According to the Fannie Mae Home Purchase Sentiment Index® (HPSI), consumer confidence in home-buying and home-selling declined from November’s reading of 80.0 to a reading of 74.0 in December. The HPSI is now at its lowest level since May 2020.
News in covid 19
Job Cuts Spike in December – Up 18.9% from November
According to the latest released report by Challenger, Gray & Christmas (CG&C), Inc, a global outplacement and business and executive coaching firm, planned job cuts announced by U.S. based employers jumped to 77,030 in December. An increase of 18.9% from November’s announced cuts of 64,797.
CoreLogic® Reports Annual Year-Over-Year U.S. Home Price Appreciation Jumped 8.2% in November
CoreLogic®, a leading global property information, analytics and data-enabled solution provider released today (1-5-21) the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for November 2020. Year-over-year nationally home prices increased 8.2% (November 2019 – November 2020), the largest annual appreciation since March 2014.
Federal Housing Finance Agency Reports October House Prices Increased 10.2% Year-Over-Year
According to the latest Federal Housing Finance Agency’s House Price Index (FHFA HPI®) house prices rose nationwide in October, up 1.5% from the September reading. Year-over-year house prices have increased 10.2% (October 2019 to October 2020).
Emergency Coronavirus Relief Act of 2020 to Help American Loggers and Log Haulers
The American Logging Council (ALC) is reporting that Members of Congress have recognized the important role the timber harvesting industry plays in the U.S. economy by including both logging and log hauling businesses in the recently passed $900 billion Emergency Coronavirus Relief Act of 2020.
U.S. Consumer Confidence Declined for Second Straight Month in December
The Conference Board is reporting that U.S. consumer confidence dropped for a second straight month in December. The result of a deterioration in the labor market amid renewed business restrictions to slow the raging pandemic offset the rolling out of a vaccine for COVID-19.
Federal Housing Authority Extends Foreclosure and Eviction Moratorium Through February 28th, 2021
The Department of Housing and Urban Development (HUD) has announced (12/21) that the Federal Housing Administration (FHA) is providing a two-month extension of its foreclosure and eviction moratorium, and initial forbearance requests through Sunday, February 28th, 2021.
Canadian Confidence Index Increases for Third Straight Week
The Bloomberg Nanos Canadian Confidence Index (CCI), a composite measure of Canadians financial health and economic expectations, rose for a third-straight week to 54.2 on Friday (12/18), almost exactly where it was in mid-March when widespread restrictions were imposed to limit the spread of Covid-19.
Labor – The Missing Piece in the Housing Market
The missing piece in the housing market, according to Ali Wolf, chief economist at Zonda, the housing market research and real estate analytics firm, is labor.
B.C. Provincial Government Announces $9.3 Million Fund for Small to Medium Sized Forestry Businesses to Offset Operating Costs During Pandemic
The British Columbia provincial government is delivering relief to small- and medium sized forestry businesses to help offset the extra costs of keeping their employees and communities safe, while operating through the COVID-19 pandemic.