The Canadian Real Estate Association (CREA) is reporting that home sales in Canada dropped -0.7%, on a seasonally adjusted basis in October. This after reaching a new monthly sales record in September.
News in end use
The Share of Mortgage Loans in Forbearance Decline to 5.47% in Weekending November 8th, 2020
The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports the total number of loans now in forbearance decreased for the 11th straight week in a row from 5.67% of servicers’ portfolio volume in the prior week to 5.47% as of November 8, 2020 – a 20-basis-point improvement.
Builder Confidence in Newly-Built Single-Family Homes Sets Another Record at 90 in November
The National Association of Home Builders (NAHB) /Wells Fargo Housing Market Index (HMI) indicates that builder confidence in the market for newly-built single-family homes advanced 5-points in November, to set another new all-time high reading of 90.
Mortgage Credit Availability Improves in October but Still Remains at Constrained Levels Last Scene in 2014
According to the Mortgage Bankers Association (MBA) Mortgage Credit Availability Index (MCAI) mortgage credit availability eased in October. The MCAI analyzes data from Ellie Mae’s AllRegs® Market Clarity® business information tool.
Total Single-Family Permits Issued up 10.2% in the First Nine Months of 2020
Total single-family permits issued over the first nine months of 2020 nationwide has reached 713,286.
Despite Drop in Softwood Lumber Prices – Overall Construction Materials Cost Increased in October
A deeper look into the U.S. Bureau of Labor Statistics (BLS) October 2020 Consumer Price Index, with a focus specifically on construction materials and with further analysis provided by Yield Pro, reveals that construction materials were up 0.2% from September, seasonally adjusted, and up year-over-year by 4.8%.
Producer Price Index for Final Demand Products Increased 0.3% in October
The Bureau of Labor Statistics (BLS) reported on Friday (11/13) that the Producer Price Index (PPI) for final demand increased 0.3% in October, seasonally adjusted
National Association of Realtors® Reports Metro Home Prices Increased in All Areas in Q3 2020
The National Association of Realtors® (NAR) is reporting in their latest quarterly report that due in large part to record-low mortgage rates and depleted nationwide housing inventory, median single-family home prices grew year-over-year in all 181-metropolitan statistical areas tracked by NAR, as every measured market showed sales price gains.
Builders Report that in Q3 Credit Remained Tight and was More Expensive
According to the latest from the latest National Association of Home Builders survey on financing for Acquisitions, Development and Construction (AD&C) while lenders continued to report tightening credit in Q3, borrowers reported little change in credit availability.
Foreclosures Increase in October, Despite Ongoing Moratorium
ATTOM Data Solutions, a multi-sourced national property database, is reporting that despite a moratorium on foreclosures, in October, 6,042 U.S. properties were in the early phase of the foreclosure process. That is number is up 21% from September but remain -79% below the October 2019 level.