The NAHB Housing Market Index for November increased 2 points to 70—a reading above 50 is considered positive and to signal expansion. This is the second highest builder confidence reading in over 12 years, indicating the housing market is steadily growing. Job and economic growth are helping to drive the demand for housing.
Forty-six percent of renters apply 30% of their income to rent. From 2013 to 2016, rental costs in New Orleans, LA increased 10.5% and rents in the largest cities across are still growing.
Initial Jobless Claims for last week were reported at 249K.