According to the U.S. Census Bureau, total single-family permits issued for the first seven months of 2020, nationwide totaled 525,623.
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Home Building Geography Index Reports Multifamily Construction is Also Shifting to Suburbs/Exurbs
The National Association of Home Builders (NAHB) Home Building Geography Index (HBGI) is reporting a significant shift in multifamily construction to the suburbs/exurbs in Q2 of 2020.
Weyerhaeuser Company Announces Immediate Donation to Red Cross for Wildfire Relief
Weyerhaeuser Company announced on Monday (9/14) that the company is making an immediate donation of $ 150,000 to the Red Cross to support emergency response efforts in communities affected by wildfire in the Pacific Northwest and particularly in Oregon.
Canada’s Industrial Products Price Index Increases for Fourth Consecutive Month in August
Statistics Canada reported on Friday (9/11) that Canada’s Industrial Product Price Index (IPPI) edge up 0.1% on month-over-month basis in August.
Canadian Mortgage Debt Reaches Three Year High in May
The Canadian Mortgage and Housing Corporation is reporting that in May, Canadian mortgage debt rose 6% year-over-year, the fastest annual rate since July 2017.
Prices Paid for Goods Used in Residential Construction Climb Higher in August
An in-depth study of the latest Produce Price Index (PPI) released by the Bureau of Labor Statistics (BLS) reports that the prices paid for goods used in residential construction pushed higher again in August, increasing 0.9% (not seasonally adjusted).
CoreLogic Report Warns of Potential Mortgage Foreclosure Crisis in the Months Ahead
According to CoreLogic, an Irvine California based corporation that provides financial, property and consumer information, analytics and business intelligence, the U.S. could be heading towards a foreclosure crisis, due to a reported surge in June in the number of mortgages that are 90 days or more past due.
Mortgage Loan Standards Rise in August to the Tightest Levels in More Than Six Years
The Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI), which analyzes data from Ellie Mae’s AllRegs® Market Clarity® business information tool, is reporting that mortgage credit availability decreased in August, to the tightest level in more than six years.
Construction Time on Multifamily Buildings, from Authorization to Completion, Expands Again in 2019 US Census Bureau Survey
According to the U.S. Census Bureau’s 2019 Survey of Construction (SOC), the ongoing shortage of skilled labor and ever expanding regulatory challenges, some of which are in place to slow the spread of the coronavirus has pushed the average length of time to complete the construction of a multifamily from obtaining local authorization to completion to an average of 17.3 months.
Consumer Price Index Moves Higher in August
The Bureau of Labor Statistics (BLS) is reporting that the Consumer Price Index (CPI) and the ‘core’ CPI both continued to increase in August.