News in end use

The National Association of Home Builders (NAHB) reported that the total outstanding acquisition, development, and construction (AD&C) loan volume declined in Q3.

Mortgage loan application volume increased 0.3% on a seasonally adjusted basis from one week earlier, according to the Mortgage Bankers Association.

According to the BEA’s “second” estimate for Q3, GDP increased at an annual rate of 5.2%. This follows a reported real GDP increase of 2.1% in Q2.

The US Federal Housing Finance Agency (FHFA) announced the conforming loan limit values (CLLs) for mortgages Fannie Mae and Freddie Mac will acquire in 2024.

The Federal Housing Finance Agency House Price Index increased 5.5% between 2022Q3 and 2023Q3. House prices were up 2.1% when compared to 2023Q2.

Of the 99,290 unfurnished, unsubsidized apartments completed in Q2, 65% were absorbed into the market in the first three months following completion, according to US Census Bureau data review by the NAHB.

The S&P CoreLogic Case-Shiller US National Home Price NSA Index saw an annual gain of 3.9% in September, up from an annual gain of 2.5% posted in August.

The Conference Board Consumer Confidence Index® rose to a reading of 102.0 in November, up from a downwardly revised October reading of 99.1.

New residential single-family home sales for October were at a SAAR of 679,000, 5.6% below the revised September rate of 719,000.

There were 104,000 multifamily construction starts in Q3, of which 101,000 units were built-for-rent, according to the Census Bureau and NAHB.