The NAHB/Wells Fargo Housing Market Index increased 2 points to a reading of 42 in September.
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Canadian Consumer Price Index Increases 2.0% Year-Over-Year in August
The Canadian Consumer Price Index (CPI) increased 2.0% year-over-year in August. This the slowest pace since February 2021.
Canadian Home Sales Trend Higher in August
Home sales increased 1.3% month-over-month in August to the highest level since January and the second highest level in over a year, CREA reported.
Average Time to Complete a Multifamily Building in 2023 Increased to 19.9 Months
The average length of time to complete construction of a multifamily building after obtaining authorization was 19.9 months in 2023, the Census Bureau and NAHB reported.
Lower Mortgage Rates and Increasing Inventory Give Would Be Home Buyers a Window of Opportunity
Lower mortgage rates and rising inventory are giving home buyers a window of opportunity at an unusual time of year, Zillow reported.
University of Michigan Reports Preliminary Results of Its Consumer Sentiment Index for September
The Index of Consumer Sentiment rose to a reading of 69.0 in September, up from 67.9 in August. This is a month-over-month increase of 1.6% and up 1.8% year-over-year.
Modular and Off-Site Built Homes See Modest Increase in Market Share in 2023
The total market share of non-site built single-family homes (modular and panelized) was just 3% of single-family homes built in 2023, the Census Bureau and NAHB reported.
US 30-Year Mortgage Rate Hits Lowest Level Since February 2023
The 30-year fixed-rate mortgage averaged 6.20%, down from last week when it averaged 6.35%, Freddie Mac reported.
Value of Canadian Building Permits Soars 22.1% in July
The total value of building permits in Canada soared 22.1% month-over-month to $12.4 billion (CAD) in July. This follows two consecutive months of declines.
US Monthly Housing Payments Retreat to Early-2024 Levels
During the four-week period ending on September 8th, the median US monthly housing payment was $2,558—down nearly to where it was at the start of the year—Redfin reported.