News in end use

The S&P CoreLogic Case-Shiller US National Home Price NSA Index reported an annual gain of 5.5% in December, up from 5.1% in November.

The Conference Board Consumer Confidence Index® declined to a reading of 106.7 in February, down from January’s revised reading of 110.9.

New residential single-family home sales in January were at a SAAR of 661,000, 1.5% above the revised December 2023 rate.

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.

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.

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.

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.

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 recorded a 3.7% month-over-month increase in January to a seasonally adjusted rate of 4.00 million homes, NAR reported.