According to the JOLTS report, as of the last business day in March the number of job openings was 8.5 million, little changed from the 8.8 million reported in February. The job opening rate was 5.1% down from the 5.3% reported in February.
News in end use
U.S. Monthly Construction Spending Declines Month-Over-Month but Up Year-Over-Year in March
On Wednesday (5-1-24), The U.S. Census Bureau reported that total construction spending during March 2024 was estimated at a seasonally adjusted annual rate (SAAR) of $2,083.9 billion, 0.2% below the revised February estimate of $2,087.8 billion.
U.S. Census Bureau’s Residential Vacancies & Home Ownership Report for Q1 2024
According to the report national vacancy rates in Q1 2024 were 6.6% for rental housing and 0.8% for homeowner housing. The rental vacancy rate was not statistically different from the rate in Q1 2023 when it was at 6.4%, and virtually the same as the rate in the Q4 2023 reported as 6.6%.
U.S. Consumer Confidence Index Trends Lower for the Third Consecutive Month in April 2024
The Conference Board, a non-partisan, not-for-profit think tank, founded in 1916, on Tuesday (4-30-24), released its Consumer Confidence Index® (CCI) for April 2024. The CCI Index declined in April for the third consecutive month, falling to a reading of 97.0 from a downwardly revised March reading of 103.1.
S&P CoreLogic Case-Shiller Reports a 6.4% Gain in February 2024
On Tuesday (4-30-2024), S&P CoreLogic Case-Shiller released its U.S. National Home Price NSA Index for February 2024. The Index which covers all nine U.S. Census divisions, revealed that 18 out of the 20 major metro markets reported month-over-month (Jan. 24 – Feb. 24) price increases.
FHFA’s House Price Index Increases for February 2024
The Federal Housing Finance Agency (FHFA) reported on Tuesday (4-30-24), its House Price Index (FHFA HPI®) for February 2024. According to the HPI, U.S. home prices increased 1.2% from January. Year-over-year (Feb.23 – Feb. 24) U.S. house prices increased 7.0%.
Canadian Gross Domestic Product Increased in February 2024
Statistics Canada (StatCan) reported on Tuesday (4-30-24), that Canadian real gross domestic product (GDP) increased 0.2% in February, following a 0.5% gain in January. Overall, 12 of the 20 sectors reported increases in February.
NAHB Releases Updated 2024 Priced Out Estimates for New-Home Buyers
The new NAHB estimates show that affordable housing is a serious problem even before any further price or interest rate increases.
US Median Existing-Home Sales Price Up 5.2% Year-Over-Year in April; Hits Record High
Redfin reported that in the four-week period ending April 21st, the median existing-home sales price hit a record $383,725, up 5.2% from a year earlier.
Mortgage Application Payments Inch Higher in March
The MBA’s Purchase Applications Payment Index rose 0.8% to a reading of 174.2 in March, up from February’s reading of 172.8.