ABC’s Construction Backlog Indicator fell 0.2 months to 8.4 months in October. The reading is unchanged from October 2023.
News in end use
US Consumer Price Index Increases 2.6% Year-Over-Year in October
Over the past 12 months, the all-items index has increased 2.6% before seasonal adjustment.
Mortgage Applications Increase 0.5% in the Week Ending November 8th
Mortgage loan application volume increased 0.5% on a seasonally adjusted basis from one week earlier, MBA reported.
US Consumer Debt Increases to $5.10 Trillion in Q3
Total outstanding US consumer debt stood at $5.10 trillion for Q3, increasing at a seasonally adjusted annualized rate of 3.28%, the Fed and NAHB reported.
Value of Canadian Building Permits Increases 11.5% in September
The total value of building permits in Canada increased $1.3 billion (CAD), or 11.5%, to $13.0 billion in September.
US Median Asking Rent Rises 0.2% Year-Over-Year in October
The median US asking rent barely moved in October, nudging up 0.2% year-over-year to $1,619, Redfin reported.
NFIB Small Business Optimism Index Trends Higher in October
The NFIB Small Business Optimism Index increased 2.2 points to a reading of 93.7 in October.
Canadian Government Turns to Mass Timber, 3D Printing, and Modular Construction to Speed Affordable Housing
Canada is turning to mass timber, 3D printing, and modular construction to fast-track affordable housing on its Atlantic coast, Wood Central reported.
Fannie Mae Home Purchase Sentiment Index Rises in October
The Fannie Mae Home Purchase Sentiment Index increased 0.7 points in October to a reading of 74.6, pushing the measure to its highest level since February 2022.
University of Michigan Reports the Preliminary Results of Its Consumer Sentiment Index for November
The Index of Consumer Sentiment increased to a reading of 73.0 in November, up 3.5% from October and up 19.1% year-over-year, the University of Michigan reported.