News in end use

The U.S. Census Bureau and the Department of Housing and Urban Development are jointly reporting that the sales of new single-family houses in October 2020 were at a seasonally adjusted annual rate of 999,000.

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending November 20th, 2020, the Market Composite Index, a measure of mortgage loan application volume, increased 3.9% on a seasonally adjusted basis from one week earlier.

The Federal Housing Finance Agency (FHFA) announced on Tuesday (11/24) that the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2021. In most of the U.S., the 2021 maximum conforming loan limit (CLL) for single-unit properties will be $548,250, an increase from the 2020 CLL of $510,400.

Home prices jump higher due to stronger demand from buyers seeking more space due to coronavirus pandemic.

Condo owners in Canada’s largest cities like Toronto and Vancouver are ready to pack up and move to new single-family detached homes. The current interest rates are attractive and having a back yard for the kids to play would be a real bonus.

The Bloomberg Consumer Comfort Index (BCCI), which was released on Thursday (11/19) rose 1.8 points to a reading of 49.8 last week. Not only matching a mid-September reading that was strongest since early April, but also marking three straight weeks of improvement.

According to Q3 2020 data from the US Census Bureau’s Quarterly Starts and Completion by Purpose and Design report, and with analysis provided by the National Association of Home Builders (NAHB), after years of steady decline, new home sizes appear to be finally stabilizing and perhaps even growing.

After hitting a rough patch in Q1 of 2020, confidence in the multifamily housing market continued to grow in Q2 and again in Q3.