Home sales activity recorded over Canadian MLS® Systems declined 0.6% between April and May, CREA reported. Home prices moved sideways.
News in end use
US Existing-Home Sales Decline in May as Home Prices Continue to Climb
US existing-home sales fell 1.7% month-over-month and 2.9% year-over-year on a seasonally adjusted basis, Redfin reported.
US Residential Building Materials Prices Little Changed in May
Inputs to residential construction, goods less food and energy, declined 0.09% in May, the BLS and NAHB reported.
Associated Builders and Contractors Construction Backlog Indicator Declines in May
The ABC Construction Backlog Indicator declined to 8.3 months in May. Year-over-year, the indicator is down 0.6 months.
University of Michigan Reports Preliminary Results of Its Consumer Sentiment Index for June
The University of Michigan’s Index of Consumer Sentiment declined to a reading of 65.6 in June. This is a month-over-month decline of 5.1% but up 2.2% year-over-year.
Fixed-Rate Mortgages Decline Further in the Week Ending June 13th
The 30-year fixed-rate mortgage averaged 6.95%, down from last week when it averaged 6.99%, Freddie Mac reported.
Mortgage Applications for New-Home Purchases Trend Higher in May
Mortgage applications for new-home purchases increased 1.0% month-over-month and 13.8% year-over-year, MBA reported.
US Producer Price Index for Final Demand Declines 0.2% Month-Over-Month in May
The Producer Price Index (PPI) for final demand, seasonally adjusted, declined 0.2% in May. This follows a 0.5% increase in April and a 0.1% decline in March.
US Weekly Jobless Claims Move Higher in the Week Ending June 8th
The advance figure for seasonally adjusted initial unemployment claims was 242,000, an increase of 13,000 from the previous week.
Consumer Price Index Unchanged in May; All-Item Index Up 3.3% Year-Over-Year
The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in May on a seasonally adjusted basis, following a 0.3% increase in April and 0.4% increases in both March and February.