Quikrete Industry Dashboard: Sales and starts
A busy week for industry metrics is reflected in the latest Quikrete Industry Dashboard, which has updates on residential construction, existing home sales, gasoline prices at the pump, and, of course, industry stocks.
Total housing starts declined in September to a seasonally adjusted annual rate of 1.555 million, down 1.6%. Single-family starts held steady at a pace of 1.080 million.
Better news this week came from the National Association of Realtors, which reported existing home sales increased 7% to an annual rate of 6.29 million.
"Some improvement in supply during prior months helped nudge up sales in September,” said Lawrence Yun, NAR’s chief economist. “Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year.”
Elsewhere on the Quikrete Industry Dashboard, industry stocks enjoyed a strong week in which all 10 ticker symbols advanced into positive territory for the month and the year. BLDR led the way, up 80% for the year and nearly 12% for the month.
Gas prices continue to rise and now stand at $3.37 for a gallon of regular. A year ago, the average was $2.16.
Coming next: The Consumer Confidence Index will be released Oct. 26.