Weekly Market Observations — October 4, 2023

Here’s Our Weekly Market Observations :

Pending home sales down 7.1% from July to August and 18.7% YOY

Multifamily starts down 26.3% from July and 41% YOY

Multifamily permits up 14.8% from July but down 17.7% YOY

Single-family starts down 4.3% from July but up 2.4% YOY

Single-family permits up 2% from July but down 7.2% YOY

Average 30-year fixed mortgage rates up slightly to 7.31%