The Conference Board Consumer Confidence Index declined to 98.7 in September, down from an upwardly revised reading of 105.6 in August.
News in end use
Share of Mortgage Loans in Forbearance Increases for Third Consecutive Month 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.
Share of First-Time Buyers For New Single-Family Homes Declines in 2024
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.
Canadian New Housing Price Index Unchanged in August
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.
Prices Flat for Inputs to Residential Construction in August
The price of inputs to residential construction, goods, remained flat in August after increasing 0.1% in July, the BLS and NAHB reported.
Canadian Industrial Product and Raw Materials Price Indexes for August
Prices for lumber and other wood products rose 2.1%, with softwood lumber rebounding 7.7% after four consecutive monthly declines.
US Housing Payments Post Biggest Year-Over-Year Decline Since May 2020
During the four-week period ending on September 15th, the median US housing payment was $2,534, down 2.7% from a year earlier—the biggest decline since May 2020—Redfin reported.
Share of US Custom Built Homes Declined in 2023
18.8% of all new single-family homes started in 2023 were custom homes, down from 20.4% in 2022, the Census Bureau and NAHB reported.
Commercial and Multifamily Mortgage Debt Outstanding Increases Modestly in Q2
The level of commercial/multifamily mortgage debt outstanding increased $31.4 billion, or 0.7%, in Q2, MBA reported.
Fannie Mae ESR Group Forecasts Existing-Home Sales in 2024 to Be at Slowest Pace Since 1995
Existing-home sales are not expected to pick up meaningfully through the remainder of 2024, the Fannie Mae ESR Group reported.