News in end use

New residential single-family home sales in August were at a seasonally adjusted annual rate of 716,000, down 4.7% from July.

48% of all US listings have lingered on the market for at least 60 days, the highest share for any August since 2019, Redfin reported.

Mortgage loan application volume increased 11.0% on a seasonally adjusted basis from one week earlier, MBA reported.

US homebuyers need an annual income of $115,454 to afford the median priced home, down 1.4% year-over-year and the first annual decline since June 2020, Redfin reported.

US house prices, seasonally adjusted, increased 0.1% in July. Year-over-year, house prices rose 4.5%.

The S&P CoreLogic Case-Shiller US National Home Price NSA Index posted an annual gain of 5.0% in July, down from a 5.5% annual increase in June.

The Conference Board Consumer Confidence Index declined to 98.7 in September, down from an upwardly revised reading of 105.6 in August.

The number of loans in forbearance increased to 0.31% of servicers’ portfolio volume as of August 31st, up from 0.27% in July, MBA reported.

40% of builders’ single-family home sales so far in 2024, on average, have been made to first-time home buyers, NAHB and Wells Fargo reported.

The New Housing Price Index was unchanged month-over-month in August. Year-over-year, the index was unchanged, following a 0.1% increase in July.