Newly built single-family properties comprised a record share of homes on the market in the second quarter of the year, making up nearly one-third of housing inventory nationwide, according to new research from Redfin. New home sales typically make up only about 10% of the market. Low inventory levels of existing homes have kept demand…
Lower import and export levels of temperature-controlled freight contribute to the soft demand reported by reefer carriers. According to data supplied by IHS Markit, both levels are the lowest in five years. In August, national refrigerated import container volumes totaled 148,152 TEU (twenty-foot equivalent units), down 12.6% y/y or 21,327 fewer TEU. The top port…
There is no market recovery coming in 2023, and the best-case scenario is for improvement in Q2 2024, according to Prof. Jason Miller of Michigan State University in the release of the latest Trucking Ton-Mile Index (TTMI). The index is calculated as a weighted geometric mean of physical output, or inflation-adjusted sales, or total labor…
Truckload freight volumes increased in August as shippers positioned freight ahead of the fourth quarter. Buoyed by shipments of retail goods and fresh food, the DAT Truckload Volume Index (TVI) increased for van, refrigerated (“reefer”), and flatbed freight compared to July: Van TVI: 241, up 8% from July but down 8% year-over-year (y/y) Reefer TVI:…