New residential single-family home sales for March were at a SAAR of 724,000, 7.4% above the revised February rate.
News in end use
Mortgage Applications Decline in the Week Ending April 18
Mortgage loan application volume declined 12.7% on a seasonally adjusted basis from one week earlier, MBA reported.
Canadian Industrial Product and Raw Materials Price Indexes for March
Prices for lumber and other wood products rose 3.1% March, following two months of declines.
US Home Price Growth Slows to Lowest Monthly Rate Since December 2022
US home prices ticked up 0.2% in March on a seasonally adjusted basis, the slowest monthly pace since December 2022, Redfin reported.
Investment in Canadian Building Construction Increases 1.5% in February
Investment in building construction rose 1.5% to C$22.4 billion in February, with gains recorded across all components.
US Mortgage Loans in Forbearance Trend Lower in March
As of March 31, the total number of loans in forbearance declined 2 basis points from 0.38% of servicers’ portfolio volume in the prior month to 0.36%, MBA reported.
The Conference Board US Leading Economic Index Continues to Fall in March
The Conference Board Leading Economic Index declined 0.7% to 100.5 in March, after a revised decline of 0.2% (originally 0.3%) in February.
US Home Sellers Gave Concessions in 44% of Sales in Q1
US home sellers gave concessions to buyers in 44.4% of home-sale transactions in Q1, Redfin reported.
US Single-Family Home Price Growth Holds Steady in Q1
The Fannie Mae Home Price Index increased 5.2% year-over-year in Q1, largely unchanged from the previous quarter’s 5.3% growth.
State-Level Construction Employment Data for March
30 states added construction jobs in March compared to February, the BLS and NAHB reported. Nationally, the construction industry added a net 13,000 jobs.