Housing starts dropped by 14.7% to 1.32 million on an annualized rate, the lowest level since last August. … READ MORE >
Real estate
Existing home sales exceed forecasts as prices jump
There were 4.38 million existing homes sold in February, up by 9.5% from a month ago, the National Association of Realtors reported on Thursday. … READ MORE >
Housing starts and permits beat forecasts as completions reach 17-year high
Housing starts rose by 10.7% in February, while permits increased by 1.9%, according to data released by the Commerce Department on Tuesday. … READ MORE >
New home sales grew more slowly in January amid elevated mortgage rates
Sales of new homes grew 1.5% in January, much slower than the 7.2% increase in December, most likely because of elevated mortgage rates. … READ MORE >
Canada’s inflation excluding shelter hit target in January
Canada’s consumer price index dropped to 2.9% in January, led by lower year-over-year figures in gasoline prices. On a monthly basis, prices stayed flat. … READ MORE >
Initial jobless claims and housing starts post upside surprises
Filings for jobless benefits fell last week to the lowest level in 16 months, a testament for how resilient the labor market continues to be. … READ MORE >
U.S. existing home sales plunged to their lowest level since 2010
In October, sales of existing homes dropped to 3.79 million, marking the lowest point since 2010, the National Realtor Association reported on Tuesday. … READ MORE >
Existing home sales fall to the lowest level since 2010
Demand for existing homes has plunged in six out of seven months since February, falling to 3.96 million in September. … READ MORE >
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 >