Fannie Mae’s Home Purchase Sentiment Index® rose 3.5 points in January to a reading of 70.7. Year-over-year, the full HPSI is up 9.1 points.
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Mortgage Applications Increase in the Week Ending February 2nd
Mortgage loan application volume increased 3.7% on a seasonally adjusted basis from one week earlier, MBA reported.
32% of Single-Family Homes for Sale in 2023Q4 Were New Construction
In Q4, 31.8% of all US single-family homes for sale were new construction, Redfin reported. That is that comparable with 31.9% in 2022Q4, the highest level of any Q4 on record.
Canadian Building Permits Data for December, 2023Q4, and 2023
The total value of building permits in Canada declined 14.0% from November to $9.2 billion (CAD) in December.
US Asking Rents Decline for Sixth Consecutive Month in January
The US rental market logged its sixth consecutive month of negative growth with the nationwide median rent falling 0.3%, in February, Apartment List reported.
Residential and Nonresidential Construction Employment Continues to Grow in January
Overall employment in the construction sector increased by 11,000 positions in January, NAHB analysis shows.
US Nonfarm Payroll Increases by 353,000 in January 2024; Unemployment Steady at 3.7%
Total US nonfarm payroll employment increased by 353,000 in January, similar to the revised gain of 333,000 in December. The unemployment rate held steady at 3.7%.
University of Michigan Reports Final Results of Its Consumer Sentiment Index for January
The University of Michigan’s Index of Consumer Sentiment increased 13.3% month-over-month to a reading of 79.0 in January, up from 69.7 in December.
US Monthly Construction Spending Climbs Month-Over-Month and Year-Over-Year in December
Total construction spending during December was estimated at SAAR of $2,096.0 billion, 0.9% above the revised November estimate of $2,078.3 billion.
Canadian Residential and Nonresidential Building Construction Costs Increase in 2023Q4
Residential building construction costs increased 0.9% in Q4, following a 1.2% increase in Q3. Nonresidential costs increased 0.7% in Q4, following a 1.3% increase in Q3.