News in end use

US real GDP increased at an annual rate of 4.9% in Q3, up from increase of 2.1% in Q2, according to the “advance” estimate by the Bureau of Economic Analysis.

The advance figure for seasonally adjusted initial claims was 210,000 during the week ending Saturday, October 21st, an increase of 10,000 from the previous week.

New residential single-family home sales for September were at a SAAR of 759,000, according to estimates. This is 12.3% above the revised August rate of 676,000.

Mortgage loan application volume decreased 1.0% on a seasonally adjusted basis from one week earlier, the Mortgage Bankers Association reported.

The share of adults with plans to purchase a home increased to 17% in Q3, up from 15% in Q2, according to the National Association of Home Builders.

The national index for new home prices in Canada declined 0.2% month-over-month in September. Year-over-year, Canadian new home prices declined 1.0%.

Annual spending for improvements and repairs to owner-occupied homes is expected to decrease at a moderate rate over the coming year, according to the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.

New listings climbed 1.4% month-over-month in September, Redfin reported. This is the largest increase since February 2022, on a seasonally adjusted basis.

27 states reported month-over-month employment gains in September, the National Association of Home Builders reported.

Delinquency rates for mortgages backed by commercial and multifamily properties increased during Q3, according to the Mortgage Bankers Association.