Housing Starts Drop in July as Permits Point to Stronger Future Activity

Residential construction pulled back in July as housing starts and completions declined from June levels, while building permits rebounded. The latest Census Bureau data suggests builders remained cautious about active construction, even as the increase in permits pointed to somewhat stronger activi

Pending Home Sales Slip 2.3% in July

Pending home sales declined again in July as elevated mortgage rates and record-high home prices continued to weigh on buyer demand. The National Association of REALTORS® (NAR) Pending Home Sales Index (PHSI), which tracks signed contracts on existing homes, fell 2.3% from June and was down 2.2% fro

Builder Confidence Technically Higher But Still Sideways in The Big Picture

Builder sentiment improved slightly in August, but confidence in the market for newly built single-family homes remained subdued as elevated mortgage rates, rising construction costs and broader economic uncertainty continued to weigh on the industry. The National Association of Home Builders (NAHB)

No Major Changes in Mortgage Demand

Mortgage application activity was little changed last week as higher mortgage rates continued to weigh on purchase demand. The Mortgage Bankers Association (MBA) reported a 0.4% decrease in total application volume on a seasonally adjusted basis for the week ending August 14. Purchase applications d