The WPJ

Atlanta

Homebuilder Confidence in the U.S. Drops to 2024 Low in June

Based on the latest National Association of Home Builders / Wells Fargo Housing Market Index, U.S. home builder confidence in the market for newly built single-family homes was 43 in June 2024, down two points from May 2024. This is the lowest reading since December 2023.

Residential Rents in U.S. Upticked for Second Consecutive Month in May

According to Redfin, median U.S. asking rent rose 0.8% year over year in May 2024 to $1,653 -- the highest level since October 2022. That's the second consecutive increase (rents climbed 0.9% year over year in April) following 11 months of decreases. Rents rose 0.5% on a month-over-month basis.

U.S. Metros Most Exposed to Housing Downturns Led by New York City, Chicago and Inland California

Based on ATTOM's newly released Special Housing Risk Report, California, New Jersey and Illinois once again had the highest concentrations of the most-at-risk markets in the country, with some of the biggest clusters in the New York City and Chicago areas, as well as inland California. Less-vulnerable markets remained spread mainly throughout the South and Midwest.

U.S. Mortgage Applications Temporarily Spike 16 Percent in Early June

According to the Mortgage Bankers Association's latest Weekly Applications Survey for the week ending June 7, 2024, U.S. mortgage applications rose by 15.6 percent from the previous week.

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