Housing starts in September were at a seasonally adjusted annual rate of 1,354,000, 0.5% below the August estimate of 1,361,000.
Wood Markets News
San Group Curtailing Its Large-Log Sawmill and Value-Added Manufacturing Plant in BC Due to Log Shortage
The San Group is temporarily shutting down its large-log sawmill and value-added manufacturing plant in Port Alberni, BC, the Times Colonist reported.
Joint Center for Housing Studies Projects US Remodeling Will Return to Growth in 2025
After a mild pullback over the previous year, spending for improvements and repairs on owner-occupied homes is set to expand once again by the middle of 2025, JCHS reported.
Pending Home Sales Increase in September
Pending home sales jumped 2.5% month-over-month in September on a seasonally adjusted basis, the largest increase since January 2023, Redfin reported.
US Residential Acquisition, Development, and Construction Loans Decline in Q2
A NAHB analysis of FDIC data shows the volume of total outstanding AD&C loans during Q2 posted the largest year-over-year percentage decline since 2012.
US Builder Confidence Trends Higher in October
The NAHB/Wells Fargo Housing Market Index rose 2 points in October, the second consecutive increase.
Fannie Mae Economic and Strategic Research Group Releases Revised Economic Outlook
According to the ESR Group, the economy now appears to be on firmer footing than previously thought.
Investment in Canadian Building Construction Increases in August
Investment in building construction edged 0.2% higher in August, following a 1.6% decrease in July. Year-over-year, investment grew 7.2%.
US Mortgage Rates Climb for Third Consecutive Week
The 30-year fixed-rate mortgage averaged 6.44%, up from last week when it averaged 6.32%, Freddie Mac reported.
Mortgage Applications for New-Home Purchases Decrease 6.0% in September
Mortgage applications for new-home purchases decreased 6.0% in September but remained 10.8% higher year-over-year, MBA reported.