News in end use

Home sales increased 1.3% month-over-month in August to the highest level since January and the second highest level in over a year, CREA reported.

The average length of time to complete construction of a multifamily building after obtaining authorization was 19.9 months in 2023, the Census Bureau and NAHB reported.

Lower mortgage rates and rising inventory are giving home buyers a window of opportunity at an unusual time of year, Zillow reported.

The Index of Consumer Sentiment rose to a reading of 69.0 in September, up from 67.9 in August. This is a month-over-month increase of 1.6% and up 1.8% year-over-year.

The 30-year fixed-rate mortgage averaged 6.20%, down from last week when it averaged 6.35%, Freddie Mac reported.

The total value of building permits in Canada soared 22.1% month-over-month to $12.4 billion (CAD) in July. This follows two consecutive months of declines.

During the four-week period ending on September 8th, the median US monthly housing payment was $2,558—down nearly to where it was at the start of the year—Redfin reported.

The Producer Price Index (PPI) for final demand, seasonally adjusted, advanced 0.2% in August.

The advance figure for seasonally adjusted initial unemployment claims was 230,000, an increase of 2,000 from the previous week’s revised level.