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New Mortgage applications ease downward
Mortgage applications decreased 0.2% from a week earlier, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending September 26. The refinance component of the index decreased 0.3% from the previous week. The seasonally adjusted purchase index remained unchanged from a week earlier. The unadjusted purchase index decreased 1% compared with the previous week and was 11% lower than the same week a year ago. For more, click here...

Pending home sales fall slightly in August
Pending home sales slowed modestly in August but contract signings remain at their second-highest level over the past year, according to the National Association of Realtors. All major regions experienced declines except for the West, which rose for a fourth consecutive month. The Pending Home Sales Index, a forward-looking indicator based on contract signings, fell 1.0% in August to a reading of 104.7. The index is now 2.2% below its level of August 2013. Despite the slight decline, the index is above 100 -- considered an average level of activity -- for a fourth consecutive month, and it's at its second-highest level since last August. For more, click here...

August new home sales at six-year high
U.S. sales of new, single-family houses in August were at a seasonally adjusted annual rate of 504,000 units, 18.0% above the revised July rate and 33% higher than the August 2013 estimate, according to the Census Bureau and the Department of Housing and Urban Development. The August rate was the highest since 2008. The median sales price of new houses sold in August was $275,600. The seasonally adjusted estimate of new houses for sale at the end of August was 203,000, representing a supply of 4.8 months at the current sales rate. "This robust level of new home sales activity is a good sign that the housing recovery is moving toward higher ground," said David Crowe, chief economist for the National Association of Home Builders. For more, click here... or click here...

Existing home sales eased lower in August
Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums, and co-ops, slipped 1.8% to a seasonally adjusted annual rate of 5.05 million in August from a slight downwardly-revised 5.14 million in July. Sales are at the second-highest pace of 2014, but remain 5.3% below the 5.33 million-unit level from last August, which was also the second-highest sales level of 2013. The median existing home price for all housing types in August was $219,800, which is 4.8% higher than the August 2013 median. This marks the 30th consecutive month of year-over-year gains. Total housing inventory at the end of August declined 1.7% to 2.31 million existing homes for sales, representing a 5.5-month supply at the current sales pace. For more, click here...

August housing starts post drop
U.S. housing starts were at a seasonally adjusted annual rate of 956,000 units in August, 14.4% below the revised July estimate but 8.0% higher than the August 2013 rate, according to the Census Bureau and the Department of Housing and Urban Development. Single-family starts in August were at a SAAR of 643,000 units, 2.4% below the revised July figure. Housing units authorized by permits in August were at a SAAR of 998,000 units, 5.6% below the revised July rate but 5.3% higher than the August 2013 estimate. For more, click here...

Builder confidence hits highest level since November 2005
Builder confidence in the market for newly built, single-family homes rose for a fourth consecutive month in September to a level of 59 on the National Association of Home Builders/Wells Fargo Housing Market Index. This latest 4-point gain brings the index to its highest reading since November of 2005. "Since early summer, builders in many markets across the nation have been reporting that buyer interest and traffic have picked up, which is a positive sign that the housing market is moving in the right direction," said NAHB Chairman Kevin Kelly, a home builder and developer from Wilmington, Del. For more, click here...

Canadian housing starts flat in August
The trend measure of housing starts in Canada reached 189,837 units in August compared to 189,596 in July, according to Canada Mortgage and Housing Corp. The trend is a six-month moving average of the monthly seasonally adjusted annual rate of housing starts. The stand-alone monthly SAAR was 192,368 in August, down from 199,813 in July. For more, click here...

Canadian building permits jump
Canadian municipalities issued building permits worth $C9.2 billion in July, up 11.8% from June and a fourth consecutive monthly advance. The increase in July was mainly attributable to higher construction intentions for multifamily dwellings in Ontario and British Columbia, as well as institutional buildings in Manitoba. The value of residential building permits increased for a fifth consecutive month, up 18.0% to $C5.0 billion in July. For more, click here...

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Wednesday, October 01, 2014


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