News in end use

The trend in housing starts was higher in September, up 3.9% to 254,006 units from August’s 244,511 units, the Canada Mortgage and Housing Corporation reported.

Mortgage loan application volume decreased 6.9% on a seasonally adjusted basis from one week earlier, according to the Mortgage Bankers Association.

The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index fell four points to 40 in October.

The average US home buyer must earn $114,627 to afford a median-priced home, Redfin reported. That is up 15%, or $15,285, from a year ago.

In September, the Consumer Price Index (CPI) increased 3.8% on a year-over-year basis, down slightly from August’s 4.0% gain. The year-over-year deceleration was broad-based.

Home sales recorded over Canadian MLS® Systems declined 1.9% between August and September, the Canadian Real Estate Association reported.

US single-family home prices increased 5.3% year-over-year in Q3, up from Q2’s revised annual growth rate of 2.9%, according to Fannie Mae’s latest Home Price Index (FNM-HPI).

The prices of inputs into residential construction less energy (i.e., building materials) was unchanged in September (not seasonally adjusted), the NAHB and Census Bureau reported.

The National Association of Builders/Westlake Royal Remodeling Market Index for Q3 declined 3 points to a reading of 65, down from 68 in Q2.

The Index of Consumer Sentiment declined to 63.0 in October, down from 68.1 in September. This is a month-over-month decline of 7.5% but up 5.2% year-over-year.