The Redfin Home Price Index showed that US home prices climbed 0.6% month-over month in February, on par with the average gain in the years leading up to the pandemic.
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Canadian Job Vacancies Decline at a Slower Rate in 2023Q4
In 2023Q4, job vacancies in Canada fell by 3.6%, or 25,400, to 678,500. The job vacancy rate decreased 0.1 percentage point to 3.8%.
US Housing Starts, Building Permits, and Completions Bounce Back in February
Privately‐owned housing starts in February were at a SAAR of 1,521,000, 10.7% above the revised January estimate of 1,374,000.
Fannie Mae Economic and Strategic Research Group Lowers Expectations for Total Home Sales in 2024
According to the ESR Group, the increase in mortgage rates in February has driven a modest downgrade to expectations for total home sales and mortgage originations in 2024.
Mortgage Applications for New Home Purchases Expand in February
Mortgage applications for new home purchases increased 1.0% month-over-month and 15.7% year-over-year in February, the MBA reported.
Increases in the Canadian Consumer Price Index Continue to Moderate in February
The Canadian Consumer Price Index (CPI) increased 2.8% year-over-year in February, down marginally from a 2.9% gain in January.
US Existing-Home Listings Expand in February, Posting Largest Year-Over-Year Gain Since May 2021
New listing of existing homes increased 3.8% month-over-month on a seasonally adjusted basis in February, Redfin reported.
Investment in Canadian Building Construction Declines in January
Investment in building construction declined 0.9% to $19.7 billion (CAD) in January, with the residential component 1.4% lower at $13.6 billion.
US Builder Confidence Climbs Above Breakeven in March
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) increased 3 points to a reading of 51 in March.
Canadian Industrial Product and Raw Materials Price Indexes Post Month-Over-Month Gains in February
The price of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI) increased 0.7% on a monthly basis in February.