Demand for existing homes has plunged in six out of seven months since February, falling to 3.96 million in September. … READ MORE >
Real estate
Housing starts and permits remain a drag on third-quarter growth
Housing starts rose 7.0% in September due to a rebound in multifamily homes, partly offsetting the sharp drop in August. Still, new residential starts remained a drag on growth in the third quarter amid higher mortgage rates, falling 4.2% on a quarterly basis. … READ MORE >
Amid Canada’s housing crunch, some move in with other generations
The multigenerational trend is being driven in no small part by necessity as younger buyers and new arrivals to Canada search for a place to live. … READ MORE >
Canada has an acute shortage of housing. Easing regulations would help solve that.
Canada’s housing crisis keeps getting worse. The latest Housing Supply Report by the Canada Mortgage and Housing Corporation concluded that the level of new construction is too low to address the long-term housing supply gap. The housing supply grew by only 1% in the first half of this year, according … … READ MORE >
Jobless claims hold steady as pending home sales plunge
Initial jobless claims inched up by only 2,000 last week to 204,000, remaining below the pre-pandemic average, while pending home sales plunged by 7.1% in August. … READ MORE >
Housing prices set a record as consumer confidence dips
Housing prices set a record in July, according to the S&P CoreLogic Index, rising by 0.87% on a seasonally adjusted basis. August’s new home sales, however, dropped by a sharp 8.7%. … READ MORE >
Falling jobless claims, existing home sales offer mixed economic picture
The mixed signals from Thursday’s data on initial jobless claims and existing home sales added to an economic picture that resembles a soft landing when the economy bends but does not break. … READ MORE >
Housing starts fall to three-year low amid 7% mortgage rate
Housing starts in the United States fell by a sharp 11.3% in August, the second double-digit drop in three months. … READ MORE >
New home sales remain bright spot in housing, rising on strong supply
Sales of new homes increased by 4.4% in July to 714,000, according to Commerce Department data released on Wednesday. … READ MORE >
Existing home sales fall near January low as rates surge
July sales were much lower than expected, dropping by 2.2% on the month compared to a forecasted decline of only 0.2% earlier. … READ MORE >