On Tuesday, S&P Dow Jones Indices released its S&P CoreLogic Case-Shiller US National Home Price NSA Index for December. Home prices experienced a 5.8% annual gain in December, down from a 7.6% annual gain in November.
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The Conference Board’s Consumer Confidence Index Declines for Second Consecutive Month in February
The Conference Board released today its Consumer Confidence Index® for February. The CCI declined to 102.9 (1985=100), down from a revised reading of 106.0 in January.
Canadian Real GDP Declines in December
Statistics Canada reported today that Canadian real GDP declined 0.1% in December, following a 0.1% increase in November. Goods-producing industries fell 0.6%, while service-producing industries remained unchanged.
Pending Homes Sales Increase for Second Consecutive Month in January
On Monday, the National Association of Realtors® reported its Pending Homes Sales Index improved 8.1% month-over-month in January to a reading of 82.5. The PHSI has now increased for two consecutive months. Year-over-year, contract signings have declined 24.1%.
Multifamily Market Continues to Experience High Demand, but Absorption Rate Declined in 2022Q3
Information from the US Census Bureau’s latest Survey of Market Absorption of New Multifamily Units, with further analysis provided by the National Association of Home Builders, reveals that the multifamily market continues experience high demand, with apartment completions reaching their highest point since 2021Q3.
Mortgage Payments Increase in January, Following Two Months of Declines
The Mortgage Bankers Association reported on Thursday that according to its Purchase Applications Payment Index (PAPI), homebuyer affordability declined in January, as the national median payment applied for by applicants increased 2.3% to $1,964 from $1,920 in December 2022.
New Residential Single-Family Home Sales Rise in January
On Friday, the US Census Bureau and the Department of Housing and Urban Development jointly announced that new residential single-family home sales for January were at a SAAR of 670,000, according to estimates. This is 7.2% above the revised December rate of 625,000.
Housing Market’s Recovery Slowed by Low Inventory and High Prices in January
In a new report, Redfin said that pending home sales activity, through Redfin agents, rose 0.5% on a seasonally adjusted basis from a month earlier in January. That compares with December’s revised month-over-month increase of 1.4%, which marked the first gain in 14 months.
Personal Income, Disposable Income, and Personal Consumption Expenditures All Up in January
The US Bureau of Economic Analysis reported on Friday that according to its estimates, personal income (PI) increased 0.6% in January; disposable personal income (DPI) increased 2.0%; and personal consumption expenditures (PCE) increased1.8%.
University of Michigan Reports Final Results of Its Consumer Sentiment Index for February
The University of Michigan on Friday released the final results of its Consumer Sentiment Index for February. The Index of Consumer Sentiment rose to a reading of 67.0 in February, up from 64.9 in January. This is a month-over-month increase of 3.2%.