Although construction spending was down slightly in September, most of the drop was nonresidential. Spending on residential construction was up 0.5% for the month.

Mortgage purchase applications were down slightly from the previous week, but were up 9% compared to the same week in 2015.

First-time buyers represent 35% of homebuyers overall, according to a recent NAR survey. That’s the highest percentage since 2013 (38%).