News in end use

Mortgage loan application volume declined 10.1% on a seasonally adjusted basis from one week earlier, MBA reported.

The Redfin Home Price Index ticked up 0.2% for the second consecutive month in July, on a seasonally adjusted basis. On a year-over-year basis, home prices rose 6.8%.

The national index edged up 0.2% month-over-month in July. Year-over-year, the index increased 0.1% July.

There were approximately 23,000 SFBFR starts during Q2, almost 10% higher than 2023Q2, the Census Bureau and NAHB reported. Over the last four quarters, 83,000 such homes began construction.

The CPI increased 2.5% year-over-year in July. The increase was at the slowest pace since March 2021 and was down from a 2.7% gain in June.

Investment in building construction grew 2.8% to $21.4 billion (CAD) in June, following a modest increase of 0.8% in May.

The Conference Board Leading Economic Index® fell by 0.6% in July to a reading of 100.4 (2016=100), following a decline of 0.2% in June.

Single-family attached starts totaled 42,000 in Q2, 8% higher than 2023Q2, the Census Bureau and NAHB reported.

Housing starts in July were at a seasonally adjusted annual rate of 1,238,000, 6.8% below the revised June rate.

The total monthly seasonally adjusted annual rate of housing starts for all areas in Canada increased 16% in July to 279,509 units, MBA reported.