Investment in building construction increased 4.5% month-over-month to $20.4 billion (CAD) in March.
News in end use
Single-Family Built-For-Rent Starts Expand 20% Year-Over-Year in Q1
There were approximately 18,000 single-family built-for-rent starts during Q1, 20% higher than 2023Q1, the Census Bureau and NAHB reported.
The Conference Board US Leading Economic Index Continues to Decline in April
The Conference Board Leading Economic Index® decreased by 0.6% to 101.8 (2016=100) in April, following a 0.3% decrease in March.
State-Level Analysis of Construction Sector Employment for April
28 states reported month-over-month employment gains in April, the BLS and NAHB reported.
US Housing Starts and Completions Climb in April, but Permits Decline
Privately‐owned housing starts in April were at a seasonally adjusted annual rate of 1,360,000, 5.7% above the revised March estimate of 1,287,000.
Fixed-Rate Mortgages Fall in the Week Ending May 16th—Second Consecutive Drop
The 30-year fixed-rate mortgage averaged 7.02%, down from last week when it averaged 7.09%, Freddie Mac reported.
US Mortgage Delinquency Rate Up Quarter-Over-Quarter and Year-Over-Year
The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.94% of all loans outstanding at the end of Q1, MBA reported.
US Weekly Jobless Claims Decline in the Week Ending May 11th
The advance figure for seasonally adjusted initial unemployment claims was 222,000, a decrease of 10,000 from the previous week.
Consumer Price Index Increases 0.3% in April; All-Items Index Up 3.4% Year-Over-Year
The Consumer Price Index for All Urban Consumers increased 0.3% in April on a seasonally adjusted basis, following a 0.4% increase in March.
US Builder Confidence Drops in May
The NAHB/Wells Fargo Housing Market Index showed that builder sentiment in the market for newly built single-family homes fell 6 points in May.