MetroIntelligence Economic Update by P. DUFFY
Consumer credit use jumps sharply in February, especially for revolving credit
In February, consumer credit increased at a seasonally adjusted annual rate of 11.3 percent, jumping from a 2.4-percent rise in January. Revolving credit increased at an annual rate of 20.7 percent (vs. 4.0 percent in January) while nonrevolving credit increased at an annual rate of 8.4 percent (vs. 1.9 percent in January).
NAHB analysis shows highest-paid construction occupations in 2021
According to the latest May 2021 Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS) and analysis by the National Association of Home Builders (NAHB), half of payroll workers in construction earn more than $49,070 and the top 25% make at least $75,820. In comparison, the U.S. median wage is $45,760, while the top quartile (top 25%) makes at least $68,590.
Realtor.com’s 20 hottest housing markets in March
The top 20 hottest markets are spread out across 15 states, with multiple metros in California, Massachusetts, North Carolina and New Hampshire. As prices soar to new heights nationwide, affordability remains a key feature of half of March’s hottest markets with median listing prices below the national median. The Market Hotness rankings take into account two aspects of the housing market: 1) market demand, as measured by unique viewers per property on Realtor.com, and 2) the pace of the market as measured by the number of days a listing remains active on Realtor.com.