The NAHB/Wells Fargo Housing Market Index declined 5 points to a reading of 42, the lowest level in five months.
News in end use
Canadian Existing-Home Sales Decline Just as New Listings Surge in January
Existing-home sales activity recorded over Canadian MLS® Systems was down 3.3% in January, CREA reported.
Canadian Consumer Price Index Increases 1.9% Year-Over-Year in January
The Consumer Price Index (CPI) rose 1.9% year-over-year in January, following an increase of 1.8% in December.
Canadian Housing Starts Rise 3% in January
The total monthly seasonal adjusted annual rate of housing starts for all areas in Canada increased 3% in January to 239,739 units, CMHC reported.
Credit Availability Tightened for US Builders in Q4
Credit tightened further in Q4, according to NAHB and Federal Reserve surveys.
New US Residential Construction Input Prices Increase 1.2% in January
Prices for inputs to new residential construction—excluding capital investment, labor, and imports—were up 1.2% in January, the BLS and NAHB reported.
Investment in Canadian Building Construction Increases 1.9% in December
Investment in building construction rose 1.9% to CA$21.8 billion in December, with gains recorded across all components.
US Existing-Home Supply at 2020 High, Sales at 2020 Low
Homebuyers have the most options since 2020, but few are biting because of high monthly payments, Redfin reported.
US Mortgage Rates Inch Lower in the Week Ending February 13
The 30-year fixed-rate mortgage averaged 6.87%, down from last week when it averaged 6.89%, Freddie Mac reported.
NAHB Multifamily Market Survey Shows Mixed Results for Q4
The NAHB Multifamily Market Survey’s Multifamily Production Index (MPI) increased 7 points year-over-year to a reading of 48, still below the break-even point of 50.