Residential construction rebounded in August after a disappointing July, reaching a four-month high driven by single-family building. This is a turnaround from July’s data, which saw homebuilding indicators decline. Single-family housing starts were up 9.6% from July’s revised estimate to a rate of 1.36 million, the fastest pace since April, according to new data from…
Homebuyer interest in new homes slowed in June, coinciding with a decline in builder activity. The Mortgage Bankers Association’s Builder Application Survey unadjusted data for June 2024 found that mortgage applications for new home purchases rose 0.7% YOY but slipped by 16% from the month prior. MBA VP and Deputy Chief Economist Joel Kan noted that…
New residential construction got a boost from multi-family units in June as builders continue to hesitate when it comes to investing in single-family homes. Housing starts were up 3% from May to a 1.35 million annual pace, according to new data from the U.S. Census Bureau. The increase came from a nearly 20% jump in…
Residential construction reversed gains in March, clocking its biggest dip since August 2023 as builders watch rising rates. Starts and permits both slipped in March, according to data from the U.S. Census Bureau. Starts tumbled by a stunning 14.7% month-over-month to a seasonally adjusted annual rate of 1,321,000. This is below all estimates in a…
Residential starts made a comeback last month after severe winter weather slowed builders down. Residential home construction increased by 10.7% in February to a 1.52 million annualized rate, according to data from the U.S. Census Bureau. This is the largest increase since May, and well above Bloomberg estimates of a 1.44 million pace. Both single-family…
Listings are down more than 15% from last year, another pain point on the market ahead of the typically zippy spring buying season. HouseCanary’s February Market Pulse Report found that net new listings were 15.3% lower than in February 2023. Overall, inventory is up 11.7% YOY but remains generally constrained, limiting new activity. This is…
Home construction lost ground in January, collapsing to the slowest pace in five months. Residential home construction fell to a 1.33 million annual pace, down from a revised 1.56 million in December, according to data from the U.S. Census Bureau. This is the biggest drop since April 2020, and a far cry from Wall Street…
Home construction slipped for the first time in four months in December, with single-family starts taking a hit. Residential home construction fell 4.3% last month to a 1.46 million annualized rate, according to data from the U.S. Census Bureau. They were up 7.6% from December 2022’s rate of 1.36 million, however. The dip comes on…
Housing starts surged unexpectedly in November, rising to a 6-month high. New home construction increased by 14.8% last month to an annualized rate of 1.56 million, according to data from the U.S. Census Bureau. All regions saw increases, with the South experiencing a 16.3% boost while new construction doubled in the Northeast. Single-family starts soared…
The 30-year fixed rate mortgage fell nearly 20 bps in one week, almost hitting 7%. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 7.03%, down from the week prior’s 7.22%. A year ago at this time, the 30-year FRM averaged 6.33%. It is now down nearly 80 bps in the last…
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