The Conference Board Leading Economic Index® (LEI) decreased 0.2% in June to a reading of 101.1, following a 0.4% decline (upwardly revised) in May.
News in end use
US Weekly Initial Jobless Claims Increase in the Week Ending July 13th
The advance figure for seasonally adjusted initial unemployment claims was 243,000, an increase of 20,000 from the previous week’s revised level.
US Housing Starts, Building Permits, and Completions All Rise in June
Privately‐owned housing starts were at a seasonally adjusted annual rate of 1,353,000 in June. This is 3.0% above the revised May estimate of 1,314,000.
Canada Unveils Country’s First Green Buildings Strategy
The CGBS will drive energy efficiency improvements in Canadians’ homes and buildings, with a key focus on addressing affordability and reducing greenhouse gas emissions.
Mortgage Applications Increase in the Week Ending July 12th
Mortgage loan application volume increased 3.9% on a seasonally adjusted basis from one week earlier, MBA reported.
US Apartment Rent Growth Trails Expectations Through Q2
RealPage’s delivery pipeline anticipates just over 629,000 apartments will be delivered in calendar 2024. However, supply is expected to drop by roughly 20% in 2025.
US Builder Confidence Drops for Third Consecutive Month in July
The NAHB/Wells Fargo Housing Market Index showed builder sentiment in the market for newly built single-family homes fell 1 point from June to a reading of 42 in July.
Additional Existing Homes For Sale Slows Home Value Appreciation
The total number of homes on the market has risen throughout the year, ticking up 4% from May to June to stand nearly 23% above last year’s low level, Zillow reported.
Canadian Housing Starts Decline in June
The Canada Mortgage and Housing Corporation (CMHC) reported that the trend in housing starts was 247,205 units in June.
Canadian Consumer Price Index Increases Slow in June
The Canadian Consumer Price Index (CPI) for June increased 2.7% year-over-year, down slightly from the 2.9% gain in May.