...- Hoca
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- Forum: Wildlife photography
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AI’s Role in Reshaping Employment: From Theory to Home Building Sector Impacts
The rapid rise of artificial intelligence (AI), particularly machine learning and generative AI (GenAI), is reshaping industries, creating new economic opportunities, and raising critical questions about its long-term impact on jobs and economic growth. A recent study by Ping Wang and Tsz-Nga...- Hoca
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- Forum: Wildlife photography
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U.S. Economy Added 139,000 Jobs in May
Despite ongoing economic and policy uncertainty, the labor market remains resilient, though early signs of softening are beginning to emerge. Job growth moderated in May, and employment figures for March and April were notably revised downward. The unemployment rate remained at 4.2%. In May...- Hoca
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States with Highest and Fastest Rising Construction Wages, 2025
Wage growth in construction continued to decelerate in April on a national basis, but the differences across regional markets remain stark. Nationally, average hourly earnings (AHE) in construction increased 3.6% year-over-year and crossed the $39.3 mark when averaged across all payroll...- Hoca
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- Forum: Wildlife photography
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Mortgage Applications Dip in May amid Refinance Slowdown
Mortgage loan applications declined in May, driven by a drop for refinancing activity. According to the Mortgage Bankers Association (MBA) weekly survey, the Market Composite Index, which measures mortgage application volume, fell 5.5% month-over-month on a seasonally adjusted (SA) basis...- Hoca
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- Forum: Wildlife photography
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Construction Job Openings Steady in April
The count of open, unfilled positions in the construction industry held steady amid a slowdown for housing, per the April Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The number of open jobs for the overall economy increased slightly from 7.20 million in March to...- Hoca
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- Forum: Wildlife photography
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HBGI Q1 2025: Multifamily Growth in Smaller Markets
Single-family construction growth slowed substantially across all markets in the first quarter of 2025, according to the Home Building Geography Index (HBGI). Multifamily construction growth remained negative in the largest markets but reported significant expansion in lower population density...- Hoca
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- Forum: Wildlife photography
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April Private Residential Construction Spending Dips
Private residential construction spending fell by 0.9% in April, marking the third consecutive monthly decline. This decrease was primarily driven by reduced spending in single-family construction and home improvements. Compared to a year ago, total spending was down 4.8%, as the housing sector...- Hoca
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- Forum: Wildlife photography
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Multifamily Absorption Moves Lower for New Apartments
The percentage of new apartment units that were absorbed within three months after completion continued to trend lower, according to the Census Bureau’s latest release of the Survey of Market Absorption of New Multifamily Units (SOMA). The survey covers new units in multifamily residential...- Hoca
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- Forum: Wildlife photography
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Treasury Yield Increase Drives Mortgage Rates Higher in May
Mortgage rates continued their upward trend in May due to market volatility triggered by fiscal concerns and weaker U.S. Treasury demand. According to Freddie Mac, the average 30-year fixed-rate mortgage rose to 6.82% — a 9-basis-point (bps) increase from April. The 15-year fixed-rate mortgage...- Hoca
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- Forum: Wildlife photography
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Aging-in-Place Remodeling Work Fell While Familiarity and Receptiveness Remain High
Only 56% of professional remodelers undertake projects designed to allow homeowners to Age-in-Place (AIP), according to results from NAHB’s Q1 2025 Remodeling Market Index (RMI) survey. This is the lowest percentage recorded since NAHB began periodically asking AIP questions on its RMI survey...- Hoca
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- Forum: Wildlife photography
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Building Material Price Growth Minimal in April
Prices for inputs to new residential construction—excluding capital investment, labor, and imports—fell 0.4% in April, following a (revised) increase of 0.8% in March. These figures are taken from the most recent Producer Price Index (PPI) report published by U.S. Bureau of Labor Statistics. The...- Hoca
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- Forum: Wildlife photography