The Consumer Price Index (CPI) rose 1.8% year-over-year in December, down from a 1.9% increase in November.
News in end use
Number of US Mortgage Loans in Forbearance Declines in December
The total number of loans in forbearance declined from 0.50% of servicers’ portfolio volume in November to 0.47% in December, MBA reported.
US Existing-Home Prices Increase 5.4% Year-Over-Year in December
US home prices grew 0.4% in December on a seasonally adjusted basis, slightly faster than the 0.5% growth posted in November, Redfin reported.
Investment in Canadian Building Construction Slips in November
Total investment in building construction decreased 0.5% to $21.4 billion (CAD) in November, following a 1.1% decline in October.
US Pending Home Sales Declined in December, Redfin Reports
Pending home sales fell 4.5% in December on a seasonally adjusted basis, the largest decline since October 2022, Redfin reported.
US Nonresidential Construction Input Costs Decline 0.2% in December
Nonresidential construction input prices decreased 0.2% in December, the BLS and ABC reported.
US Housing Starts Rise in December, While Permits and Completions Decline
Privately‐owned housing starts in December were at a seasonally adjusted annual rate of 1,499,000, 15.8% above the revised November estimate.
Canadian Housing Starts Decline 13% in December
Housing starts for all areas in Canada decreased 13% in December (231,468 units, SAAR), CMHC reported.
Mortgage Applications for New US Home Purchases Decline 3% in December
Mortgage applications for new-home purchases declined 3%, unadjusted, in December, MBA reported.
US Builder Confidence Inches Higher in January
Builder sentiment in the market for newly built single-family homes rose in January, according to the NAHB/Wells Fargo Housing Market Index.