The FHFA House Price Index rose 6.6% between 2023Q1 and 2024Q1. Prices were up 1.1% compared to 2023Q4.
News in end use
Canadian Industrial Product and Raw Materials Price Indexes for April
Lumber and other wood products had the largest downward impact on the IPPI’s month-over-month movement in April, falling 1.3%.
BC Moves to Streamline and Standardize the Local Building Permit Process
BC announced a new digital Building Permit Hub to help streamline the permitting process and to get more homes built faster.
Dodge Construction Network Reports Construction Starts Rose 6% in April
Dodge Construction Network reports that total construction starts rose 6% in April to a seasonally adjusted annual rate of $1.13 trillion.
US Apartment Investment Continues to Drop in Q1
According to MSCI Real Capital Analytics, nearly 1,040 apartment properties changed hands at a value of $20.6 billion in Q1.
US Median Home-Sale Price Hits New High in Four-Week Period Ending May 19th
During the four-week period ending May 19th, the median US home-sale price hit a record $387,600, Redfin reported.
NAHB/Wells Fargo Debut New Cost of Housing Index for Q1
The CHI reveals that a typical family must spend 38% of its income to cover the mortgage payment on a median priced new single-family home.
University of Michigan Reports Final Results of Its Consumer Sentiment Index for May
The University of Michigan Index of Consumer Sentiment declined to 69.1 in May, a month-over-month decline of 10.5% but up 17.1% year-over-year.
US New Residential Single-Family Home Sales Decline in April
New residential single-family home sales for April were at a SAAR of 634,000, 4.7% below the revised March rate.
30-Year Mortgage Rate Drops Below 7% in the Week Ending May 23rd
The 30-year fixed-rate mortgage averaged 6.94%, down from last week when it averaged 7.02%, Freddie Mac reported.