US home prices rose 0.6% month-over-month in January on a seasonally adjusted basis, a tick faster than the 0.5% growth in each of the three months prior, Redfin reported.
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US Mortgage Applications Decline in the Week Ending February 14
Mortgage loan application volume decreased 6.6% on a seasonally adjusted basis from one week earlier, MBA reported.
US Builder Confidence Drops to Five-Month Low in February
The NAHB/Wells Fargo Housing Market Index declined 5 points to a reading of 42, the lowest level in five months.
Canadian Existing-Home Sales Decline Just as New Listings Surge in January
Existing-home sales activity recorded over Canadian MLS® Systems was down 3.3% in January, CREA reported.
Canadian Consumer Price Index Increases 1.9% Year-Over-Year in January
The Consumer Price Index (CPI) rose 1.9% year-over-year in January, following an increase of 1.8% in December.
Canadian Housing Starts Rise 3% in January
The total monthly seasonal adjusted annual rate of housing starts for all areas in Canada increased 3% in January to 239,739 units, CMHC reported.
Credit Availability Tightened for US Builders in Q4
Credit tightened further in Q4, according to NAHB and Federal Reserve surveys.
New US Residential Construction Input Prices Increase 1.2% in January
Prices for inputs to new residential construction—excluding capital investment, labor, and imports—were up 1.2% in January, the BLS and NAHB reported.
Investment in Canadian Building Construction Increases 1.9% in December
Investment in building construction rose 1.9% to CA$21.8 billion in December, with gains recorded across all components.
US Existing-Home Supply at 2020 High, Sales at 2020 Low
Homebuyers have the most options since 2020, but few are biting because of high monthly payments, Redfin reported.