StatCan’s New Housing Price Index (NHPI) was unchanged month-over-month in December, but prices were 0.9% lower year-over-year.
News in end use
US Homeowner Renovation and Maintenance Expenditures Expected to Weaken Through Q3
The Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University has released its quarterly Leading Indicator of Remodeling Activity (LIRA).
The Conference Board US Leading Economic Index® Declines Again in December
The Conference Board Leading Economic Index® (LEI) declined 0.1% in December to a reading of 103.1 (2016=100), following a decline of 0.5% in November.
Fannie Mae’s Economic and Strategic Research Group Releases January Commentary on the US Housing Market
According to the ESR Group, the housing market is expected to begin a gradual return to a more normal balance in 2024, following years of substantial movement.
Associated Builders and Contractors Construction Backlog Indicator Inches Higher in December
The Associated Builders and Contractors Construction Backlog Indicator increased to 8.6 months in December, up from 8.5 months in November.
US Existing-Home Sales Decline in December
Total US existing-home sales recorded a 1.0% month-over-month decrease in December to a seasonally adjusted rate of 3.78 million. Year-over-year, sales were down 6.2%.
University of Michigan Reports Preliminary Results of Its Consumer Sentiment Index for January
The University of Michigan Index of Consumer Sentiment increased 13.1% month-over-month to a reading of 78.8 in January, up from 69.7 in December.
Canadian Unemployment Up Month-Over-Month and Year-Over-Year in November
There were 460,000 Canadians receiving regular Employment Insurance benefits in November. That is 1.7%, or 7,900 persons, higher than in October.
US Housing Starts Fall in December, While Permits and Completions Climb
Privately‐owned housing starts in December were at a seasonally adjusted annual rate of 1,460,000, down 4.3% from November but 7.6% above December 2022.
Canadian Investment in Building Construction Increases in November
Canadian investment in building construction increased 1.7% in November to $19.8 billion (CAD). Investment in residential building construction rose 2.2% to $13.7 billion.