Lunch & Learn: Are appraisals the next big opportunity in mortgage fulfillment?

This Lunch & Learn for mortgage lenders will explore the evolution of the appraisal process as well as opportunities for innovation.

Why brokerages and mortgage lenders are rushing into JVs

Joint ventures are suddenly stitched into the fabric of a handful of national brokerages. But the idea of the joint venture collides with the loose, informal networks that color the American housing economy.

How to simplify the appraisal process for everyone in today’s hot market

While the world might be slowly getting back to normal, the housing boom is far from over. Appraisers need to make sure they have the right tools to manage the high demand.

Robert Dietz on why the single-family rental market is growing

In this episode of HousingWire Daily, NAHB's Robert Dietz explains why the marketshare of single-family rentals is growing despite strong homebuyer demand. He also discusses the NAHB’s latest Housing Market index.

Politics & Money

Unemployment rate surprises, declining to 13.3% in May

Homebuilders and remodelers added 226,000 jobs, Labor Department data shows

The U.S. unemployment rate unexpectedly declined to 13.3% in May, down from a record 14.7% in April, as the economy added 2.5 million jobs, the Labor Department said on Friday.

It was the second-highest unemployment rate in data that goes back to 1948. Economists expected the number to rise to 19.8%, according to a survey by Trading Economics.

President Donald Trump described the numbers as “stupendous” and “joyous” on Twitter, adding “Really Big Jobs Report. Great going President Trump (kidding but true)!”

The Hispanic unemployment rate was 17.6%, the rate for black Americans was 16.8%, and the rate for white workers was 12.4%, according to the Labor Department.

“We’re in a massive and deep hole, and it’ll take a while to climb out, but at least the hole isn’t getting any deeper,” said Justin Wolfers, a University of Michigan economist.

The numbers for the construction industry show builders are hiring again, said Robert Dietz, chief economist for the National Association of Home Builders. Homebuilders and remodelers added 226,000 jobs in May, Dietz said. The level is 148,400 lower than a year ago, he said.

“This is a strikingly strong turnaround, although the sector employment count remains lower,” Dietz said.

The unemployment rate is dropping as many states begin phased opening of their economies, lifting stay-at-home orders that closed businesses in March.

Even with extreme measures to stop the spread of COVID-19, the pandemic’s death toll passed 107,000 on Friday, according to Johns Hopkins University. That’s a fraction of what public health experts projected would happen if no measures had been taken.

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3d rendering of a row of luxury townhouses along a street

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