News in end use

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.

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 loan application volume increased 3.9% on a seasonally adjusted basis from one week earlier, MBA reported.

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.

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.

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.

The Canada Mortgage and Housing Corporation (CMHC) reported that the trend in housing starts was 247,205 units 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.

A US homebuyer on a $3,000 monthly budget can afford a $447,750 home with a 6.85% mortgage rate, the daily average as of July 11th, Redfin reported.

72.4% of new single-family homes started in 2023 were built on slab foundations, 16.6% were built with full or partial basements, and 9.9% with crawl spaces, according to the Census Bureau and NAHB.