Housing starts in Canada declined 3.3% in March to 214,155 units (SAAR), CMHC reported.
News in end use
Canadian Housing Demand and Home Prices Continue to Trend Lower in March
Sales activity sank 4.8% in March, CREA reported. Home sales are now down 20% from their recent high recorded last November.
Canadian Consumer Price Index Moderates in March
The all-items CPI increased 2.3% year-over-year in March, down from a 2.6% increase in February.
US Median Asking Rent Trends Lower Year-Over-Year in March
The median US asking rent fell 0.6% year-over-year to $1,610 in March but rose 0.4% month-over-month, Redfin reported.
US Remodeling Market Sentiment Declines in Q1
The NAHB/Westlake Royal Remodeling Market Index declined 5 points to 63 in Q1.
US Building Materials Price Growth Slows in March
Prices for inputs to new residential construction—excluding capital investment, labor, and imports—were up 0.6% in March, the BLS and NAHB reported.
US Producer Price Index for Final Demand Rises 2.7% Year-Over-Year in March
The seasonally adjusted Producer Price Index (PPI) for final demand fell 0.4% month-over-month in March.
University of Michigan Releases the Preliminary Results of Its Consumer Sentiment Index for April
The University of Michigan Index of Consumer Sentiment declined to 50.8 in April, a month-over-month decline of 10.9% and year-over-year decline of 34.2%.
Value of Canadian Building Permits Increases 2.9% in February
The total value of building permits issued in Canada rose 2.9% to $13.1 billion in February. Residential construction intentions declined 2.9%.
US 30-Year Mortgage Rate Remains Below 7% for 12th Consecutive Week
The 30-year fixed-rate mortgage averaged 6.62%, down from last week when it averaged 6.64%, Freddie Mac reported.