Total investment in building construction decreased 0.5% to $21.4 billion (CAD) in November, following a 1.1% decline in October.
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US Pending Home Sales Declined in December, Redfin Reports
Pending home sales fell 4.5% in December on a seasonally adjusted basis, the largest decline since October 2022, Redfin reported.
US Nonresidential Construction Input Costs Decline 0.2% in December
Nonresidential construction input prices decreased 0.2% in December, the BLS and ABC reported.
US Housing Starts Rise in December, While Permits and Completions Decline
Privately‐owned housing starts in December were at a seasonally adjusted annual rate of 1,499,000, 15.8% above the revised November estimate.
Canadian Housing Starts Decline 13% in December
Housing starts for all areas in Canada decreased 13% in December (231,468 units, SAAR), CMHC reported.
Mortgage Applications for New US Home Purchases Decline 3% in December
Mortgage applications for new-home purchases declined 3%, unadjusted, in December, MBA reported.
US Builder Confidence Inches Higher in January
Builder sentiment in the market for newly built single-family homes rose in January, according to the NAHB/Wells Fargo Housing Market Index.
US Remodeler Sentiment Trends Higher in Q4
The NAHB/Westlake Royal Remodeling Market Index posted a reading of 68 in Q4, a 5-point gain from the previous quarter.
US 30-Year Mortgage Rates Surpass 7% for the First Time Since May 2024
The 30-year fixed-rate mortgage averaged 7.04%, up from last week when it averaged 6.93%, Freddie Mac reported.
US Multifamily Markets End 2024 With Lower Asking Rents
Advertised asking rents declined $4 to $1,742 in December, Yardi reported. Year-over-year, growth slowed to 0.6%, the 16th consecutive month with increases below 1%.