Wood Markets News

US Builder Sentiment Improves in January

On Wednesday, the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) reported that builder sentiment in the market for newly built single-family homes rose 4 points in January to a reading of 35.

Nova Scotia Introduces “High Production Forestry” Scheme

In response to recommendations outlined the “An Independent Review of Forest Practices in Nova Scotia” report, the province has released in its “High Production Forestry Phase II Guidance for Implementation”. According to the document’s introduction, the Province of Nova Scotia is embarking on a new vision for forest management on Crown lands.

Canadian Housing Starts Trend Lower in December

The Canada Mortgage and Housing Corporation reported on Tuesday that standalone monthly seasonally adjusted annual rate of total housing starts for all areas in Canada declined 5% in December to 248,625 units, compared to November’s 263,022 units. CMHC also reported that the SAAR of total urban starts decreased by 5%.

Home Price Growth Slows in Q4

According to the latest Fannie Mae Home Price Index, a national, repeat-transaction home price index measuring the average, quarterly price change for all single-family properties in the US (excluding condos), single-family home prices increased at a non-seasonally adjusted rate of 9.2% in 2022Q4, compared to 2021Q4.

Commercial and Multifamily Mortgage Delinquency Rates Inch Higher in Q4

The Mortgage Bankers Association reported on Tuesday that according to their latest CREF Loan Performance Survey, delinquency rates for mortgages backed by commercial and multifamily properties increased modestly through 2022 Q4. The balance of commercial and multifamily mortgages that are not current increased in December 2022 (compared to September 2022).