The coronavirus pandemic continued its historic assault on the domestic and global economy in April, and the housing market did not go unscathed. Typically, the hot spring home-buying season would be in full swing in April, but pandemic-related impacts, including shelter-in-place orders, the rapid surge in unemployment, and declining consumer ...
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The shutdown of large discretionary consumption segments of the U.S. economy, with the intent to slow and prevent the spread of COVID-19, has triggered one of the fastest contractions in U.S. economic activity ever observed. As a result, millions of Americans have filed for jobless benefits and the unemployment rate rose to 14.7 percent in April, ...
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The coronavirus pandemic continues to significantly impact the domestic and global economy. Weekly unemployment claims in April have broken records and consumer confidence has declined with the worsening economic conditions. More than 18 percent of the labor force has claimed unemployment in the past six weeks. Less than two months ago, the ...
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First American Chief Economist Mark Fleming was interviewed by Gary Acosta, co-founder and CEO of the National Association of Hispanic Real Estate Professionals, last week and discussed his perspective on the state of the housing market amid the pandemic and why the housing market may be better positioned than many believe.
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As the coronavirus outbreak continues to affect the domestic and global economy, the housing market has shown that it is not immune to its impact. In March, the number of existing-home sales fell 8.5 percent relative to February, and the number of new listings continued to dwindle. While mortgage rates have fallen due to the current economic ...
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The coronavirus pandemic continues to take hold of the domestic and global economy. The housing market, although in a better position than it was at the onset of the last recession, will not be immune to the impact. Weekly unemployment claims have soared to record highs, which has already contributed to declining consumer confidence.
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