News in end use

The US median single-family floor area was 2,190 square feet in Q1, near the highest reading since mid-2023, the Census Bureau and NAHB reported.

US home prices dipped 0.1% in April on a seasonally adjusted basis, the first monthly decline since September 2022, Redfin reported.

The Consumer Price Index (CPI) increased 1.7% year-over-year in April, down from a 2.3% increase in March.

Sales of existing US homes fell to a seasonally adjusted annual rate of 4,196,707 in April, the lowest level since October 2024, Redfin reported.

Overall construction input prices were 0.1% higher year-over-year in April, the BLS and ABC reported.

There were 34,000 custom building starts in Q1, unchanged from 2024Q1, the Census Bureau and NAHB reported.

The Index of Consumer Sentiment declined to a reading of 50.8 in May, down from 52.2 in April. This is a month-over-month decline of 2.7% and a 26.5% decrease year-over-year.

Privately owned housing starts in April were at a seasonally adjusted annual rate of 1,361,000, a 1.6% increase from the revised March estimate of 1,339,000.

Mortgage applications for new home purchases increased 2.0% in April, MBA reported. Year-over-year, applications increased 5.3%.

Commercial and multifamily mortgage loan originations were up 42% year-over-year in Q1, MBA reported.