The median US asking rent fell 0.6% year-over-year to $1,610 in March but rose 0.4% month-over-month, Redfin reported.
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US Remodeling Market Sentiment Declines in Q1
The NAHB/Westlake Royal Remodeling Market Index declined 5 points to 63 in Q1.
US Building Materials Price Growth Slows in March
Prices for inputs to new residential construction—excluding capital investment, labor, and imports—were up 0.6% in March, the BLS and NAHB reported.
US Producer Price Index for Final Demand Rises 2.7% Year-Over-Year in March
The seasonally adjusted Producer Price Index (PPI) for final demand fell 0.4% month-over-month in March.
University of Michigan Releases the Preliminary Results of Its Consumer Sentiment Index for April
The University of Michigan Index of Consumer Sentiment declined to 50.8 in April, a month-over-month decline of 10.9% and year-over-year decline of 34.2%.
Value of Canadian Building Permits Increases 2.9% in February
The total value of building permits issued in Canada rose 2.9% to $13.1 billion in February. Residential construction intentions declined 2.9%.
US 30-Year Mortgage Rate Remains Below 7% for 12th Consecutive Week
The 30-year fixed-rate mortgage averaged 6.62%, down from last week when it averaged 6.64%, Freddie Mac reported.
Affordability Gap Between Homeownership and Renting Continues to Grow
Americans need to earn $116,633 to afford a median-price home, 81.8% more than the $64,160 needed to afford the typical apartment for rent, Redfin reported.
US Consumer Price Index Cools in March
Over the past 12 months, the all-items index rose 2.4% before seasonal adjustment.
US Weekly Initial Jobless Claims Inch Higher in the Week Ending April 5
The advance figure for seasonally adjusted initial unemployment claims was 223,000, an increase of 4,000 from the previous week’s unrevised total.