Statistics Canada (StatsCan) reported today (3-16-22) that sales in the wholesale sector rose 4.2% in January to $79.8 billion (CAD). The increase in January marks the sixths consecutive month of growth in the sector and the is the largest since June 2020. Five of the seven subsectors posted gains.
News in end use
Home Builder Sentiment Declines for Fourth Consecutive Month in March
On Wednesday (3-16-22), The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) reported that builder sentiment in the market for newly built single-family homes edged 2-points lower in March to a reading of 79. Despite four consecutive monthly declines, the HMI has posted solid reading for the past 6-months.
Mortgage Applications Decline in Week Ending March 11, 2022
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey (WMAS), for the week ending March 11, 2022, the Market Composite Index (a measure of mortgage loan application volume) declined -1.2% on a seasonally adjusted basis from one week earlier.
Canadian Home Sales Increased in February
The Canadian Real Estate Association (CREA) reported today (3-15-22) that national homes sales in Canada were up in February 2022, as buyers took advantage of early spring listings. Home sales recorded over Canadian MLS® Systems climbed 4.6% between January and February 2022.
Canadian Manufacturing Sales Increase for Fourth Consecutive Month in January 2022
Statistics Canada (StatsCan) reported today (3-15-22) that manufacturing sales rose for the fourth consecutive month—up 0.6% to $64.8 billion in January on higher sales in 14 of 21 industries, led by the petroleum and coal (+6.8%) and wood (+6.5%) product industries. The gain was partially offset by lower sales of motor vehicles (-17.5%).
Producer Price Index for Final Demand Increased 0.8% February 2022
The Bureau of Labor Statistics (BLS) reported today (3-15-22) that the Producer Price Index (PPI) for final demand, seasonally adjusted, increased 0.8% in February. This rise followed advances of 1.2% in January and 0.4% in December 2021. On an unadjusted basis, final demand prices moved up 10.0% for the 12 months ended in February.
Investment in Canadian Building Construction Increased in All Sectors in January 2022
Statistics Canada (StatsCan) reported today (3-14-22) that investment in building construction increased 3.4% to $19.1 billion (CAD) in January 2022, with gains posted in all components. On a constant dollar basis (2012=100), investment in building construction increased 4.0% to $12.1 billion.
Federal Reserve’s “Flow of Funds” Report Posts Largest Increase on Record in Q4 2021
According to the latest edition of the Federal Reserve’s Z.1 Financial Accounts of the United States (i.e., the “Flow of Funds), in Q4 2021, the aggregate market value of all owner-occupied real estate in the United States experienced the largest quarterly increase on record.
U.S. Homeowners Experience an Equity Increase of 29.3% Year-Over-Year in Q4 2021
On Thursday (3-10-22), CoreLogic® released its Homeowner Equity Report (HER) for Q4 2021. The HER shows that U.S. homeowners with mortgages experienced a year-over-year increase in equity by 29.3%. This number represents an overall equity gain of more than $3.2 trillion.
Houses Continue to Sell at a Record Pace Just as Supply Dips to a Record Low
Redfin, the Seattle-based, technology-powered real estate firm, in its latest report (3-10-22), which covers a four-week period of home buying and selling transactions ending March 6, 2022, reported that three out of five homes that went under contract for sale found a buyer within two weeks.