The NAR Pending Homes Sales Index declined 6.3% in April to a reading of 71.3. Compared to a year earlier, the index was down 2.5%.
News in end use
US Real GDP Declines at an Annual Rate of 0.2% in Q1, BEA Reports in Its “Second” Estimate
Real GDP declined at an annual rate of 0.2% in Q1, following an increase of 2.4% in 2024Q4.
US Mortgage Rates Inch Higher in the Week Ending May 29
The 30-year fixed-rate mortgage averaged 6.89%, up from last week when it averaged 6.86%, Freddie Mac reported.
US Weekly Initial Jobless Claims Increase in the Week Ending May 24
The advance figure for seasonally adjusted initial unemployment claims was 240,000, an increase of 14,000 from the previous week’s revised total.
Canadian Employment Declines in March
Payroll employment fell by 0.3% (54,100 jobs) in March. Compared with a year earlier, payroll employment was up 0.2% (32,800 jobs).
Prices for Inputs to New US Residential Construction Fell 0.4% in April
Prices for inputs to new residential construction fell 0.4% in April, the BLS and NAHB reported. Prices rose 0.6% year-over-year.
US Mortgage Applications Decline in the Week Ending May 23
Mortgage loan application volume decreased 1.2% on a seasonally adjusted basis from one week earlier, MBA reported.
New Listings of US Homes Reach Highest Level in Nearly Three Years
In the four-week period ending on May 18, new listings of homes for sale rose 8.4% year-over-year to their highest level in nearly three years, Redfin reported.
Investment in Canadian Building Construction Falls 0.9% in March
Total investment in building construction declined 0.9% in March to CA$22.2 billion.
FHFA Home Price Index Climbs 4.0% Year-Over-Year in Q1
The Federal Housing Finance Agency reported that US house prices rose 4.0% year-over-year in Q1, according to the FHFA House Price Index.