The national vacancy rate in Q3 was 6.6% for rental housing and 0.8% for homeowner housing.
Wood Markets News
Sales of New Homes Make Up Almost a Third of All Home Sales in the US
30.6% of single-family homes for sale in Q3 were new construction, the highest share of any Q3 on record, Redfin reported.
Mortgage Rates Pause Upward Trek in the Week Ending November 2nd
30-year fixed-rate mortgage averaged 7.76%, down from last week when it averaged 7.79%, Freddie Mac reported.
Private Sector Job Cuts Decline Month-Over-Month but Increase Year-Over-Year in October
US-based employers announced 36,836 job cuts in October, down 22.0% from September, according to Challenger, Gray & Christmas, Inc.
US Weekly Jobless Claims Climb Higher in the Week Ending October 28th
The advance figure for seasonally adjusted initial unemployment claims was 217,000, an increase of 5,000 from the previous week.
US Construction Spending Increases Month-Over-Month and Year-Over-Year in September
Total construction spending during September was estimated at a seasonally adjusted annual rate (SAAR) of $1,996.5 billion, 0.4% above the revised August estimate.
Canadian Residential and Non-Residential Construction Costs Increased in Q3
In Q3, residential building construction costs increased 1.0%. Non-residential building construction costs were 0.9%.
Construction Sector Job Openings and Labor Turnover Survey Results for September
The number of open construction jobs increased from a revised reading of 375,000 in August to 431,000 in September, according to analysis by the NAHB.
Mortgage Applications Decline for Third Consecutive Week in the Week Ending October 27th
Mortgage loan application volume decreased 2.1% on a seasonally adjusted basis from one week earlier, according to the Mortgage Bankers Association.
ADP® Reports Increased Private Sector Employment and Compensation Gains in October
Nonfarm private sector employment increased by 113,000 jobs in October, and annual pay was up 5.7% year-over-year, according to ADP data.