News in end use

The National Association of Realtors® (NAR) reported on Wednesday that its Pending Homes Sales Index (PHSI) declined 4.6% in October from September to a reading of 77.1. The PHSI has dropped for the fifth consecutive month and eleven out of the past twelve months.

On Wednesday, the US Bureau of Labor Statistics reported the Job Openings and Labor Turnover Summary (JOLTS) for October. The number of job openings edged lower to 10.3 million, or 353,000 less than in September. The rate changed little at 6.3%, but 1.0% lower than its peak in March 2022.

According to the latest Federal Housing Finance Agency (FHFA) House Price Index, US home prices rose 12.4% from 2021Q3 to 2022Q3. The FHFA’s seasonally adjusted monthly index for September 2022 was up 0.1% from August of 2022.

Statistics Canada reported today that real gross domestic product (GDP) in Canada edged 0.1% higher in September. Growth was led by goods-producing industries, up 0.3%, while service-producing industries were basically flat.

The S&P CoreLogic Case-Shiller US National Home Price NSA Index for September reported that home prices experienced a 10.6% annual gain in September. This marks the sixth consecutive monthly decline in home prices.

The Conference Board released today its Consumer Confidence Index® (CCI) for November. The CCI declined for the second consecutive month, after experiencing two consecutive months of growth. The Index now stands at 100.2 (1985=100), down from its October reading of 102.2.

The missing middle construction sector is made up of a range of house-scale building with multiple units – compatible in […]

The US Census Bureau and the Department of Housing and Urban Development jointly announced that new residential single-family home sales for October were at a seasonally adjusted annual rate of 632,000, according to estimates. This is 7.5% above the revised September rate of 588,000 but 5.8% below October 2021.

According to data from the Mortgage Bankers Association’s Weekly Mortgage Application Survey, for the week ending November 18th, the Market Composite Index (a measure of mortgage loan application volume) increased 2.2% on a seasonally adjusted basis from one week earlier.

Freddie Mac has released its Primary Mortgage Market Survey® (PMMS) for the week ending November 23th. The PMMS reports that the 30-year fixed-rate mortgage (FRM) averaged 6.58%, down from last week when it averaged 6.61%. A year ago at this time, the 30-year FRM averaged 3.10%.