Canadian housing starts rose 9.4% in November to a SAAR of 254,058 units, while the six-month trend declined 1.7%, CMHC reported.
News in end use
US Nonfarm Payroll Increases by 64,000 in November; Unemployment at 4.6%
US nonfarm payroll employment rose by 64,000 in November, while the unemployment rate rose to 4.6%. Construction added 28,000 jobs.
Canadian Existing-Home Sales Fall in November
Canadian existing-home sales slipped 0.6% in November as inventory held steady and the national average home price fell 2% from a year earlier, CREA said.
US Builder Confidence for Newly Built Single-Family Homes Inches Higher in December
US builder confidence in newly built single-family homes edged up to 39 in December, although sentiment remained in negative territory for a 20th straight month.
Value of Canadian Building Permits Climbs in October
The value of Canadian building permits rose 14.9% to CA$13.8 billion in October, with gains in both residential and nonresidential construction.
US Existing-Home Listings Decline as Supply Tightens
New US home listings fell 1.7% year-over-year in the four-week period ending December 7, the largest decline in more than two years, Redfin said.
Canadian Consumer Price Index Rises 2.2% Year-Over-Year in November
Canada’s CPI rose 2.2% year-over-year in November, matching October, as slower services inflation offset higher goods prices.
US Homeownership Rate Little Changed in Q3
The US homeownership rate was little changed at 65.3% in Q3 as rental vacancy held at 7.1% and homeowner vacancy rose to 1.2%.
US Apartment Vacancies Reach Record High as Rents Decline in November
US rents fell 1.0% in November as vacancy hit a record 7.2%, driven by new supply and softening demand, Apartment List and GlobeSt reported.
US Mortgage Rates Edge Higher in the Week Ending December 11
The 30-year fixed-rate mortgage averaged 6.22%, up from 6.19% last week, Freddie Mac reported.