Lumber and other wood products had the largest downward impact on the IPPI’s month-over-month movement in April, falling 1.3%.
News in end use
BC Moves to Streamline and Standardize the Local Building Permit Process
BC announced a new digital Building Permit Hub to help streamline the permitting process and to get more homes built faster.
Dodge Construction Network Reports Construction Starts Rose 6% in April
Dodge Construction Network reports that total construction starts rose 6% in April to a seasonally adjusted annual rate of $1.13 trillion.
US Apartment Investment Continues to Drop in Q1
According to MSCI Real Capital Analytics, nearly 1,040 apartment properties changed hands at a value of $20.6 billion in Q1.
US Median Home-Sale Price Hits New High in Four-Week Period Ending May 19th
During the four-week period ending May 19th, the median US home-sale price hit a record $387,600, Redfin reported.
NAHB/Wells Fargo Debut New Cost of Housing Index for Q1
The CHI reveals that a typical family must spend 38% of its income to cover the mortgage payment on a median priced new single-family home.
University of Michigan Reports Final Results of Its Consumer Sentiment Index for May
The University of Michigan Index of Consumer Sentiment declined to 69.1 in May, a month-over-month decline of 10.5% but up 17.1% year-over-year.
US New Residential Single-Family Home Sales Decline in April
New residential single-family home sales for April were at a SAAR of 634,000, 4.7% below the revised March rate.
30-Year Mortgage Rate Drops Below 7% in the Week Ending May 23rd
The 30-year fixed-rate mortgage averaged 6.94%, down from last week when it averaged 7.02%, Freddie Mac reported.
Canadian New-Home Prices Inch Higher in April
The New Housing Price Index (NHPI) increased 0.2% monthly in April, led by higher prices in large urban centers.