News in end use

The typical home is selling for 1.8% less than its asking price, the biggest discount in nearly two years, Redfin reported.

The total value of building permits rose 11.0% to $13.1 billion (CAD) in December. On a constant dollar basis (2017=100), the value of building permits issued grew 8.8%.

The MBA Mortgage Credit Availability Index rose 2.5% in January to a reading of 99.0.

The NFIB Small Business Optimism Index declined 2.3 points to a reading of 102.8 in January. Even with the decline, this marks the third consecutive month above the 51-year average of 98.

The rental vacancy rate of 6.9% was not statistically different from Q3 (6.9%). The homeowner vacancy rate of 1.1% was not statistically different Q3 (1.0%).

New listings of US homes for sale rose 7.9% year-over-year during the four weeks ending February 2, the biggest increase since the end of last year, Redfin reported.

Not seasonally adjusted, the US construction unemployment rate was 5.2% in December, up 0.8% year-over-year, ABC reported.

The Fannie Mae Home Purchasing Sentiment Index increased 0.3 points to a reading of 73.4 in January, recovering slightly after falling in December for the first time since July.

Overall employment in the construction sector increased by 4,000 in January, down from a 13,000 increase in December, the BLS and NAHB reported.

Nonfarm payroll employment increased by 143,000 in January. The unemployment rate edged down to 4.0%, reflecting annual adjustments to population controls.