New residential single-family home sales in January were at a SAAR of 661,000, 1.5% above the revised December 2023 rate.
News in end use
Labor Shortages in New US Home Building Lessen but Remain Above Housing Boom of 2004–06
With home building volumes lower, labor shortages have eased significantly since the record level set in 2021, according to the latest NAHB/Wells Fargo Housing Market Index.
Fannie Mae’s Economic and Strategic Research Group Releases Its February Commentary
The ESR Group expects existing-home sales and new single-family housing starts to modestly grow in 2024 amid lower mortgage rates and slowly strengthening homebuyer sentiment.
Increase in New Listings of Existing-Homes For Sale Offset by Higher Mortgage Rates
For the four-week period ending on February 18th, new home listings rose 10% year-over-year—the biggest increase in two months, Redfin reported.
Confidence in the Market for New Multifamily Housing Falls Into Negative Territory in 2023Q4
The National Association of Home Builders Multifamily Market Survey’s Multifamily Production Index was at reading of 41 in 2023Q4—below the break-even point of 50.
Colorado Providing Loans to Eight Modular Home Manufacturers to Boost Innovative Housing
Colorado announced funding to support the growth of eight modular housing manufacturers, projected to create 4,755 housing units per year.
Canadian Govt. Boosts BC’s Housing Plan With Infusion of $2 Billion in Federal Financing
Ottawa is adding $2 billion (CAD) in financing to the BC Build initiative aimed at fast-tracking the construction of middle-income rental housing, The Canadian Press News reported.
US Existing-Home Sales Increase Month-Over-Month but Decline Year-Over-Year in January
US existing-home sales recorded a 3.7% month-over-month increase in January to a seasonally adjusted rate of 4.00 million homes, NAR reported.
Fixed-Rate Mortgages Trek Higher in the Week Ending February 22nd
The 30-year fixed-rate mortgage averaged 6.90%, up from last week when it averaged 6.77%, Freddie Mac reported.
US Weekly Jobless Claims Move Lower in the Week Ending February 17th
The advance figure for seasonally adjusted initial unemployment claims was 201,000, a decrease of 12,000 from the previous week.