Wood Markets News

The Fannie Mae Home Purchase Sentiment Index® increased 2.9 points in December to a reading of 67.2. Year-over-year, the full HPSI was up 6.2 points.

In November, construction sector jobs—including both residential and nonresidential—increased month-over-month in 27 states and declined in 20 states and the District of Columbia, NAHB reported.

The median US asking rent fell 0.8% year-over-year to $1,964 in December, Redfin reported. Month-over-month, rents were 0.2% lower.

Overall employment in the construction sector increased by 17,000 in December, following an increase of 6,000 in November, according to BLS and NAHB.

Total nonfarm payroll employment increased by 216,000 in December. Payroll employment increased by 2.7 million in 2023, an average monthly gain of 225,000.

Canadian employment was little changed in December. This follows an increase of 25,000, or 0.1%, in November.

The median US mortgage payment was $2,361 during the four-week period ending on December 31st, down 14% from October’s record high, Redfin said.

The number of open construction jobs increased to 459,000 in November from a revised reading of 416,000 in October, the Census Bureau and NAHB reported.

The 30-year fixed-rate mortgage averaged 6.62%, up from last week when it averaged 6.61%, according to Freddie Mac.