US pending home sales fell 1.9% week-over-week to their lowest level in records dating back to 2021, while mortgage rates remained elevated at 7.4%, Redfin reported.
News in end use
Leading Indicator of Remodeling Activity Points to Slow Growth Into 2027
Harvard’s LIRA forecasts homeowner remodeling spending growth will remain sluggish, reaching just 1.5% year-over-year in 2027Q3, with annual spending near $525 billion.
State-Level Construction Employment Data for September
Construction employment rose across 25 states in September, with the industry overall adding 11,000 jobs, the BLS and NAHB reported.
US Market Share of Modular and Other Off-Site-Built Housing Holds Steady in 2025
The US market share of modular and panelized single-family homes held steady at 3.0% in 2025, with approximately 30,000 homes completed, NAHB reported.
University of Michigan Releases Final Results of Its Consumer Sentiment Index for October
The Index of Consumer Sentiment fell to 48.0 in October, down 0.2% from September and 10.4% from a year ago.
The Conference Board US Leading Economic Index Holds Steady in September
The Conference Board Leading Economic Index was unchanged in September at 99.6, following a 0.1% decline in August. The six-month growth rate rose to 0.6%.
US Mortgage Rates Decline in the Week Ending October 22
The 30-year fixed-rate mortgage averaged 7.32%, down from 7.40% the previous week, Freddie Mac reported.
US Weekly Initial Jobless Claims Decline in the Week Ending October 17
The advance figure for seasonally adjusted initial unemployment claims was 194,000, a decrease of 6,000 from the previous week.
US Pending Home Sales Decline in September
Pending home sales declined 7.3% month-over-month and 11.3% year-over-year in September, with all four major US regions recording decreases, NAR reported.
US Single-Family Rent Growth Accelerates for Sixth Consecutive Month
US single-family rents increased 2.0% year-over-year in August, marking the sixth consecutive month of accelerating annual rent growth, Cotality reported.