There were 34,000 custom building starts in Q1, unchanged from 2024Q1, the Census Bureau and NAHB reported.
News in end use
University of Michigan Releases Preliminary Results of Its Consumer Sentiment Index for May
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.
US Housing Starts Rise in April; Permits and Completions Fall
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.
New US Home Purchase Mortgage Applications Increase 2.0% in April
Mortgage applications for new home purchases increased 2.0% in April, MBA reported. Year-over-year, applications increased 5.3%.
US Commercial/Multifamily Borrowing Rises 42% Year-Over-Year in Q1
Commercial and multifamily mortgage loan originations were up 42% year-over-year in Q1, MBA reported.
Canadian Housing Starts Soar in April
Housing starts across all areas in Canada rose 30% in April to 278,606 units (SAAR), up from 214,205 in March, CREA reported.
US Builder Confidence for Newly Built Single-Family Homes Drops in May
The NAHB/Wells Fargo Housing Market Index reported that builder sentiment in the market for newly built single-family homes declined six points to a reading of 34 in May.
US Producer Price Index for Final Demand Rises 2.4% Year-Over-Year in April
The Producer Price Index (PPI) for final demand, seasonally adjusted, decreased 0.5% in April. Unadjusted, the index for final demand rose 2.4% year-over-year.
US Mortgage Rates Edge Higher in the Week Ending May 15
The 30-year fixed-rate mortgage averaged 6.81%, up from last week when it averaged 6.76%, Freddie Mac reported.
Canadian Existing-Home Sales Steady in April, Ending Three-Month Slide
This marks a pause in the trend of declining activity since the beginning of the year, CREA reported. The National Composite MLS Home Price Index declined 1.2%.