Find out how builders feel about the market! {Market Report} November 20th

November 20, 2020 abryant

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	October retail sales rose 0.3% over September. The pace was the slowest in 6 months, suggesting consumers may be growing more hesitant to spend as pandemic numbers rise.
	Congress remains locked in a stalemate over a coronavirus stimulus. Increases in job losses and reduced spending could slow the economic recovery.
	Jobless claims unexpectedly rose by 31,000 to 742,00 last week, as new business restrictions sparked a fresh wave of layoffs.


	November’s homebuilder confidence index for construction of single-family homes shattered record highs for the 3rd straight month, as more buyers are heading for the suburbs.
	Housing starts increased more than expected in October, suggesting low rates and strong demand continue to sustain the housing market.
	Mortgage applications to purchase a home rose 4% for the week, up 28% annually. Refinance application volume was down 2% for the week but was up 98% over last year.

“It is not the ship so much as the skillful sailing that assures the prosperous voyage.”
George William Curtis

Next week’s potential market moving reports are:

Monday, November 23rd – Manufacturing Index
Tuesday, November 24th – Case-Shiller Home Price Index
Wednesday, November 25th – First Time Jobless Claims, Durable Goods Orders, New Home Sales, Consumer Sentiment
Thursday, November 26th – Thanksgiving Holiday – All Markets Closed
Friday, November 27th – No Reports Scheduled

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