• Pending home sales in December decreased by 9.3% from the prior month and 3.0% year over year, according to the Pending Home Sales Report from the National Association of Realtors (Chicago). Month-over-month pending home sales declined in all four regions. Year-over-year pending home sales rose in the South and declined in the Northeast, Midwest and West.
• Single-family building permits weakened in October, according to an analysis by the National Association of Home Builders (Washington D.C.), based on U.S. Census Bureau data. This reflects continued caution among builders amid affordability constraints and financing challenges. In contrast, multifamily permit activity remained steady and continued to perform relatively well.
• Total construction activity in October was 0.5% above September’s activity, according to the U.S. Census Bureau’s (Suitland, Md.) Index of Economic Activity.
