An amendment to the Ontario building code permitting encapsulated mass timber construction up to 18 stories, an increase from the previous limit of 12, took effect on January 1, Storeys reported.
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Nonresidential Construction Spending Declines 0.1% in November
Nonresidential construction spending declined 0.1% in November, the Census Bureau and ABC reported. On a seasonally adjusted annual basis, spending reached $1.234 trillion.
S&P CoreLogic Case-Shiller Index Reports 3.6% Annual Gain in US Home Prices in October
The S&P CoreLogic Case-Shiller US National Home Price NSA Index posted an annual gain of 3.6% in October, down from a 3.9% increase in September.
US Construction Spending Unchanged in November
Total construction spending during November was estimated at $2,152.6 billion (SAAR), virtually unchanged from the revised October estimate of $2,152.3 billion.
Canadian Industrial Product and Raw Materials Price Indices for November
Prices for lumber and other wood products jumped 5.7%, marking the largest monthly increase since March 2022 (7.5%).
FHFA House Price Index Increases 4.5% Year-Over-Year in October
US house prices rose 0.4% in October, according to the FHFA’s seasonally adjusted House Price Index. Year-over-year, prices increased 4.5%.
US Mortgage Applications Drop During The Two-Week Period Ending December 27
Mortgage loan application volume declined 21.9% on a seasonally adjusted basis from two weeks earlier, MBA reported.
US Mortgage Rates Increase in the Week Ending January 2
The 30-year fixed-rate mortgage averaged 6.91%, up from last week when it averaged 6.85%, Freddie Mac reported.
US Weekly Initial Jobless Claims Decline in the Week Ending December 28
The advance figure for seasonally adjusted initial unemployment claims was 211,000, a decrease of 9,000 from the previous week’s revised level.
US Housing Supply Hits Four-Year High in November
Redfin reported that active listings—the total number of homes for sale—reached their highest level since 2020 in November.