New analysis from Zillow released on Tuesday shows that, despite a construction boom brought on by the pandemic, the US housing shortage grew to 4.5 million homes in 2022, up from 4.3 million in 2021.
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US Builder Confidence Drops for Second Consecutive Month in June
The NAHB/Wells Fargo Housing Market Index reported that builder sentiment in the market for newly built single-family homes fell 2 points from May to a reading of 43 in June.
US Existing-Home Prices Increase at a Slower Monthly Pace in May
US existing-home prices rose 0.3% month-over-month in May—the smallest increase on a seasonally adjusted basis since January 2023—Redfin reported.
US Commercial/Multifamily Mortgage Debt Outstanding Increases to $40.1 Billion in Q1
The level of commercial/multifamily debt outstanding increased 0.9% to $40.1 billion in Q1, MBA reported.
Canadian Job Vacancies Decline in Q1
Job vacancies declined 3.6%, or 24,300, to 648,600 in Q1. This marks the seventh consecutive quarterly decline.
Canadian Housing Starts Rise in May
The standalone SAAR of total housing starts for all areas in Canada in May was 264,506 units—a month-over-month increase of 10%—CMHC reported.
Investment in Canadian Building Construction Declines in April
Investment in building construction decreased 2.0% month-over-month to $20.5 billion (CAD) in April.
Canadian Existing-Home Sales Trend Lower in May
Home sales activity recorded over Canadian MLS® Systems declined 0.6% between April and May, CREA reported. Home prices moved sideways.
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.