Lumber and other wood product prices declined 1.2%, following six consecutive monthly increases. Softwood lumber was down 3.4%.
News in end use
US Existing-Home Sales Rise 4.2% in February
Existing-home sales increased 4.2% to a seasonally adjusted annual rate of 4.26 million in February, NAR reported.
US Mortgage Rates Inch Higher in the Week Ending March 20
The 30-year fixed-rate mortgage averaged 6.67%, up from last week when it averaged 6.65%, Freddie Mac reported.
The Conference Board US Leading Economic Index Continues to Move Lower in February
The Conference Board Leading Economic Index declined 0.3% to a reading of 101.1 in February, after a revised decline of 0.2% in January.
US Weekly Initial Jobless Claims Trend Higher in the Week Ending March 15
The advance figure for seasonally adjusted initial unemployment claims was 223,000, an increase of 2,000 from the previous week’s revised total.
US Mortgage Applications Decline in the Week Ending March 14
Mortgage loan application volume decreased 6.2% on a seasonally adjusted basis from one week earlier, MBA reported.
US Renter Population Increases in Q4
The number of renter households in America increased 0.8% year-over-year to 45.4 million in Q4, the slowest growth since 2023Q1, Redfin reported.
US Housing Starts Increase in February, While Permits and Completions Decline
Privately‐owned housing starts in February were at a seasonally adjusted annual rate of 1,501,000, 11.2% above the revised January estimate.
Canadian Housing Starts Decline in February
The total monthly seasonally adjusted annual rate of housing starts for all areas in Canada decreased 4% in February to 229,030 units, CMHC reported.
US Existing-Home Prices Rise in February at the Slowest Pace Since July 2024
US home prices grew 0.4% in February on a seasonally adjusted basis, the slowest pace since July 2024, Redfin reported.