MARKETWATCH
Housing-Related Labor Shortage Continues
Homeowner Equity Surges 34.4% of mortgaged residential properties in the U.S. were considered equity-rich in the second quarter of 2021. This is up from 31.2% in the first quarter of 2021 and from 27.5% in the second quarter of 2020. Additionally, just 4.1% of mortgaged homes, or one in 24, were considered seriously underwater in the second quarter of 2021. Source: ATTOM 2021 U.S. Home Equity & Underwater Report
There were 388,345 jobs posted for skilled trades-related workers between May and June, a 50% increase from pre-pandemic levels—with most positions remaining unfilled for an average of 24 days. Among the postings for skilled jobs that have seen the most growth compared to prepandemic numbers are: •Concrete masons - up 904% •Window glaziers - up 422% •House painters - up 329% •Electricians - up 130% •Plumbers - up 129% •Carpenters - up 121% Source: skilled.peopleready.com
2.86 million renters (8.6%) and 2.19 million (4.6%) mortgagors missed payments in June, up from 7.2% of renters and 4.5% of mortgagors who missed payments in March (4.53 million households). Source: MBA Research Institute for Housing America (RIHA)
Home Prices Reach New High Home values reached a 40-year high, with home prices increasing 17.2% YoY in June 2021. Month-overmonth, home prices increased by 2.3% compared to May 2021. Home price gains are projected to slow to a 3.2% increase by June 2022. Source: CoreLogic Home Price Index
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