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Other Industry News > Housing
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Builder confidence holds steady in April
Builder confidence in the market for newly built, single-family homes rose 1 point to 47 in April, from a downwardly revised March reading of 46, on the National Association of Home Builders/Wells Fargo Housing Market Index. "Builder confidence has been in a holding pattern the past three months," said NAHB Chairman Kevin Kelly, a home builder and developer from Wilmington, Del. "Looking ahead, as the spring buying season gets into full swing and demand increases, builders are expecting sales prospects to improve in the months ahead." For more, click here...
Fixed mortgage rates tick down
Thirty-year fixed-rate mortgages (FRMs) averaged 4.34% for the week ending April 10, down from last week's average of 4.41%, according to Freddie Mac. Last year at this time, the 30-year FRM averaged 3.43%. The 15-year FRM averaged 3.38% this week, down from last week's average of 3.47%. A year ago at this time, the 15-year FRM averaged 2.65%. One-year adjustable-rate mortgages (ARMs) averaged 2.41% this week, down from last week's average of 2.45%. At this time last year, the one-year ARM averaged 2.62%. For more, click here...
Canada's New Housing Price Index advances
Canada's New Housing Price Index rose 0.2% in February, following a 0.3% increase in January, according to Statistics Canada. The metropolitan area of Calgary was the top contributor to the February gain, with prices up 0.9% over the previous month. Builders reported that higher material and labor costs, market conditions, and the implementation of the new home warranty program in Alberta were the primary reasons for the increase. For more, click here...
Mortgage applications decline
Mortgage applications decreased 1.6% from a week earlier, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending April 4. The Market Composite Index, a measure of mortgage loan application volume, decreased 1.6% on a seasonally adjusted basis from a week earlier. On an unadjusted basis, the index decreased 1% compared with the previous week. The refinance component of the index decreased 5% from the previous week and is at its lowest level since the end of 2013. The purchase component of the index increased 3% from a week earlier. The refinance share of mortgage activity decreased to 51% of total applications, and is at its lowest level since July 2009. For more, click here...
March housing starts trend lower in Canada
Housing starts in Canada were trending at 184,476 units in March, compared to 191,126 in February, according to Canada Mortgage and Housing Corp. The trend is a six-month moving average of the monthly seasonally adjusted annual rates of housing starts. The stand-alone monthly SAAR was 156,832 units in March, a decrease from 190,639 in February. The SAAR of urban starts decreased by 18.8% in March to 142,502 units. Multiple urban starts decreased by 25.5% to 87,372 units in March, while the single-detached urban starts segment decreased by 5.4% to 55,130 units. For more, click here...
February building permits decline in Canada
Canadian municipalities issued building permits worth $C6.1 billion in February, down 11.6% from January, according to Statistics Canada. This decrease followed an 8.1% gain the previous month, and was mainly driven by lower construction intentions for multifamily dwellings in all provinces. For more, click here...
February pending home sales continue slide
The National Association of Realtors' Pending Home Sales Index, a forward-looking indicator based on contract signings, dipped 0.8% to 93.9, from a downwardly revised 94.7 in January. The index is 10.5% below its February 2013 reading. The February reading was the lowest since October 2011, when it was 92.2. Lawrence Yun, NAR chief economist, said the recent slowdown in home sales may have abated, while home prices continue to rise. For more, click here...
New home sales show February dip
U.S. sales of new, single-family houses in February were at a seasonally adjusted annual rate of 440,000, 3.3% below the revised January rate and 1.1% below the February 2013 estimate, according to the Census Bureau and the Department of Housing and Urban Development. The median sales price of new houses sold in February was $261,800. The seasonally adjusted estimate of new houses for sale at the end of February was 189,000. This represents a supply of 5.2 months at the current sales rate. For more, click here...
February existing-home sales remain subdued
Total existing-home sales were at a seasonally adjusted annual rate of 4.60 million units in February, down 0.4% from January and 7.1% below the pace of February 2013, according to the National Association of Realtors. February's sales pace was the slowest since July 2012. The median existing-home price for all housing types in February was $189,000, 9.1% higher than the level of February 2013. Distressed homes -- foreclosures and short sales -- accounted for 16% of February sales, compared with 15% in January and 25% in February 2013. Total housing inventory at the end of February rose to 2.0 million homes for sale, representing a 5.2-month supply at the current sales pace, up from 4.9 months in January. The unsold inventory is 5.3% above a year ago, when there was a 4.6-month supply. For more, click here...
U.S. housing starts post February dip; permits jump
U.S. housing starts were at a seasonally adjusted annual rate of 907,000 units in February, 0.2% below the revised January estimate and 6.4% below the February 2013 rate of 969,000 units, according to the Census Bureau and the Department of Housing and Urban Development. Single-family starts in February were at a rate of 583,000 units, 0.3% above the revised January figure. Housing units authorized by permits were at a SAAR of 1,018,000 units in February, 7.7% higher than the revised January rate and 6.9% higher than the February 2013 estimate. For more, click here...
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