Year: 2023

MetroIntelligence Economic Update by P. DUFFY March employment grew by 236,000, unemployment at 3.5 percent Total nonfarm payroll employment rose by 236,000 in March, compared with the average monthly gain of 334,000 over the prior 6 months, while the unemployment rate changed little at 3.5 percent. The labor force participation rate, at 62.6 percent, continued to trend up in March. The employment-population ratio edged up over the month to 60.4 percent. These measures remain below their pre-pandemic February 2020 levels (63.3 percent and 61.1 percent, respectively). Over the past 12…

Nearly Half of Sellers’ Agents Said Staging a Home Reduced Its Time on Market Twenty percent of both buyers’ and sellers’ agents said home staging increased the dollar value offered by between 1% and 5% compared to similar homes on the market not staged. Read More National Association of Realtors https://www.nar.realtor/newsroom/nearly-half-of-sellers-agents-said-staging-a-home-reduced-its-time-on-market-nar-report-finds

HUD Announces Assistance For Arkansas in Wake of Severe Storms and Tornadoes The U.S. Department of Housing and Urban Development announced the implementation of federal disaster relief for the state of Arkansas to assist state, and local recovery efforts. Read More U.S. Department of Housing and Urban Development https://www.hud.gov/press/press_releases_media_advisories/HUD_No_23_071

MetroIntelligence Economic Update by P. DUFFY Purchase loan applications fall 4 percent from previous week, down 35 percent year-on-year The Market Composite Index for mortgage applications decreased 4.1 percent on a seasonally adjusted basis from one week earlier, with purchase loans falling 4 percent (and down 35 percent year-on-year) and refinances falling 5 percent (and down 59 percent year-on-year). The average contract interest rate for conforming 30-year fixed-rate mortgages decreased to 6.40 percent from 6.45 percent. https://www.mba.org/news-and-research/newsroom/news/2023/04/05/mortgage-applications-decrease-in-latest-mba-weekly-survey   March manufacturing sector index slips further to 46.3 percent The March Manufacturing…

Most Popular Colors for a Home’s Exterior Homeowners aim to lighten up their home’s look on the outside, a new survey finds. Read More National Association of Realtors https://www.nar.realtor/blogs/styled-staged-sold/5-most-popular-colors-for-a-homes-exterior

Toll Brothers Announces New Luxury Homes Coming to Walsh Master Plan in Fort Worth Toll Brothers at Walsh will open its new phase of single-family homes in this highly desirable master-planned community developed by the Walsh Family and Republic Property Group. Read More Global Newswire https://www.globenewswire.com/news-release/2023/04/06/2642815/0/en/Toll-Brothers-Announces-New-Luxury-Homes-Coming-Soon-to-Walsh-Master-Plan-in-Fort-Worth-Texas.html

RESNET Launches RESNET-Rated Home Label RESNET has launched the new Rated Home Label. The simple one-page label is now available for all homes in the RESNET Registry. Read More RESNET https://www.resnet.us/articles/resnet-launches-resnet-rated-home-label/

Inflation Reduction Act Offers a Variety of Green Building Tax Incentives The Renewable Electricity Production Tax Credit (PTC) is a corporate credit tax available to the commercial and industrial sectors. Read More Holland & Knight https://www.hklaw.com/en/insights/publications/2023/03/inflation-reduction-act-offers-a-variety-of-green-building